State Street Corp Boosts Stock Position in Kenvue Inc. (NYSE:KVUE)

State Street Corp grew its stake in shares of Kenvue Inc. (NYSE:KVUE) by 16.8% during the 3rd quarter, HoldingsChannel reports. The fund owned 127,213,940 shares of the company’s stock after buying an additional 18,283,473 shares during the period. State Street Corp owned about 0.07% of Kenvue worth $2,942,458,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in KVUE. Riverview Trust Co purchased a new stake in shares of Kenvue in the third quarter worth $30,000. Ashton Thomas Securities LLC purchased a new stake in shares of Kenvue in the third quarter worth $35,000. Studio Investment Management LLC raised its position in shares of Kenvue by 52.1% in the second quarter. Studio Investment Management LLC now owns 2,468 shares of the company’s stock worth $45,000 after buying an additional 845 shares in the last quarter. Deseret Mutual Benefit Administrators raised its position in shares of Kenvue by 49.7% in the third quarter. Deseret Mutual Benefit Administrators now owns 1,960 shares of the company’s stock worth $45,000 after buying an additional 651 shares in the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new stake in shares of Kenvue in the second quarter worth $61,000. Hedge funds and other institutional investors own 97.64% of the company’s stock.

Analyst Upgrades and Downgrades

KVUE has been the topic of a number of recent analyst reports. Royal Bank of Canada downgraded Kenvue from an “outperform” rating to a “sector perform” rating and set a $24.00 price objective on the stock. in a research report on Tuesday, September 24th. Jefferies Financial Group initiated coverage on Kenvue in a research report on Tuesday, September 24th. They issued a “buy” rating and a $27.00 price objective on the stock. Bank of America increased 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. Piper Sandler increased their price objective on Kenvue from $20.00 to $21.00 and gave the stock a “neutral” rating in a research report on Monday, September 23rd. Finally, JPMorgan Chase & Co. raised their price target on Kenvue from $24.00 to $25.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. One 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. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $22.64.

Kenvue Trading Down 0.1 %

NYSE KVUE opened at $23.15 on Friday. The stock’s 50-day simple moving average is $22.97 and its two-hundred day simple moving average is $21.07. Kenvue Inc. has a twelve month low of $17.67 and a twelve month high of $24.46. The company has a market capitalization of $44.37 billion, a price-to-earnings ratio of 42.08, a PEG ratio of 2.13 and a beta of 1.36. 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 announced its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $3.92 billion. During the same period last year, the firm earned $0.31 earnings per share. The company’s revenue for the quarter was down .4% compared to the same quarter last year. Research analysts forecast that Kenvue Inc. will post 1.07 EPS for the current fiscal year.

Kenvue Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th were paid a dividend of $0.205 per share. The ex-dividend date of this dividend was Wednesday, November 13th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 3.54%. Kenvue’s dividend payout ratio (DPR) is currently 149.09%.

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.