Everett Harris & Co. CA Boosts Holdings in Kenvue Inc. (NYSE:KVUE)

Everett Harris & Co. CA grew its holdings in Kenvue Inc. (NYSE:KVUE) by 7.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 19,843 shares of the company’s stock after buying an additional 1,437 shares during the period. Everett Harris & Co. CA’s holdings in Kenvue were worth $427,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Vanguard Group Inc. acquired a new stake in Kenvue during the third quarter worth about $2,944,816,000. FMR LLC increased its position in Kenvue by 572.1% during the third 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 last quarter. Wellington Management Group LLP increased its position in 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 increased its position in Kenvue by 227.7% during the third quarter. Massachusetts Financial Services Co. MA now owns 61,091,189 shares of the company’s stock worth $1,226,711,000 after purchasing an additional 42,449,470 shares during the last quarter. Finally, Morgan Stanley increased its position in shares of Kenvue by 4,057.4% during the third quarter. Morgan Stanley now owns 31,162,614 shares of the company’s stock valued at $625,745,000 after acquiring an additional 30,413,040 shares during the last quarter. 97.64% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently commented on KVUE. JPMorgan Chase & Co. lowered their price objective on shares of Kenvue from $25.00 to $24.00 and set an “overweight” rating for the company in a research note on Friday, February 9th. UBS Group raised their price objective on shares of Kenvue from $20.00 to $23.00 and gave the company a “neutral” rating in a research note on Tuesday, December 19th. The Goldman Sachs Group began coverage on shares of Kenvue in a research note on Friday, March 1st. They issued a “neutral” rating and a $20.00 price objective for the company. Finally, Royal Bank of Canada lowered their price objective on shares of Kenvue from $25.00 to $24.00 and set an “outperform” rating for the company in a research note on Friday, February 9th. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $25.42.

Kenvue Stock Down 0.1 %

KVUE stock traded down $0.02 during midday trading on Thursday, reaching $21.43. 14,405,429 shares of the company were exchanged, compared to its average volume of 17,498,615. The stock’s 50-day simple moving average is $20.00 and its 200 day simple moving average is $20.25. Kenvue Inc. has a 1-year low of $17.82 and a 1-year high of $27.80. The company has a quick ratio of 0.78, a current ratio of 1.12 and a debt-to-equity ratio of 0.69.

Kenvue (NYSE:KVUE) last announced its earnings results on Thursday, February 8th. The company reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.03. The business had revenue of $3.67 billion for the quarter, compared to analysts’ expectations of $3.78 billion. Kenvue had a net margin of 9.87% and a return on equity of 15.62%. The firm’s revenue was down 2.7% compared to the same quarter last year. Analysts forecast that Kenvue Inc. will post 1.17 EPS for the current fiscal year.

Kenvue Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 28th. Shareholders of record on Wednesday, February 14th were paid a $0.20 dividend. The ex-dividend date was Tuesday, February 13th. This represents a $0.80 annualized dividend and a yield of 3.73%.

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, and other products under the Tylenol, Nicorette, and Zyrtec brands.