Prudential Financial Inc. Lowers Stock Position in Kenvue Inc. (NYSE:KVUE)

Prudential Financial Inc. cut its position in shares of Kenvue Inc. (NYSE:KVUE) by 15.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,036,266 shares of the company’s stock after selling 182,700 shares during the quarter. Prudential Financial Inc. owned approximately 0.05% of Kenvue worth $22,124,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in KVUE. Vanguard Group Inc. boosted its stake in shares of Kenvue by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 218,543,705 shares of the company’s stock worth $4,665,908,000 after buying an additional 1,636,741 shares during the last quarter. State Street Corp boosted its position in Kenvue by 16.8% in the third quarter. State Street Corp now owns 127,213,940 shares of the company’s stock worth $2,942,458,000 after purchasing an additional 18,283,473 shares during the last quarter. Geode Capital Management LLC grew its stake in Kenvue by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 44,677,077 shares of the company’s stock valued at $1,029,810,000 after purchasing an additional 399,846 shares during the period. Harris Associates L P increased its position in shares of Kenvue by 7.5% during the 3rd quarter. Harris Associates L P now owns 31,459,511 shares of the company’s stock valued at $727,658,000 after purchasing an additional 2,186,114 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Kenvue by 2.3% during the 4th 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. 97.64% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently weighed in on KVUE. Piper Sandler increased their price target on shares of Kenvue from $24.00 to $27.00 and gave the company an “overweight” rating in a research report on Monday, February 24th. Barclays reduced their target price on shares of Kenvue from $23.00 to $21.00 and set an “equal weight” rating for the company in a research report on Friday, January 17th. Evercore ISI began coverage on shares of Kenvue in a report on Monday. They issued an “in-line” rating and a $25.00 price target on the stock. Canaccord Genuity Group upped their price objective on Kenvue from $24.00 to $29.00 and gave the company a “buy” rating in a research note on Wednesday, March 5th. Finally, Deutsche Bank Aktiengesellschaft downgraded Kenvue from a “buy” rating to a “hold” rating and decreased their target price for the stock from $25.00 to $24.00 in a research report on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Kenvue has a consensus rating of “Hold” and a consensus price target of $23.85.

Kenvue Trading Up 1.3 %

Shares of KVUE opened at $23.40 on Thursday. Kenvue Inc. has a twelve month low of $17.67 and a twelve month high of $24.46. The stock has a market cap of $44.72 billion, a PE ratio of 44.15, a P/E/G ratio of 2.62 and a beta of 1.25. The company has a quick ratio of 0.69, a current ratio of 1.00 and a debt-to-equity ratio of 0.66. The business’s 50-day moving average price is $22.22 and its 200-day moving average price is $22.45.

Kenvue (NYSE:KVUE) last posted its earnings results on Thursday, February 6th. The company reported $0.26 earnings per share (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%. On average, equities analysts forecast that Kenvue Inc. will post 1.14 EPS for the current fiscal year.

Kenvue Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th were given a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a yield of 3.50%. The ex-dividend date was Wednesday, February 12th. Kenvue’s payout ratio is 154.72%.

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.