Asahi Life Asset Management CO. LTD. Acquires 4,290 Shares of Kenvue Inc. (NYSE:KVUE)

Asahi Life Asset Management CO. LTD. boosted its holdings in shares of Kenvue Inc. (NYSE:KVUE) by 34.2% in the 4th quarter, Holdings Channel.com reports. The firm owned 16,830 shares of the company’s stock after purchasing an additional 4,290 shares during the quarter. Asahi Life Asset Management CO. LTD.’s holdings in Kenvue were worth $359,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Huntington National Bank boosted its stake in Kenvue by 26.5% during the 3rd quarter. Huntington National Bank now owns 4,161 shares of the company’s stock valued at $96,000 after purchasing an additional 871 shares during the period. ING Groep NV raised its holdings in Kenvue by 23.6% in the 3rd quarter. ING Groep NV now owns 3,576,616 shares of the company’s stock valued at $82,727,000 after acquiring an additional 681,954 shares in the last quarter. Handelsbanken Fonder AB raised its holdings in Kenvue by 2.9% in the 4th quarter. Handelsbanken Fonder AB now owns 742,184 shares of the company’s stock valued at $15,846,000 after acquiring an additional 21,222 shares in the last quarter. Alberta Investment Management Corp raised its holdings in Kenvue by 23.2% in the 4th quarter. Alberta Investment Management Corp now owns 582,895 shares of the company’s stock valued at $12,445,000 after acquiring an additional 109,700 shares in the last quarter. Finally, Longbow Finance SA raised its holdings in Kenvue by 5.0% in the 4th quarter. Longbow Finance SA now owns 280,568 shares of the company’s stock valued at $5,990,000 after acquiring an additional 13,287 shares in the last quarter. Institutional investors own 97.64% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Canaccord Genuity Group cut their price target on Kenvue from $27.00 to $24.00 and set a “buy” rating for the company in a report on Friday, February 7th. Deutsche Bank Aktiengesellschaft cut Kenvue from a “buy” rating to a “hold” rating and cut their price target for the company from $25.00 to $24.00 in a report on Thursday, December 12th. Barclays cut their price target on Kenvue from $23.00 to $21.00 and set an “equal weight” rating for the company in a report on Friday, January 17th. UBS Group cut their price target on Kenvue from $23.00 to $21.00 and set a “neutral” rating for the company in a report on Friday, February 7th. Finally, Piper Sandler upped their price target on Kenvue from $24.00 to $27.00 and gave the company an “overweight” rating in a report on Monday, February 24th. One analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $23.33.

Kenvue Trading Up 1.9 %

Shares of KVUE opened at $23.58 on Friday. The stock has a 50 day simple moving average of $21.46 and a 200-day simple moving average of $22.26. Kenvue Inc. has a 1 year low of $17.67 and a 1 year high of $24.46. The stock has a market cap of $45.07 billion, a PE ratio of 44.49, a PEG ratio of 2.62 and a beta of 1.45. The company has a current ratio of 1.00, a quick ratio of 0.69 and a debt-to-equity ratio of 0.66.

Kenvue (NYSE:KVUE) last released its quarterly earnings results on Thursday, February 6th. The company reported $0.26 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.26. Kenvue had a return on equity of 20.97% and a net margin of 6.66%. On average, sell-side analysts predict that Kenvue Inc. will post 1.14 EPS for the current fiscal year.

Kenvue Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th were issued a dividend of $0.205 per share. The ex-dividend date was Wednesday, February 12th. This represents a $0.82 dividend on an annualized basis and a yield of 3.48%. Kenvue’s dividend payout ratio is 154.72%.

Kenvue 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.