MML Investors Services LLC Boosts Stock Position in Kenvue Inc. (NYSE:KVUE)

MML Investors Services LLC grew its holdings in shares of Kenvue Inc. (NYSE:KVUE) by 3.3% in the third quarter, Holdings Channel reports. The institutional investor owned 179,130 shares of the company’s stock after purchasing an additional 5,714 shares during the period. MML Investors Services LLC’s holdings in Kenvue were worth $4,143,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in KVUE. Assenagon Asset Management S.A. lifted its stake in Kenvue by 34.9% during the second quarter. Assenagon Asset Management S.A. now owns 347,625 shares of the company’s stock worth $6,320,000 after purchasing an additional 89,896 shares during the last quarter. Blue Trust Inc. raised its holdings in Kenvue by 20.5% during the second quarter. Blue Trust Inc. now owns 6,185 shares of the company’s stock worth $112,000 after purchasing an additional 1,054 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its position in shares of Kenvue by 9.1% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 4,216,574 shares of the company’s stock worth $76,657,000 after buying an additional 351,999 shares during the last quarter. First Horizon Advisors Inc. boosted its holdings in shares of Kenvue by 20.4% in the 2nd quarter. First Horizon Advisors Inc. now owns 24,093 shares of the company’s stock valued at $438,000 after buying an additional 4,076 shares in the last quarter. Finally, Chevy Chase Trust Holdings LLC grew its position in shares of Kenvue by 9.5% in the 2nd quarter. Chevy Chase Trust Holdings LLC now owns 1,046,754 shares of the company’s stock valued at $19,030,000 after buying an additional 91,056 shares during the last quarter. 97.64% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have issued reports on KVUE. Deutsche Bank Aktiengesellschaft downgraded shares of Kenvue from a “buy” rating to a “hold” rating and decreased their price objective for the company from $25.00 to $24.00 in a research note on Thursday. Piper Sandler upped their target price on Kenvue from $20.00 to $21.00 and gave the company a “neutral” rating in a research report on Monday, September 23rd. Bank of America lifted their price target on Kenvue from $24.00 to $27.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. JPMorgan Chase & Co. increased their price objective on Kenvue from $24.00 to $25.00 and gave the company an “overweight” rating in a report on Friday, October 11th. Finally, Royal Bank of Canada raised shares of Kenvue from a “hold” rating to a “moderate buy” rating in a report on Monday, December 9th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $22.64.

Kenvue Price Performance

Shares of NYSE KVUE opened at $22.21 on Friday. The stock has a fifty day moving average price of $22.95 and a 200 day moving average price of $21.17. Kenvue Inc. has a 1-year low of $17.67 and a 1-year high of $24.46. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.00 and a quick ratio of 0.69. The company has a market cap of $42.58 billion, a PE ratio of 40.38, a P/E/G ratio of 2.02 and a beta of 1.36.

Kenvue (NYSE:KVUE) last released its earnings results on Thursday, November 7th. The company reported $0.28 EPS for the quarter, topping the consensus estimate of $0.27 by $0.01. Kenvue had a net margin of 6.88% and a return on equity of 21.43%. The company had revenue of $3.90 billion during the quarter, compared to analysts’ expectations of $3.92 billion. During the same quarter last year, the business earned $0.31 EPS. The business’s revenue was down .4% on a year-over-year basis. Sell-side analysts forecast that Kenvue Inc. will post 1.07 EPS for the current year.

Kenvue Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th were issued a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a yield of 3.69%. The ex-dividend date of this dividend was Wednesday, November 13th. Kenvue’s dividend payout ratio is presently 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.