KLP Kapitalforvaltning AS Acquires Shares of 692,246 Kenvue Inc. (NYSE:KVUE)

KLP Kapitalforvaltning AS bought a new stake in shares of Kenvue Inc. (NYSE:KVUE) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 692,246 shares of the company’s stock, valued at approximately $14,779,000.

Other hedge funds have also recently made changes to their positions in the company. Grove Bank & Trust increased its stake in shares of Kenvue by 438.4% during the fourth quarter. Grove Bank & Trust now owns 1,163 shares of the company’s stock valued at $25,000 after buying an additional 947 shares during the period. Geneos Wealth Management Inc. purchased a new position in shares of Kenvue during the fourth quarter valued at approximately $29,000. SRS Capital Advisors Inc. increased its stake in shares of Kenvue by 67.4% during the fourth quarter. SRS Capital Advisors Inc. now owns 1,418 shares of the company’s stock valued at $30,000 after buying an additional 571 shares during the period. Fortitude Family Office LLC increased its stake in shares of Kenvue by 106.6% during the fourth quarter. Fortitude Family Office LLC now owns 1,506 shares of the company’s stock valued at $32,000 after buying an additional 777 shares during the period. Finally, Versant Capital Management Inc grew its stake in Kenvue by 300.8% in the fourth quarter. Versant Capital Management Inc now owns 1,920 shares of the company’s stock worth $41,000 after purchasing an additional 1,441 shares during the period. 97.64% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft cut Kenvue from a “buy” rating to a “hold” rating and reduced their price target for the stock from $25.00 to $24.00 in a research note on Thursday, December 12th. Citigroup reduced their price target on Kenvue from $25.00 to $21.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 15th. Piper Sandler upped their price target on Kenvue from $24.00 to $27.00 and gave the stock an “overweight” rating in a research note on Monday, February 24th. Barclays reduced their price target on Kenvue from $23.00 to $21.00 and set an “equal weight” rating on the stock in a research note on Friday, January 17th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $24.00 price target on shares of Kenvue in a research note on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $23.75.

Kenvue Trading Down 0.2 %

Shares of NYSE:KVUE opened at $23.34 on Monday. The company has a market cap of $44.61 billion, a P/E ratio of 44.04, a PEG ratio of 2.62 and a beta of 1.25. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.00 and a quick ratio of 0.69. Kenvue Inc. has a 1 year low of $17.67 and a 1 year high of $24.46. The stock’s fifty day moving average price is $22.08 and its 200-day moving average price is $22.43.

Kenvue (NYSE:KVUE) last announced its quarterly earnings results on Thursday, February 6th. The company reported $0.26 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.26. Kenvue had a return on equity of 20.97% and a net margin of 6.66%. Sell-side analysts expect that Kenvue Inc. will post 1.14 earnings per share for the current year.

Kenvue Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th were issued a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a dividend yield of 3.51%. The ex-dividend date was Wednesday, February 12th. Kenvue’s payout ratio is currently 154.72%.

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.