Byrne Asset Management LLC Increases Holdings in Kenvue Inc. (NYSE:KVUE)

Byrne Asset Management LLC lifted its position in shares of Kenvue Inc. (NYSE:KVUE) by 1.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 63,467 shares of the company’s stock after acquiring an additional 621 shares during the quarter. Kenvue accounts for about 1.1% of Byrne Asset Management LLC’s holdings, making the stock its 22nd biggest position. Byrne Asset Management LLC’s holdings in Kenvue were worth $1,522,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of KVUE. Norges Bank purchased a new stake in Kenvue in the 4th quarter valued at approximately $521,348,000. Starboard Value LP purchased a new stake in Kenvue in the 4th quarter valued at approximately $467,864,000. Franklin Resources Inc. lifted its stake in Kenvue by 61.5% in the 4th quarter. Franklin Resources Inc. now owns 42,719,377 shares of the company’s stock valued at $912,059,000 after buying an additional 16,269,721 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Kenvue by 12.3% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 97,661,344 shares of the company’s stock valued at $2,085,070,000 after buying an additional 10,682,003 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its stake in Kenvue by 3.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 245,885,918 shares of the company’s stock valued at $5,249,665,000 after buying an additional 8,211,748 shares in the last quarter. Hedge funds and other institutional investors own 97.64% of the company’s stock.

Kenvue Stock Down 2.7%

Shares of NYSE KVUE opened at $21.44 on Friday. Kenvue Inc. has a 12-month low of $17.67 and a 12-month high of $25.17. The company has a market cap of $41.14 billion, a P/E ratio of 40.46, a P/E/G ratio of 2.62 and a beta of 0.98. The company has a current ratio of 1.00, a quick ratio of 0.69 and a debt-to-equity ratio of 0.66. The stock has a fifty day moving average price of $23.02 and a 200 day moving average price of $22.52.

Kenvue (NYSE:KVUE) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.01. Kenvue had a return on equity of 20.97% and a net margin of 6.66%. The firm had revenue of $3.74 billion during the quarter, compared to the consensus estimate of $3.69 billion. During the same period in the prior year, the firm earned $0.28 EPS. The firm’s quarterly revenue was down 3.9% compared to the same quarter last year. Research analysts anticipate that Kenvue Inc. will post 1.14 EPS for the current fiscal year.

Kenvue Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 28th. Investors of record on Wednesday, May 14th were issued a $0.205 dividend. The ex-dividend date was Wednesday, May 14th. This represents a $0.82 annualized dividend and a yield of 3.82%. Kenvue’s dividend payout ratio is currently 149.09%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on KVUE shares. Piper Sandler upped their target price on Kenvue from $24.00 to $27.00 and gave the company an “overweight” rating in a research note on Monday, February 24th. UBS Group increased their price target on Kenvue from $24.00 to $25.00 and gave the stock a “neutral” rating in a research note on Friday, May 9th. Citigroup increased their price target on Kenvue from $22.00 to $24.50 and gave the stock a “neutral” rating in a research note on Friday, May 9th. Barclays increased their price target on Kenvue from $22.00 to $23.00 and gave the stock an “equal weight” rating in a research note on Monday, May 12th. Finally, Canaccord Genuity Group increased their price target on Kenvue from $24.00 to $29.00 and gave the stock a “buy” rating in a research note on Wednesday, March 5th. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $25.33.

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.