Kenvue Inc. (NYSE:KVUE) Shares Sold by Legal & General Group Plc

Legal & General Group Plc lowered its stake in shares of Kenvue Inc. (NYSE:KVUE) by 11.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 13,163,028 shares of the company’s stock after selling 1,685,978 shares during the period. Legal & General Group Plc’s holdings in Kenvue were worth $281,031,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in KVUE. Vanguard Group Inc. lifted its stake in Kenvue by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 218,543,705 shares of the company’s stock worth $4,665,908,000 after purchasing an additional 1,636,741 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in Kenvue by 12.3% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 97,661,344 shares of the company’s stock valued at $2,085,070,000 after acquiring an additional 10,682,003 shares during the period. Geode Capital Management LLC grew its position in Kenvue by 3.1% in the 4th quarter. Geode Capital Management LLC now owns 46,068,931 shares of the company’s stock valued at $980,989,000 after acquiring an additional 1,391,854 shares in the last quarter. Franklin Resources Inc. grew its position in Kenvue by 61.5% in the 4th quarter. Franklin Resources Inc. now owns 42,719,377 shares of the company’s stock valued at $912,059,000 after acquiring an additional 16,269,721 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Kenvue by 2.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 24,972,777 shares of the company’s stock worth $533,169,000 after purchasing an additional 561,570 shares during the period. Institutional investors and hedge funds own 97.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Evercore ISI started coverage on shares of Kenvue in a research note on Monday, March 24th. They issued an “in-line” rating and a $25.00 price objective for the company. UBS Group dropped their price target on shares of Kenvue from $23.00 to $21.00 and set a “neutral” rating for the company in a research note on Friday, February 7th. Barclays increased their price objective on Kenvue from $21.00 to $23.00 and gave the company an “equal weight” rating in a research note on Thursday, March 27th. Citigroup lowered their target price on Kenvue from $25.00 to $21.00 and set a “neutral” rating for the company in a research note on Wednesday, January 15th. Finally, Canaccord Genuity Group increased their price target on Kenvue from $24.00 to $29.00 and gave the company a “buy” rating in a research report on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $24.00.

Kenvue Stock Down 1.7 %

KVUE stock opened at $21.40 on Wednesday. The stock has a market cap of $40.89 billion, a P/E ratio of 40.37, a PEG ratio of 2.62 and a beta of 1.02. The company has a current ratio of 1.00, a quick ratio of 0.69 and a debt-to-equity ratio of 0.66. Kenvue Inc. has a twelve month low of $17.67 and a twelve month high of $24.46. The company’s 50 day moving average is $22.60 and its two-hundred day moving average is $22.43.

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

Kenvue Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th were issued a $0.205 dividend. This represents a $0.82 annualized dividend and a dividend yield of 3.83%. The ex-dividend date of this dividend was Wednesday, February 12th. Kenvue’s payout ratio is currently 154.72%.

Kenvue Company 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.