Bessemer Group Inc. Has $56.62 Million Position in Kenvue Inc. (NYSE:KVUE)

Bessemer Group Inc. lessened its holdings in Kenvue Inc. (NYSE:KVUE) by 3.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,361,176 shares of the company’s stock after selling 79,922 shares during the period. Bessemer Group Inc. owned 0.12% of Kenvue worth $56,620,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. LaFleur & Godfrey LLC raised its position in shares of Kenvue by 29.8% in the fourth quarter. LaFleur & Godfrey LLC now owns 81,300 shares of the company’s stock valued at $1,736,000 after purchasing an additional 18,650 shares during the period. Atria Wealth Solutions Inc. grew its stake in Kenvue by 106.9% in the 4th quarter. Atria Wealth Solutions Inc. now owns 18,257 shares of the company’s stock valued at $390,000 after buying an additional 9,432 shares during the last quarter. Private Advisor Group LLC grew its stake in Kenvue by 34.1% in the 4th quarter. Private Advisor Group LLC now owns 50,076 shares of the company’s stock valued at $1,069,000 after buying an additional 12,729 shares during the last quarter. Ieq Capital LLC raised its holdings in Kenvue by 20.0% in the 4th quarter. Ieq Capital LLC now owns 12,853 shares of the company’s stock valued at $274,000 after acquiring an additional 2,146 shares during the period. Finally, Sigma Planning Corp lifted its position in Kenvue by 2.5% during the fourth quarter. Sigma Planning Corp now owns 39,641 shares of the company’s stock worth $846,000 after acquiring an additional 955 shares during the last quarter. Institutional investors and hedge funds own 97.64% of the company’s stock.

Kenvue Stock Down 0.1%

KVUE stock opened at $21.17 on Thursday. Kenvue Inc. has a 52 week low of $17.67 and a 52 week high of $25.17. The business has a 50-day simple moving average of $22.93 and a 200 day simple moving average of $22.39. The company has a quick ratio of 0.60, a current ratio of 0.86 and a debt-to-equity ratio of 0.63. The company has a market cap of $40.62 billion, a PE ratio of 38.49, a price-to-earnings-growth ratio of 3.29 and a beta of 0.98.

Kenvue (NYSE:KVUE) last issued its earnings results on Thursday, May 8th. The company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.23 by $0.01. The company had revenue of $3.74 billion during the quarter, compared to analysts’ expectations of $3.69 billion. Kenvue had a net margin of 6.90% and a return on equity of 20.87%. The business’s revenue for the quarter was down 3.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.28 EPS. Sell-side analysts anticipate that Kenvue Inc. will post 1.14 EPS for the current fiscal year.

Kenvue Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 28th. Shareholders of record on Wednesday, May 14th were issued a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a dividend yield of 3.87%. The ex-dividend date of this dividend was Wednesday, May 14th. Kenvue’s dividend payout ratio is presently 149.09%.

Analysts Set New Price Targets

KVUE has been the topic of several research reports. Canaccord Genuity Group upped their target price on Kenvue from $24.00 to $29.00 and gave the company a “buy” rating in a research report on Wednesday, March 5th. Evercore ISI assumed coverage on Kenvue in a report on Monday, March 24th. They issued an “in-line” rating and a $25.00 price objective on the stock. Redburn Atlantic assumed coverage on Kenvue in a research report on Thursday, April 10th. They set a “neutral” rating and a $23.50 price objective on the stock. UBS Group lifted their target price on Kenvue from $24.00 to $25.00 and gave the stock a “neutral” rating in a report on Friday, May 9th. Finally, Barclays upped their price target on shares of Kenvue from $22.00 to $23.00 and gave the company an “equal weight” rating in a research note on Monday, May 12th. Seven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Kenvue currently has a consensus rating of “Hold” and a consensus target price 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.