Harris Associates L P Increases Holdings in Kenvue Inc. (NYSE:KVUE)

Harris Associates L P grew its position in shares of Kenvue Inc. (NYSE:KVUE) by 7.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,459,511 shares of the company’s stock after purchasing an additional 2,186,114 shares during the period. Kenvue makes up approximately 0.9% of Harris Associates L P’s investment portfolio, making the stock its 29th biggest position. Harris Associates L P’s holdings in Kenvue were worth $727,658,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of KVUE. Riverview Trust Co purchased a new position in Kenvue during the 3rd quarter worth approximately $30,000. Ashton Thomas Securities LLC purchased a new position in shares of Kenvue during the third quarter worth about $35,000. Deseret Mutual Benefit Administrators grew its position in Kenvue by 49.7% in the 3rd quarter. Deseret Mutual Benefit Administrators now owns 1,960 shares of the company’s stock valued at $45,000 after buying an additional 651 shares during the last quarter. Studio Investment Management LLC boosted its stake in shares of Kenvue by 52.1% during the 2nd quarter. Studio Investment Management LLC now owns 2,468 shares of the company’s stock worth $45,000 after acquiring an additional 845 shares in the last quarter. Finally, Brooklyn Investment Group purchased a new position in Kenvue in the 3rd quarter valued at about $71,000. 97.64% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have issued reports on KVUE. Royal Bank of Canada cut Kenvue from an “outperform” rating to a “sector perform” rating and set a $24.00 price objective on the stock. in a research note on Tuesday, September 24th. Deutsche Bank Aktiengesellschaft upped their price target on Kenvue from $23.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. Bank of America increased their price objective on Kenvue from $24.00 to $27.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. JPMorgan Chase & Co. upped their target price on shares of Kenvue from $24.00 to $25.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. Finally, UBS Group increased their price objective on shares of Kenvue from $20.00 to $22.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Kenvue has an average rating of “Hold” and a consensus price target of $22.64.

Kenvue Trading Up 0.7 %

Kenvue stock opened at $24.26 on Tuesday. The firm’s 50-day moving average is $22.96 and its 200-day moving average is $21.02. The company has a market cap of $46.51 billion, a P/E ratio of 44.11, a PEG ratio of 2.19 and a beta of 1.37. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.69 and a current ratio of 1.00. Kenvue Inc. has a 1 year low of $17.67 and a 1 year high of $24.46.

Kenvue (NYSE:KVUE) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.01. The firm had revenue of $3.90 billion for the quarter, compared to the consensus estimate of $3.92 billion. Kenvue had a net margin of 6.88% and a return on equity of 21.43%. The business’s revenue was down .4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.31 earnings per share. On average, equities analysts expect that Kenvue Inc. will post 1.07 earnings per share for the current year.

Kenvue Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th were paid a $0.205 dividend. This represents a $0.82 annualized dividend and a dividend yield of 3.38%. The ex-dividend date of this dividend was Wednesday, November 13th. Kenvue’s dividend payout ratio is currently 149.09%.

Kenvue Profile

Kenvue Inc operates as a consumer health company worldwide. The company operates through three segments: Self Care, Skin Health and Beauty, and Essential Health. The Self Care segment offers cough, cold and allergy, pain care, digestive health, smoking cessation, eye care, and other products under the Tylenol, Motrin, Benadryl, Nicorette, Zarbee's, ORSLTM, Rhinocort, Calpol, and Zyrtec brands.