Cerity Partners LLC Boosts Stake in Kenvue Inc. (NYSE:KVUE)

Cerity Partners LLC grew its stake in shares of Kenvue Inc. (NYSE:KVUE) by 332.7% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 331,021 shares of the company’s stock after acquiring an additional 254,524 shares during the quarter. Cerity Partners LLC’s holdings in Kenvue were worth $7,127,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Vanguard Group Inc. acquired a new stake in Kenvue during the third quarter worth approximately $2,944,816,000. FMR LLC lifted its stake in shares of Kenvue by 572.1% during the 3rd quarter. FMR LLC now owns 89,182,980 shares of the company’s stock worth $1,790,794,000 after purchasing an additional 75,913,107 shares during the period. Wellington Management Group LLP boosted its holdings in shares of Kenvue by 576.1% during the third quarter. Wellington Management Group LLP now owns 71,686,830 shares of the company’s stock worth $1,439,472,000 after purchasing an additional 61,084,123 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of Kenvue by 227.7% in the third quarter. Massachusetts Financial Services Co. MA now owns 61,091,189 shares of the company’s stock valued at $1,226,711,000 after purchasing an additional 42,449,470 shares during the period. Finally, Morgan Stanley increased its stake in Kenvue by 4,057.4% in the third quarter. Morgan Stanley now owns 31,162,614 shares of the company’s stock valued at $625,745,000 after purchasing an additional 30,413,040 shares during the last quarter. Hedge funds and other institutional investors own 97.64% of the company’s stock.

Kenvue Stock Performance

Shares of KVUE opened at $19.13 on Tuesday. Kenvue Inc. has a 12 month low of $17.82 and a 12 month high of $27.80. The stock’s 50-day moving average is $19.88 and its two-hundred day moving average is $20.18. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.78 and a current ratio of 1.12.

Kenvue (NYSE:KVUE) last released its quarterly earnings results on Thursday, February 8th. The company reported $0.31 EPS for the quarter, topping the consensus estimate of $0.28 by $0.03. Kenvue had a return on equity of 15.62% and a net margin of 9.87%. The firm had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.78 billion. The firm’s revenue for the quarter was down 2.7% compared to the same quarter last year. On average, research analysts anticipate that Kenvue Inc. will post 1.17 earnings per share for the current fiscal year.

Kenvue Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 28th. Investors of record on Wednesday, February 14th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 4.18%. The ex-dividend date of this dividend was Tuesday, February 13th.

Analysts Set New Price Targets

KVUE has been the topic of a number of research analyst reports. JPMorgan Chase & Co. decreased their price target on Kenvue from $25.00 to $24.00 and set an “overweight” rating on the stock in a research note on Friday, February 9th. Sanford C. Bernstein started coverage on shares of Kenvue in a research report on Thursday, April 11th. They issued an “underperform” rating and a $18.00 target price on the stock. UBS Group boosted their target price on shares of Kenvue from $20.00 to $23.00 and gave the company a “neutral” rating in a report on Tuesday, December 19th. Royal Bank of Canada cut their price target on shares of Kenvue from $25.00 to $24.00 and set an “outperform” rating on the stock in a research note on Friday, February 9th. Finally, William Blair assumed coverage on shares of Kenvue in a research note on Wednesday, April 3rd. They set a “market perform” rating for the company. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $24.85.

Kenvue Company 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.