Truist Financial Corp Acquires 133,235 Shares of Kenvue Inc. (NYSE:KVUE)

Truist Financial Corp increased its holdings in shares of Kenvue Inc. (NYSE:KVUE) by 18.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 851,827 shares of the company’s stock after purchasing an additional 133,235 shares during the quarter. Truist Financial Corp’s holdings in Kenvue were worth $18,187,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. FMR LLC increased its position in Kenvue by 2.3% during the third quarter. FMR LLC now owns 137,915,493 shares of the company’s stock valued at $3,189,985,000 after acquiring an additional 3,075,019 shares during the last quarter. State Street Corp increased its position in Kenvue by 16.8% during the third quarter. State Street Corp now owns 127,213,940 shares of the company’s stock valued at $2,942,458,000 after acquiring an additional 18,283,473 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in Kenvue by 8.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 86,979,341 shares of the company’s stock valued at $2,011,832,000 after acquiring an additional 7,115,374 shares during the last quarter. Geode Capital Management LLC increased its position in Kenvue by 0.9% during the third quarter. Geode Capital Management LLC now owns 44,677,077 shares of the company’s stock valued at $1,029,810,000 after acquiring an additional 399,846 shares during the last quarter. Finally, Harris Associates L P increased 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 acquiring an additional 2,186,114 shares during the last quarter. 97.64% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on KVUE. Piper Sandler upgraded Kenvue from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $21.00 to $26.00 in a research report on Monday, January 6th. Deutsche Bank Aktiengesellschaft cut Kenvue from a “buy” rating to a “hold” rating and reduced their price target for the stock from $25.00 to $24.00 in a research report on Thursday, December 12th. Royal Bank of Canada restated a “sector perform” rating and issued a $24.00 price target on shares of Kenvue in a research report on Monday, February 3rd. Citigroup reduced their price target on Kenvue from $25.00 to $21.00 and set a “neutral” rating for the company in a research report on Wednesday, January 15th. Finally, UBS Group reduced their price target on Kenvue from $23.00 to $21.00 and set a “neutral” rating for the company in a research report on Friday, February 7th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $23.00.

Kenvue Stock Performance

NYSE KVUE opened at $22.26 on Thursday. The stock has a market capitalization of $42.68 billion, a PE ratio of 42.00, a P/E/G ratio of 2.57 and a beta of 1.45. The business has a 50 day simple moving average of $21.28 and a two-hundred day simple moving average of $22.14. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.00 and a quick ratio of 0.69. Kenvue Inc. has a 1-year low of $17.67 and a 1-year high of $24.46.

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

Kenvue Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th will be issued a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a dividend yield of 3.68%. The ex-dividend date is Wednesday, February 12th. Kenvue’s dividend payout ratio (DPR) is 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.