Kenvue Inc. $KVUE Shares Bought by Legal & General Group Plc

Legal & General Group Plc grew its holdings in shares of Kenvue Inc. (NYSE:KVUE) by 2.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 14,785,925 shares of the company’s stock after purchasing an additional 332,870 shares during the period. Legal & General Group Plc owned approximately 0.77% of Kenvue worth $239,976,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. grew its position in Kenvue by 1.8% in the 2nd quarter. Vanguard Group Inc. now owns 233,246,267 shares of the company’s stock valued at $4,881,844,000 after buying an additional 4,101,880 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Kenvue by 1.2% during the 2nd quarter. Geode Capital Management LLC now owns 49,001,887 shares of the company’s stock worth $1,021,267,000 after buying an additional 604,953 shares in the last quarter. American Century Companies Inc. raised its position in shares of Kenvue by 22.4% during the 3rd quarter. American Century Companies Inc. now owns 37,046,660 shares of the company’s stock worth $601,267,000 after buying an additional 6,781,640 shares in the last quarter. Independent Franchise Partners LLP lifted its stake in shares of Kenvue by 233.4% in the 2nd quarter. Independent Franchise Partners LLP now owns 31,265,574 shares of the company’s stock worth $654,388,000 after acquiring an additional 21,886,537 shares during the period. Finally, Norges Bank bought a new position in shares of Kenvue in the second quarter valued at approximately $537,418,000. 97.64% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

KVUE has been the topic of a number of research analyst reports. Jefferies Financial Group lowered shares of Kenvue from a “buy” rating to a “hold” rating and lowered their price objective for the company from $23.00 to $18.00 in a research note on Friday, January 30th. UBS Group increased their price target on Kenvue from $17.00 to $19.00 and gave the company a “neutral” rating in a research note on Wednesday, February 18th. Argus upgraded Kenvue to a “hold” rating in a research report on Friday, March 6th. Canaccord Genuity Group boosted their price objective on Kenvue from $17.00 to $18.00 and gave the stock a “hold” rating in a research note on Wednesday, February 18th. Finally, Zacks Research upgraded Kenvue from a “strong sell” rating to a “hold” rating in a report on Wednesday, November 26th. Three research analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $19.58.

Kenvue Stock Down 1.6%

Shares of KVUE stock opened at $17.38 on Friday. The stock’s 50 day simple moving average is $17.89 and its 200 day simple moving average is $17.35. Kenvue Inc. has a twelve month low of $14.02 and a twelve month high of $25.17. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.68 and a current ratio of 0.96. The company has a market capitalization of $33.30 billion, a price-to-earnings ratio of 22.56, a PEG ratio of 4.01 and a beta of 0.51.

Kenvue (NYSE:KVUE) last announced its earnings results on Tuesday, February 17th. The company reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.05. Kenvue had a return on equity of 19.72% and a net margin of 9.72%.The firm had revenue of $3.78 billion during the quarter, compared to analysts’ expectations of $3.68 billion. During the same quarter in the prior year, the business earned $0.26 earnings per share. The company’s revenue was up 3.2% on a year-over-year basis. As a group, research analysts predict that Kenvue Inc. will post 1.14 EPS for the current year.

Kenvue Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 25th. Investors of record on Wednesday, February 11th were paid a $0.2075 dividend. The ex-dividend date was Wednesday, February 11th. This represents a $0.83 dividend on an annualized basis and a yield of 4.8%. Kenvue’s dividend payout ratio (DPR) is presently 107.79%.

Kenvue Profile

Kenvue is a consumer health company that was established as a standalone, publicly traded business after separating from Johnson & Johnson. Listed on the New York Stock Exchange under the symbol KVUE, Kenvue focuses on the development, manufacture, marketing and distribution of consumer health and personal care products across a range of categories including skin and beauty care, baby care, oral care, wound care and over‑the‑counter medicines.

The company owns and markets a portfolio of widely recognized consumer brands, including names familiar to global shoppers across retail and pharmacy channels.