Thrivent Financial for Lutherans Acquires 759,799 Shares of Kenvue Inc. (NYSE:KVUE)

Thrivent Financial for Lutherans raised its holdings in Kenvue Inc. (NYSE:KVUE) by 22.2% in the 3rd quarter, HoldingsChannel reports. The firm owned 4,186,599 shares of the company’s stock after purchasing an additional 759,799 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Kenvue were worth $96,836,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. Price T Rowe Associates Inc. MD grew its holdings in Kenvue by 23.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 134,565,333 shares of the company’s stock worth $2,887,773,000 after acquiring an additional 25,238,112 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Kenvue by 9.6% during the second quarter. Massachusetts Financial Services Co. MA now owns 79,863,967 shares of the company’s stock valued at $1,451,927,000 after purchasing an additional 7,023,047 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Kenvue by 21.0% in the second quarter. Bank of New York Mellon Corp now owns 43,444,085 shares of the company’s stock valued at $789,813,000 after purchasing an additional 7,546,362 shares in the last quarter. American Century Companies Inc. raised its position in Kenvue by 20.7% in the 2nd quarter. American Century Companies Inc. now owns 27,382,644 shares of the company’s stock worth $497,816,000 after purchasing an additional 4,700,697 shares during the last quarter. Finally, Van ECK Associates Corp lifted its holdings in Kenvue by 110.9% during the 2nd quarter. Van ECK Associates Corp now owns 20,510,427 shares of the company’s stock worth $372,880,000 after buying an additional 10,783,258 shares in the last quarter. Institutional investors own 97.64% of the company’s stock.

Analyst Ratings Changes

KVUE has been the subject of several research reports. Piper Sandler lifted their target price on Kenvue from $20.00 to $21.00 and gave the company a “neutral” rating in a research note on Monday, September 23rd. Bank of America lifted their price objective on Kenvue from $24.00 to $27.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. UBS Group upped their target price on shares of Kenvue from $20.00 to $22.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Kenvue from $23.00 to $24.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Kenvue from $24.00 to $25.00 and gave the company an “overweight” rating in a report on Friday, October 11th. One 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. According to data from MarketBeat.com, Kenvue presently has a consensus rating of “Hold” and an average target price of $22.64.

Kenvue Price Performance

Shares of KVUE stock opened at $23.82 on Monday. 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 Inc. has a 12-month low of $17.67 and a 12-month high of $24.13. The firm has a fifty day moving average of $22.77 and a 200-day moving average of $20.70. The firm has a market capitalization of $45.67 billion, a price-to-earnings ratio of 43.31, a price-to-earnings-growth ratio of 2.16 and a beta of 1.36.

Kenvue (NYSE:KVUE) last posted its earnings results on Thursday, November 7th. The company reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $3.92 billion. During the same period in the previous year, the firm earned $0.31 earnings per share. The company’s revenue was down .4% on a year-over-year basis. On average, equities research analysts forecast that Kenvue Inc. will post 1.07 earnings per share for the current year.

Kenvue Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th will be paid a dividend of $0.205 per share. The ex-dividend date is Wednesday, November 13th. This represents a $0.82 dividend on an annualized basis and a yield of 3.44%. Kenvue’s payout ratio is 149.09%.

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.