Pictet Asset Management Holding SA Sells 4,209 Shares of Kenvue Inc. (NYSE:KVUE)

Pictet Asset Management Holding SA lowered its position in Kenvue Inc. (NYSE:KVUE) by 0.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 856,502 shares of the company’s stock after selling 4,209 shares during the period. Pictet Asset Management Holding SA’s holdings in Kenvue were worth $18,286,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of KVUE. Handelsbanken Fonder AB increased its stake in Kenvue by 2.9% in the 4th quarter. Handelsbanken Fonder AB now owns 742,184 shares of the company’s stock worth $15,846,000 after buying an additional 21,222 shares during the period. Alberta Investment Management Corp raised its stake in shares of Kenvue by 23.2% during the fourth quarter. Alberta Investment Management Corp now owns 582,895 shares of the company’s stock valued at $12,445,000 after acquiring an additional 109,700 shares in the last quarter. Longbow Finance SA boosted its holdings in shares of Kenvue by 5.0% in the fourth quarter. Longbow Finance SA now owns 280,568 shares of the company’s stock valued at $5,990,000 after purchasing an additional 13,287 shares during the period. Steward Partners Investment Advisory LLC increased its holdings in Kenvue by 143.1% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 47,938 shares of the company’s stock worth $1,023,000 after purchasing an additional 28,216 shares during the period. Finally, CORDA Investment Management LLC. raised its position in Kenvue by 1.4% during the 4th quarter. CORDA Investment Management LLC. now owns 1,253,096 shares of the company’s stock valued at $26,754,000 after purchasing an additional 17,466 shares in the last quarter. Hedge funds and other institutional investors own 97.64% of the company’s stock.

Kenvue Stock Down 0.6 %

KVUE stock opened at $23.85 on Wednesday. The company has a quick ratio of 0.69, a current ratio of 1.00 and a debt-to-equity ratio of 0.66. Kenvue Inc. has a 52 week low of $17.67 and a 52 week high of $24.46. The stock has a market capitalization of $45.57 billion, a PE ratio of 44.99, a price-to-earnings-growth ratio of 2.62 and a beta of 1.25. The firm has a 50 day moving average of $22.44 and a 200 day moving average of $22.46.

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

Kenvue Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Investors 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 3.44%. The ex-dividend date was Wednesday, February 12th. Kenvue’s dividend payout ratio (DPR) is 154.72%.

Analyst Upgrades and Downgrades

KVUE has been the topic of a number of recent research reports. Canaccord Genuity Group increased their price target on Kenvue from $24.00 to $29.00 and gave the stock a “buy” rating in a research report on Wednesday, March 5th. UBS Group cut their target price on shares of Kenvue from $23.00 to $21.00 and set a “neutral” rating on the stock in a research report on Friday, February 7th. Deutsche Bank Aktiengesellschaft cut shares of Kenvue from a “buy” rating to a “hold” rating and lowered their price target for the stock from $25.00 to $24.00 in a research report on Thursday, December 12th. Barclays lifted their price objective on shares of Kenvue from $21.00 to $23.00 and gave the company an “equal weight” rating in a report on Thursday, March 27th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $24.00 target price on shares of Kenvue in a research report on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $24.00.

About Kenvue

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.