Norris Perne & French LLP MI Has $15.53 Million Position in Kenvue Inc. (NYSE:KVUE)

Norris Perne & French LLP MI lifted its position in Kenvue Inc. (NYSE:KVUE) by 2.5% during the fourth quarter, HoldingsChannel.com reports. The fund owned 727,432 shares of the company’s stock after purchasing an additional 18,073 shares during the period. Norris Perne & French LLP MI’s holdings in Kenvue were worth $15,531,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. FMR LLC increased its holdings in Kenvue by 2.3% during the 3rd quarter. FMR LLC now owns 137,915,493 shares of the company’s stock worth $3,189,985,000 after purchasing an additional 3,075,019 shares in the last quarter. State Street Corp boosted its position in shares of Kenvue by 16.8% during the third quarter. State Street Corp now owns 127,213,940 shares of the company’s stock worth $2,942,458,000 after buying an additional 18,283,473 shares during the period. Massachusetts Financial Services Co. MA grew its stake in shares of Kenvue by 8.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 86,979,341 shares of the company’s stock worth $2,011,832,000 after acquiring an additional 7,115,374 shares in the last quarter. Geode Capital Management LLC lifted its position in Kenvue by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 44,677,077 shares of the company’s stock worth $1,029,810,000 after buying an additional 399,846 shares in the last quarter. Finally, Harris Associates L P boosted its position in Kenvue by 7.5% during the third 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. Institutional investors own 97.64% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on KVUE shares. Royal Bank of Canada upgraded shares of Kenvue from a “hold” rating to a “moderate buy” rating in a research note on Monday, December 9th. Deutsche Bank Aktiengesellschaft cut Kenvue from a “buy” rating to a “hold” rating and dropped their price target for the company from $25.00 to $24.00 in a research note on Thursday, December 12th. UBS Group reduced their price objective on shares of Kenvue from $24.00 to $23.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. Bank of America increased their price objective on shares of Kenvue from $24.00 to $27.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Finally, Piper Sandler raised shares of Kenvue from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $21.00 to $26.00 in a report on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $23.08.

Kenvue Stock Up 1.9 %

Shares of KVUE opened at $21.72 on Friday. The stock has a market capitalization of $41.64 billion, a price-to-earnings ratio of 39.48, a PEG ratio of 2.05 and a beta of 1.46. Kenvue Inc. has a 52 week low of $17.67 and a 52 week high of $24.46. 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 stock has a fifty day moving average of $22.00 and a 200-day moving average of $21.85.

Kenvue (NYSE:KVUE) last posted its earnings results on Thursday, November 7th. The company reported $0.28 EPS for the quarter, beating the consensus estimate of $0.27 by $0.01. Kenvue had a return on equity of 21.43% and a net margin of 6.88%. The firm had revenue of $3.90 billion during the quarter, compared to the consensus estimate of $3.92 billion. During the same period last year, the company earned $0.31 earnings per share. The business’s quarterly revenue was down .4% on a year-over-year basis. As a group, sell-side analysts anticipate that Kenvue Inc. will post 1.14 earnings per share for the current fiscal year.

Kenvue Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th will be paid a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a yield of 3.78%. The ex-dividend date is Wednesday, February 12th. Kenvue’s dividend payout ratio is presently 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.