Envestnet Portfolio Solutions Inc. Has $10.42 Million Stake in Kenvue Inc. (NYSE:KVUE)

Envestnet Portfolio Solutions Inc. boosted its position in shares of Kenvue Inc. (NYSE:KVUE) by 159.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 488,258 shares of the company’s stock after buying an additional 300,137 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Kenvue were worth $10,424,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Alerus Financial NA boosted its stake in shares of Kenvue by 0.3% in the 3rd quarter. Alerus Financial NA now owns 191,345 shares of the company’s stock valued at $4,426,000 after purchasing an additional 491 shares in the last quarter. Kiley Juergens Wealth Management LLC boosted its stake in shares of Kenvue by 1.9% in the 4th quarter. Kiley Juergens Wealth Management LLC now owns 27,110 shares of the company’s stock valued at $579,000 after purchasing an additional 500 shares in the last quarter. Principle Wealth Partners LLC boosted its stake in shares of Kenvue by 3.7% in the 4th quarter. Principle Wealth Partners LLC now owns 14,194 shares of the company’s stock valued at $303,000 after purchasing an additional 500 shares in the last quarter. White Pine Capital LLC boosted its stake in shares of Kenvue by 1.0% in the 4th quarter. White Pine Capital LLC now owns 54,572 shares of the company’s stock valued at $1,165,000 after purchasing an additional 542 shares in the last quarter. Finally, Deseret Mutual Benefit Administrators boosted its stake in shares of Kenvue by 29.0% in the 4th quarter. Deseret Mutual Benefit Administrators now owns 2,528 shares of the company’s stock valued at $54,000 after purchasing an additional 568 shares in the last quarter. 97.64% of the stock is currently owned by institutional investors and hedge funds.

Kenvue Stock Performance

NYSE KVUE opened at $22.81 on Monday. The company has a fifty day simple moving average of $21.84 and a 200 day simple moving average of $22.39. Kenvue Inc. has a 12-month low of $17.67 and a 12-month high of $24.46. The company has a current ratio of 1.00, a quick ratio of 0.69 and a debt-to-equity ratio of 0.66. The company has a market cap of $43.59 billion, a P/E ratio of 43.03, a PEG ratio of 2.62 and a beta of 1.25.

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

Kenvue Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th were issued a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a yield of 3.60%. The ex-dividend date of this dividend was Wednesday, February 12th. Kenvue’s dividend payout ratio is 154.72%.

Analyst Upgrades and Downgrades

Several research firms recently commented on KVUE. Deutsche Bank Aktiengesellschaft downgraded shares of Kenvue from a “buy” rating to a “hold” rating and cut their target price for the stock from $25.00 to $24.00 in a research report on Thursday, December 12th. Piper Sandler lifted their target price on shares of Kenvue from $24.00 to $27.00 and gave the stock an “overweight” rating in a research report on Monday, February 24th. Canaccord Genuity Group lifted their target price on shares of Kenvue from $24.00 to $29.00 and gave the stock a “buy” rating in a research report on Wednesday, March 5th. Royal Bank of Canada reiterated a “sector perform” rating and set a $24.00 target price on shares of Kenvue in a research report on Monday, February 3rd. Finally, Citigroup cut their target price on shares of Kenvue from $25.00 to $21.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 15th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $23.75.

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.