Victory Capital Management Inc. Raises Position in Kenvue Inc. (NYSE:KVUE)

Victory Capital Management Inc. lifted its stake in Kenvue Inc. (NYSE:KVUE) by 23.3% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 1,636,938 shares of the company’s stock after acquiring an additional 308,864 shares during the quarter. Victory Capital Management Inc.’s holdings in Kenvue were worth $34,949,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Huntington National Bank boosted its position in shares of Kenvue by 26.5% in the third quarter. Huntington National Bank now owns 4,161 shares of the company’s stock worth $96,000 after buying an additional 871 shares during the period. ING Groep NV boosted its position in shares of Kenvue by 23.6% in the third quarter. ING Groep NV now owns 3,576,616 shares of the company’s stock worth $82,727,000 after buying an additional 681,954 shares during the period. Handelsbanken Fonder AB boosted its position in shares of Kenvue by 2.9% in the fourth quarter. Handelsbanken Fonder AB now owns 742,184 shares of the company’s stock worth $15,846,000 after buying an additional 21,222 shares during the period. Alberta Investment Management Corp boosted its position in shares of Kenvue by 23.2% in the fourth quarter. Alberta Investment Management Corp now owns 582,895 shares of the company’s stock worth $12,445,000 after buying an additional 109,700 shares during the period. Finally, Longbow Finance SA lifted its stake in shares of Kenvue by 5.0% in the fourth quarter. Longbow Finance SA now owns 280,568 shares of the company’s stock worth $5,990,000 after acquiring an additional 13,287 shares in the last quarter. Hedge funds and other institutional investors own 97.64% of the company’s stock.

Analysts Set New Price Targets

KVUE has been the topic of several recent analyst reports. UBS Group cut their price target on Kenvue from $23.00 to $21.00 and set a “neutral” rating on the stock in a research note on Friday, February 7th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $24.00 price target on shares of Kenvue in a research note on Monday, February 3rd. Piper Sandler boosted their price target on Kenvue from $24.00 to $27.00 and gave the stock an “overweight” rating in a research note on Monday, February 24th. Canaccord Genuity Group boosted their price target on Kenvue from $24.00 to $29.00 and gave the stock a “buy” rating in a research note on Wednesday, March 5th. Finally, Citigroup cut their price target on Kenvue from $25.00 to $21.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 15th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $23.75.

Kenvue Trading Up 1.2 %

Shares of NYSE KVUE opened at $23.46 on Monday. The stock’s 50 day moving average price is $21.64 and its two-hundred day moving average price is $22.33. Kenvue Inc. has a 52-week low of $17.67 and a 52-week high of $24.46. The stock has a market capitalization of $44.83 billion, a P/E ratio of 44.25, 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 posted its earnings results on Thursday, February 6th. The company reported $0.26 EPS 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, analysts anticipate that Kenvue Inc. will post 1.14 earnings per share for the current fiscal year.

Kenvue Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th were issued a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a dividend yield of 3.50%. The ex-dividend date of this dividend was Wednesday, February 12th. Kenvue’s dividend payout ratio (DPR) is presently 154.72%.

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.