Norges Bank acquired a new stake in shares of Kenvue Inc. (NYSE:KVUE – Free Report) in the fourth quarter, Holdings Channel reports. The fund acquired 43,876,034 shares of the company’s stock, valued at approximately $756,862,000.
A number of other institutional investors also recently added to or reduced their stakes in the business. Physician Wealth Advisors Inc. boosted its position in Kenvue by 67.5% during the 4th quarter. Physician Wealth Advisors Inc. now owns 1,533 shares of the company’s stock worth $26,000 after acquiring an additional 618 shares during the period. Versor Investments LP raised its stake in shares of Kenvue by 2.8% in the 3rd quarter. Versor Investments LP now owns 26,016 shares of the company’s stock worth $422,000 after buying an additional 716 shares in the last quarter. Philip James Wealth Mangement LLC raised its stake in shares of Kenvue by 5.5% in the 4th quarter. Philip James Wealth Mangement LLC now owns 13,888 shares of the company’s stock worth $240,000 after buying an additional 726 shares in the last quarter. IFG Advisory LLC raised its stake in shares of Kenvue by 5.4% in the 4th quarter. IFG Advisory LLC now owns 15,051 shares of the company’s stock worth $260,000 after buying an additional 766 shares in the last quarter. Finally, Phoenix Financial Ltd. raised its stake in shares of Kenvue by 5.4% in the 4th quarter. Phoenix Financial Ltd. now owns 15,195 shares of the company’s stock worth $262,000 after buying an additional 783 shares in the last quarter. Institutional investors and hedge funds own 97.64% of the company’s stock.
Insider Buying and Selling
In other Kenvue news, General Counsel Matthew Orlando sold 38,491 shares of the company’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $17.66, for a total value of $679,751.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.59% of the stock is currently owned by company insiders.
Kenvue Price Performance
Kenvue (NYSE:KVUE – Get Free Report) last announced its earnings results on Thursday, May 7th. The company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.05. Kenvue had a return on equity of 20.81% and a net margin of 10.61%.The firm had revenue of $3.91 billion during the quarter, compared to the consensus estimate of $3.84 billion. During the same quarter in the prior year, the company earned $0.24 EPS. The firm’s revenue for the quarter was up 4.5% compared to the same quarter last year. Research analysts predict that Kenvue Inc. will post 1.16 earnings per share for the current year.
Kenvue Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, May 27th. Shareholders of record on Wednesday, May 13th were issued a $0.2075 dividend. The ex-dividend date of this dividend was Wednesday, May 13th. This represents a $0.83 annualized dividend and a yield of 4.8%. Kenvue’s dividend payout ratio is 97.65%.
Wall Street Analysts Forecast Growth
A number of brokerages have recently issued reports on KVUE. Barclays cut their target price on Kenvue from $19.00 to $18.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 14th. Weiss Ratings lowered Kenvue from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday. Zacks Research raised Kenvue from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 8th. Citigroup dropped their price target on Kenvue from $20.00 to $19.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 15th. Finally, Canaccord Genuity Group upped their target price on Kenvue from $17.00 to $18.00 and gave the stock a “hold” rating in a research report on Wednesday, February 18th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and twelve have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $19.33.
Read Our Latest Stock Analysis on Kenvue
Kenvue Profile
Kenvue is a consumer health company that was established as a standalone, publicly traded business after separating from Johnson & Johnson. Listed on the New York Stock Exchange under the symbol KVUE, Kenvue focuses on the development, manufacture, marketing and distribution of consumer health and personal care products across a range of categories including skin and beauty care, baby care, oral care, wound care and over‑the‑counter medicines.
The company owns and markets a portfolio of widely recognized consumer brands, including names familiar to global shoppers across retail and pharmacy channels.
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