Deseret Mutual Benefit Administrators Increases Stock Holdings in Kenvue Inc. (NYSE:KVUE)

Deseret Mutual Benefit Administrators increased its holdings in Kenvue Inc. (NYSE:KVUE) by 49.7% in the third quarter, HoldingsChannel.com reports. The fund owned 1,960 shares of the company’s stock after acquiring an additional 651 shares during the period. Deseret Mutual Benefit Administrators’ holdings in Kenvue were worth $45,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in KVUE. Price T Rowe Associates Inc. MD lifted its stake in Kenvue by 23.1% in the first 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 period. Vanguard Group Inc. lifted its stake in Kenvue by 12.0% in the first quarter. Vanguard Group Inc. now owns 166,789,085 shares of the company’s stock worth $3,579,294,000 after acquiring an additional 17,908,497 shares during the period. Van ECK Associates Corp lifted its stake in Kenvue by 110.9% in the second quarter. Van ECK Associates Corp now owns 20,510,427 shares of the company’s stock worth $372,880,000 after acquiring an additional 10,783,258 shares during the period. Clearbridge Investments LLC raised its holdings in Kenvue by 16,051.1% in the first quarter. Clearbridge Investments LLC now owns 9,813,597 shares of the company’s stock worth $210,600,000 after purchasing an additional 9,752,836 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in 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 worth $789,813,000 after purchasing an additional 7,546,362 shares in the last quarter. Hedge funds and other institutional investors own 97.64% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on KVUE shares. Royal Bank of Canada downgraded Kenvue from an “outperform” rating to a “sector perform” rating and set a $24.00 price objective for the company. in a report on Tuesday, September 24th. UBS Group increased their price objective on Kenvue from $20.00 to $22.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Jefferies Financial Group started coverage on Kenvue in a report on Tuesday, September 24th. They issued a “buy” rating and a $27.00 price objective for the company. Bank of America increased their price objective on Kenvue from $24.00 to $27.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Finally, Deutsche Bank Aktiengesellschaft raised their price target on Kenvue from $23.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $22.64.

Kenvue Price Performance

Shares of NYSE:KVUE opened at $22.97 on Friday. Kenvue Inc. has a 1-year low of $17.67 and a 1-year high of $23.57. The business has a fifty day moving average price of $22.61 and a 200-day moving average price of $20.50. The company has a market capitalization of $43.99 billion, a PE ratio of 39.60, a PEG ratio of 3.01 and a beta of 1.36. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.99 and a quick ratio of 0.68.

Kenvue (NYSE:KVUE) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.28 by $0.04. Kenvue had a return on equity of 21.80% and a net margin of 7.23%. The company had revenue of $4 billion during the quarter, compared to the consensus estimate of $3.93 billion. During the same period last year, the company earned $0.32 EPS. Kenvue’s revenue for the quarter was down .3% on a year-over-year basis. As a group, equities analysts expect that Kenvue Inc. will post 1.08 EPS for the current fiscal year.

Kenvue Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th will be issued a $0.205 dividend. The ex-dividend date is Wednesday, November 13th. This represents a $0.82 annualized dividend and a yield of 3.57%. Kenvue’s payout ratio is 141.38%.

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.