Yacktman Asset Management LP Boosts Stock Position in Kenvue Inc. (NYSE:KVUE)

Yacktman Asset Management LP grew its holdings in Kenvue Inc. (NYSE:KVUE) by 43.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,409,457 shares of the company’s stock after acquiring an additional 1,635,395 shares during the period. Yacktman Asset Management LP owned about 0.28% of Kenvue worth $116,466,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. purchased a new stake in shares of Kenvue during the 3rd quarter worth $2,944,816,000. FMR LLC boosted its position in shares of Kenvue by 572.1% during the 3rd quarter. FMR LLC now owns 89,182,980 shares of the company’s stock worth $1,790,794,000 after acquiring an additional 75,913,107 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of Kenvue by 576.1% in the 3rd quarter. Wellington Management Group LLP now owns 71,686,830 shares of the company’s stock valued at $1,439,472,000 after acquiring an additional 61,084,123 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of Kenvue by 227.7% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 61,091,189 shares of the company’s stock worth $1,226,711,000 after acquiring an additional 42,449,470 shares in the last quarter. Finally, Morgan Stanley lifted its stake in Kenvue by 4,057.4% during the third quarter. Morgan Stanley now owns 31,162,614 shares of the company’s stock worth $625,745,000 after purchasing an additional 30,413,040 shares during the last quarter. 97.64% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have weighed in on KVUE. William Blair started coverage on shares of Kenvue in a report on Wednesday, April 3rd. They set a “market perform” rating on the stock. JPMorgan Chase & Co. reduced their price target on shares of Kenvue from $25.00 to $24.00 and set an “overweight” rating for the company in a research report on Friday, February 9th. Sanford C. Bernstein assumed coverage on Kenvue in a report on Thursday, April 11th. They set an “underperform” rating and a $18.00 price objective on the stock. Royal Bank of Canada reduced their target price on Kenvue from $25.00 to $24.00 and set an “outperform” rating for the company in a report on Friday, February 9th. Finally, The Goldman Sachs Group initiated coverage on Kenvue in a research note on Friday, March 1st. They set a “neutral” rating and a $20.00 price target on the stock. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Kenvue currently has an average rating of “Hold” and a consensus target price of $24.85.

Kenvue Stock Down 0.4 %

NYSE KVUE traded down $0.07 during trading hours on Friday, hitting $18.95. 9,264,053 shares of the stock were exchanged, compared to its average volume of 16,609,451. The company has a current ratio of 1.12, a quick ratio of 0.78 and a debt-to-equity ratio of 0.69. Kenvue Inc. has a 12-month low of $17.82 and a 12-month high of $27.80. The stock has a 50-day moving average of $19.84 and a 200 day moving average of $20.14.

Kenvue (NYSE:KVUE) last posted its quarterly earnings results on Thursday, February 8th. The company reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.03. Kenvue had a return on equity of 15.62% and a net margin of 9.87%. The firm had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.78 billion. Kenvue’s revenue for the quarter was down 2.7% on a year-over-year basis. Sell-side analysts predict that Kenvue Inc. will post 1.15 earnings per share for the current year.

Kenvue Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Wednesday, May 8th will be issued a $0.20 dividend. The ex-dividend date is Tuesday, May 7th. This represents a $0.80 dividend on an annualized basis and a yield of 4.22%.

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.