FORA Capital LLC Purchases Shares of 259,996 Kenvue Inc. (NYSE:KVUE)

FORA Capital LLC bought a new position in shares of Kenvue Inc. (NYSE:KVUE) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 259,996 shares of the company’s stock, valued at approximately $6,014,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. FMR LLC lifted its stake in Kenvue by 2.3% in the 3rd quarter. FMR LLC now owns 137,915,493 shares of the company’s stock worth $3,189,985,000 after purchasing an additional 3,075,019 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Kenvue by 8.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 86,979,341 shares of the company’s stock worth $2,011,832,000 after buying an additional 7,115,374 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Kenvue by 21.0% in the second quarter. Bank of New York Mellon Corp now owns 43,444,085 shares of the company’s stock worth $789,813,000 after buying an additional 7,546,362 shares in the last quarter. American Century Companies Inc. boosted its stake in Kenvue by 20.7% during the second quarter. American Century Companies Inc. now owns 27,382,644 shares of the company’s stock valued at $497,816,000 after buying an additional 4,700,697 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Kenvue by 2.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 24,411,207 shares of the company’s stock valued at $564,689,000 after buying an additional 547,874 shares in the last quarter. Institutional investors own 97.64% of the company’s stock.

Kenvue Trading Up 0.2 %

Shares of KVUE stock traded up $0.05 on Wednesday, reaching $24.17. 935,726 shares of the company’s stock were exchanged, compared to its average volume of 17,819,971. The company’s fifty day simple moving average is $22.87 and its 200 day simple moving average is $20.92. Kenvue Inc. has a 52 week low of $17.67 and a 52 week high of $24.46. The company has a current ratio of 1.00, a quick ratio of 0.69 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $46.34 billion, a PE ratio of 43.85, a P/E/G ratio of 2.20 and a beta of 1.36.

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

Kenvue Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th will be paid a $0.205 dividend. The ex-dividend date is Wednesday, November 13th. This represents a $0.82 dividend on an annualized basis and a yield of 3.39%. Kenvue’s dividend payout ratio is currently 149.09%.

Analysts Set New Price Targets

A number of research analysts have recently commented on KVUE shares. Piper Sandler increased 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 increased their price objective on shares of Kenvue from $24.00 to $27.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. UBS Group boosted their target price on shares of Kenvue from $20.00 to $22.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Jefferies Financial Group started coverage on shares of Kenvue in a report on Tuesday, September 24th. They issued a “buy” rating and a $27.00 price target for the company. Finally, JPMorgan Chase & Co. boosted their price objective on Kenvue from $24.00 to $25.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Kenvue presently has an average rating of “Hold” and a consensus price target of $22.64.

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.