Harris Associates L P Boosts Holdings in Kenvue Inc. (NYSE:KVUE)

Harris Associates L P raised its holdings in shares of Kenvue Inc. (NYSE:KVUE) by 7.5% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 31,459,511 shares of the company’s stock after purchasing an additional 2,186,114 shares during the quarter. Kenvue accounts for 0.9% of Harris Associates L P’s portfolio, making the stock its 29th largest position. Harris Associates L P owned 1.64% of Kenvue worth $727,658,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Riverview Trust Co bought a new position in shares of Kenvue during the 3rd quarter worth approximately $30,000. Ashton Thomas Securities LLC bought a new position in shares of Kenvue during the third quarter worth approximately $35,000. Deseret Mutual Benefit Administrators boosted its holdings in shares of Kenvue by 49.7% during the 3rd quarter. Deseret Mutual Benefit Administrators now owns 1,960 shares of the company’s stock valued at $45,000 after acquiring an additional 651 shares in the last quarter. Studio Investment Management LLC increased its stake in shares of Kenvue by 52.1% in the second quarter. Studio Investment Management LLC now owns 2,468 shares of the company’s stock valued at $45,000 after buying an additional 845 shares during the period. Finally, Brooklyn Investment Group acquired a new position in shares of Kenvue during the third quarter valued at about $71,000. 97.64% of the stock is currently owned by institutional investors and hedge funds.

Kenvue Price Performance

NYSE:KVUE opened at $24.26 on Tuesday. The company has a market capitalization of $46.51 billion, a price-to-earnings ratio of 44.11, a PEG ratio of 2.19 and a beta of 1.37. Kenvue Inc. has a 52 week low of $17.67 and a 52 week high of $24.46. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.69 and a current ratio of 1.00. The company has a 50-day moving average of $22.96 and a 200-day moving average of $21.02.

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

Kenvue Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th were issued a dividend of $0.205 per share. The ex-dividend date of this dividend was Wednesday, November 13th. This represents a $0.82 annualized dividend and a dividend yield of 3.38%. Kenvue’s dividend payout ratio is 149.09%.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. UBS Group boosted their target price on Kenvue from $20.00 to $22.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Royal Bank of Canada lowered Kenvue from an “outperform” rating to a “sector perform” rating and set a $24.00 price objective for the company. in a research note on Tuesday, September 24th. Bank of America upped their price objective on Kenvue from $24.00 to $27.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Piper Sandler upped their price objective on Kenvue from $20.00 to $21.00 and gave the stock a “neutral” rating in a research note on Monday, September 23rd. Finally, Jefferies Financial Group initiated coverage on Kenvue in a report on Tuesday, September 24th. They set a “buy” rating and a $27.00 target price for the company. One research analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus 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.