Geode Capital Management LLC Boosts Holdings in Kenvue Inc. (NYSE:KVUE)

Geode Capital Management LLC lifted its stake in shares of Kenvue Inc. (NYSE:KVUE) by 3.1% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 46,068,931 shares of the company’s stock after buying an additional 1,391,854 shares during the period. Geode Capital Management LLC’s holdings in Kenvue were worth $980,989,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of KVUE. Grove Bank & Trust raised its holdings in Kenvue by 438.4% in the fourth quarter. Grove Bank & Trust now owns 1,163 shares of the company’s stock worth $25,000 after purchasing an additional 947 shares in the last quarter. Geneos Wealth Management Inc. purchased a new stake in shares of Kenvue in the 4th quarter worth about $29,000. SRS Capital Advisors Inc. increased its stake in shares of Kenvue by 67.4% in the 4th quarter. SRS Capital Advisors Inc. now owns 1,418 shares of the company’s stock worth $30,000 after acquiring an additional 571 shares in the last quarter. Fortitude Family Office LLC lifted its position in Kenvue by 106.6% during the 4th quarter. Fortitude Family Office LLC now owns 1,506 shares of the company’s stock valued at $32,000 after acquiring an additional 777 shares during the period. Finally, Versant Capital Management Inc boosted its stake in Kenvue by 300.8% during the fourth quarter. Versant Capital Management Inc now owns 1,920 shares of the company’s stock worth $41,000 after acquiring an additional 1,441 shares in the last quarter. 97.64% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Canaccord Genuity Group raised their target price on shares of Kenvue from $24.00 to $29.00 and gave the company a “buy” rating in a research note on Wednesday, March 5th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $24.00 price objective on shares of Kenvue in a research report on Monday, February 3rd. Citigroup lowered their price objective on Kenvue from $25.00 to $21.00 and set a “neutral” rating for the company in a research note on Wednesday, January 15th. Barclays increased their target price on Kenvue from $21.00 to $23.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 27th. Finally, Evercore ISI started coverage on Kenvue in a research report on Monday, March 24th. They issued an “in-line” rating and a $25.00 price target for the company. One analyst has rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $24.00.

Kenvue Stock Performance

Shares of NYSE KVUE opened at $23.87 on Thursday. The firm’s 50-day moving average price is $22.50 and its 200-day moving average price is $22.47. Kenvue Inc. has a 52-week low of $17.67 and a 52-week high of $24.46. The company has a market cap of $45.62 billion, a PE ratio of 45.04, a PEG 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.

Kenvue (NYSE:KVUE) last issued 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%. As a group, analysts anticipate that Kenvue Inc. will post 1.14 EPS for the current year.

Kenvue Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th were given a $0.205 dividend. The ex-dividend date of this dividend was Wednesday, February 12th. This represents a $0.82 annualized dividend and a yield of 3.44%. Kenvue’s payout ratio is 154.72%.

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.