Fifth Third Wealth Advisors LLC Raises Stock Position in Kenvue Inc. (NYSE:KVUE)

Fifth Third Wealth Advisors LLC grew its holdings in shares of Kenvue Inc. (NYSE:KVUE) by 64.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 42,292 shares of the company’s stock after purchasing an additional 16,626 shares during the period. Fifth Third Wealth Advisors LLC’s holdings in Kenvue were worth $908,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. acquired a new position in shares of Kenvue during the third quarter worth about $2,944,816,000. Wellington Management Group LLP boosted its holdings in Kenvue by 576.1% in the third quarter. Wellington Management Group LLP now owns 71,686,830 shares of the company’s stock valued at $1,439,472,000 after purchasing an additional 61,084,123 shares in the last quarter. Morgan Stanley boosted its holdings 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 in the last quarter. Laurion Capital Management LP boosted its holdings in Kenvue by 4,473.9% in the third quarter. Laurion Capital Management LP now owns 18,801,154 shares of the company’s stock valued at $377,527,000 after purchasing an additional 18,390,102 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its holdings in Kenvue by 19.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 109,327,221 shares of the company’s stock valued at $2,353,816,000 after purchasing an additional 18,118,056 shares in the last quarter. 97.64% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on KVUE shares. Sanford C. Bernstein started coverage on Kenvue in a research note on Thursday, April 11th. They set an “underperform” rating and a $18.00 price target for the company. Citigroup restated a “neutral” rating and set a $21.00 price target on shares of Kenvue in a research note on Tuesday, May 28th. William Blair started coverage on Kenvue in a research note on Wednesday, April 3rd. They set a “market perform” rating for the company. The Goldman Sachs Group started coverage on Kenvue in a research note on Friday, March 1st. They set a “neutral” rating and a $20.00 price target for the company. Finally, HSBC increased their price objective on Kenvue from $20.00 to $21.00 and gave the stock a “hold” rating in a research report on Wednesday, May 8th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $23.09.

Kenvue Trading Down 1.3 %

Shares of NYSE KVUE traded down $0.24 during midday trading on Friday, hitting $18.18. The stock had a trading volume of 51,494,805 shares, compared to its average volume of 19,557,768. The company has a market capitalization of $34.81 billion and a price-to-earnings ratio of 23.62. Kenvue Inc. has a 1-year low of $17.75 and a 1-year high of $26.66. The company has a quick ratio of 0.68, a current ratio of 0.99 and a debt-to-equity ratio of 0.66. The company has a fifty day moving average price of $19.22 and a 200 day moving average price of $20.00.

Kenvue (NYSE:KVUE) last released its quarterly earnings data on Tuesday, May 7th. The company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.03. The business had revenue of $2.89 billion for the quarter, compared to analyst estimates of $3.79 billion. Kenvue had a return on equity of 21.06% and a net margin of 9.63%. Kenvue’s quarterly revenue was down 24.9% compared to the same quarter last year. On average, analysts predict that Kenvue Inc. will post 1.17 earnings per share for the current year.

Kenvue Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 22nd. Investors of record on Wednesday, May 8th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 4.40%. The ex-dividend date of this dividend was Tuesday, May 7th. Kenvue’s dividend payout ratio (DPR) is presently 102.56%.

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.