Hartford Investment Management Co. Has $2.79 Million Holdings in Kenvue Inc. (NYSE:KVUE)

Hartford Investment Management Co. decreased its holdings in shares of Kenvue Inc. (NYSE:KVUE) by 1.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 120,507 shares of the company’s stock after selling 2,059 shares during the quarter. Hartford Investment Management Co.’s holdings in Kenvue were worth $2,787,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Cornerstone Wealth Group LLC grew its position in Kenvue by 176.2% during the 1st quarter. Cornerstone Wealth Group LLC now owns 350,371 shares of the company’s stock worth $7,519,000 after acquiring an additional 223,537 shares during the last quarter. Janney Montgomery Scott LLC grew its holdings in shares of Kenvue by 56.2% during the first quarter. Janney Montgomery Scott LLC now owns 1,840,875 shares of the company’s stock worth $39,505,000 after purchasing an additional 662,666 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Kenvue in the first quarter valued at approximately $1,050,000. Norden Group LLC bought a new position in Kenvue in the 1st quarter valued at approximately $1,792,000. Finally, Lorne Steinberg Wealth Management Inc. boosted its position in Kenvue by 59.0% during the 2nd quarter. Lorne Steinberg Wealth Management Inc. now owns 154,690 shares of the company’s stock worth $2,812,000 after buying an additional 57,375 shares during the period. Institutional investors own 97.64% of the company’s stock.

Kenvue Stock Performance

Shares of KVUE stock opened at $22.75 on Thursday. The firm has a 50 day moving average of $22.36 and a 200-day moving average of $20.26. The company has a market cap of $43.56 billion, a price-to-earnings ratio of 29.17, a price-to-earnings-growth ratio of 2.76 and a beta of 1.40. The company has a quick ratio of 0.68, a current ratio of 0.99 and a debt-to-equity ratio of 0.69. Kenvue Inc. has a 52 week low of $17.67 and a 52 week high of $23.55.

Kenvue (NYSE:KVUE) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.04. Kenvue had a net margin of 7.23% and a return on equity of 21.80%. The business had revenue of $4 billion during the quarter, compared to analysts’ expectations of $3.93 billion. During the same period last year, the company posted $0.32 earnings per share. The business’s quarterly revenue was down .3% on a year-over-year basis. On average, equities analysts forecast that Kenvue Inc. will post 1.08 earnings per share for the current year.

Kenvue Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th will be paid a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a yield of 3.60%. The ex-dividend date of this dividend is Wednesday, November 13th. Kenvue’s dividend payout ratio (DPR) is currently 105.13%.

Analyst Ratings Changes

Several equities analysts have issued reports on KVUE shares. Royal Bank of Canada cut shares of Kenvue from an “outperform” rating to a “sector perform” rating and set a $24.00 price target for the company. in a research report on Tuesday, September 24th. Bank of America raised their target price on Kenvue from $24.00 to $27.00 and gave the stock a “buy” rating in a research report on Tuesday. JPMorgan Chase & Co. upped their price target on Kenvue from $24.00 to $25.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. Deutsche Bank Aktiengesellschaft raised their price objective on Kenvue from $23.00 to $24.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Finally, Jefferies Financial Group initiated coverage on Kenvue in a report on Tuesday, September 24th. They issued a “buy” rating and a $27.00 target price on the stock. One analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Kenvue presently has a consensus rating of “Hold” and a consensus target price of $22.64.

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.