Allstate Corp Makes New $1.23 Million Investment in Kenvue Inc. (NYSE:KVUE)

Allstate Corp bought a new stake in shares of Kenvue Inc. (NYSE:KVUE) during the 4th quarter, Holdings Channel.com reports. The institutional investor bought 57,503 shares of the company’s stock, valued at approximately $1,228,000.

A number of other institutional investors have also recently made changes to their positions in the business. Grove Bank & Trust boosted its stake in Kenvue by 438.4% during the fourth quarter. Grove Bank & Trust now owns 1,163 shares of the company’s stock worth $25,000 after buying an additional 947 shares during the period. Geneos Wealth Management Inc. purchased a new position in shares of Kenvue during the 4th quarter worth about $29,000. SRS Capital Advisors Inc. grew its holdings in Kenvue by 67.4% during the 4th quarter. SRS Capital Advisors Inc. now owns 1,418 shares of the company’s stock valued at $30,000 after purchasing an additional 571 shares during the last quarter. Fortitude Family Office LLC grew its holdings in Kenvue by 106.6% during the 4th quarter. Fortitude Family Office LLC now owns 1,506 shares of the company’s stock valued at $32,000 after purchasing an additional 777 shares during the last quarter. Finally, Versant Capital Management Inc raised its position in Kenvue by 300.8% in the 4th quarter. Versant Capital Management Inc now owns 1,920 shares of the company’s stock worth $41,000 after purchasing an additional 1,441 shares during the period. Institutional investors own 97.64% of the company’s stock.

Kenvue Stock Up 1.0 %

Kenvue stock opened at $23.74 on Monday. The firm has a market cap of $45.36 billion, a P/E ratio of 44.78, a P/E/G ratio of 2.62 and a beta of 1.25. The company has a quick ratio of 0.69, a current ratio of 1.00 and a debt-to-equity ratio of 0.66. Kenvue Inc. has a twelve month low of $17.67 and a twelve month high of $24.46. The business has a fifty day moving average of $22.32 and a two-hundred day moving average of $22.45.

Kenvue (NYSE:KVUE) last issued its quarterly earnings data 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, analysts forecast that Kenvue Inc. will post 1.14 earnings per share for the current fiscal year.

Kenvue Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th were given a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a dividend yield of 3.45%. The ex-dividend date of this dividend was Wednesday, February 12th. Kenvue’s payout ratio is currently 154.72%.

Analyst Ratings Changes

Several brokerages have commented on KVUE. Citigroup cut their price objective on Kenvue from $25.00 to $21.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 15th. UBS Group cut their price target on shares of Kenvue from $23.00 to $21.00 and set a “neutral” rating on the stock in a report on Friday, February 7th. Deutsche Bank Aktiengesellschaft lowered shares of Kenvue from a “buy” rating to a “hold” rating and decreased their price objective for the company from $25.00 to $24.00 in a report on Thursday, December 12th. Royal Bank of Canada restated a “sector perform” rating and issued a $24.00 target price on shares of Kenvue in a research note on Monday, February 3rd. Finally, Canaccord Genuity Group lifted their price target on shares of Kenvue from $24.00 to $29.00 and gave the company a “buy” rating in a research note on Wednesday, March 5th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $24.00.

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.