Kenvue Inc. (NYSE:KVUE) Shares Purchased by Investment Management Corp of Ontario

Investment Management Corp of Ontario increased its holdings in shares of Kenvue Inc. (NYSE:KVUE) by 33.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 85,220 shares of the company’s stock after purchasing an additional 21,593 shares during the quarter. Investment Management Corp of Ontario’s holdings in Kenvue were worth $1,819,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Grove Bank & Trust increased its position in shares of Kenvue by 438.4% during the 4th quarter. Grove Bank & Trust now owns 1,163 shares of the company’s stock worth $25,000 after purchasing an additional 947 shares during the last quarter. Geneos Wealth Management Inc. acquired a new stake in shares of Kenvue during the 4th quarter worth about $29,000. SRS Capital Advisors Inc. increased its position in shares of Kenvue by 67.4% during the 4th quarter. SRS Capital Advisors Inc. now owns 1,418 shares of the company’s stock worth $30,000 after purchasing an additional 571 shares during the last quarter. Asset Planning Inc acquired a new stake in shares of Kenvue during the 4th quarter worth about $42,000. Finally, Clarity Asset Management Inc. acquired a new stake in shares of Kenvue during the 4th quarter worth about $45,000. 97.64% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

KVUE has been the subject of a number of recent analyst reports. Royal Bank of Canada reissued a “sector perform” rating and set a $24.00 price objective on shares of Kenvue in a research report on Monday, February 3rd. Redburn Atlantic started coverage on Kenvue in a research report on Thursday, April 10th. They issued a “neutral” rating and a $23.50 target price for the company. Citigroup lifted their target price on Kenvue from $22.00 to $24.50 and gave the company a “neutral” rating in a research report on Friday. Piper Sandler lifted their target price on Kenvue from $24.00 to $27.00 and gave the company an “overweight” rating in a research report on Monday, February 24th. Finally, Canaccord Genuity Group lifted their target price on Kenvue from $24.00 to $29.00 and gave the company a “buy” rating in a research report on Wednesday, March 5th. Seven investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $25.25.

Kenvue Stock Performance

Shares of Kenvue stock opened at $24.47 on Monday. Kenvue Inc. has a one year low of $17.67 and a one year high of $25.17. The company has a market cap of $46.95 billion, a PE ratio of 46.17, a P/E/G ratio of 2.62 and a beta of 1.02. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.69 and a current ratio of 1.00. The business has a 50-day simple moving average of $23.13 and a 200-day simple moving average of $22.55.

Kenvue (NYSE:KVUE) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.01. The business had revenue of $3.74 billion during the quarter, compared to the consensus estimate of $3.69 billion. Kenvue had a return on equity of 20.97% and a net margin of 6.66%. The business’s revenue for the quarter was down 3.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.28 earnings per share. On average, equities research analysts forecast that Kenvue Inc. will post 1.14 EPS for the current fiscal year.

Kenvue Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 28th. Investors of record on Wednesday, May 14th will be paid a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a yield of 3.35%. The ex-dividend date is Wednesday, May 14th. Kenvue’s payout ratio is 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.