New York Life Investment Management LLC Buys 308,172 Shares of Kenvue Inc. $KVUE

New York Life Investment Management LLC lifted its stake in Kenvue Inc. (NYSE:KVUE) by 109.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 590,363 shares of the company’s stock after acquiring an additional 308,172 shares during the period. New York Life Investment Management LLC’s holdings in Kenvue were worth $10,184,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Allworth Financial LP boosted its holdings in shares of Kenvue by 9.7% in the fourth quarter. Allworth Financial LP now owns 35,118 shares of the company’s stock worth $606,000 after acquiring an additional 3,109 shares during the period. Independent Advisor Alliance boosted its holdings in shares of Kenvue by 65.6% in the fourth quarter. Independent Advisor Alliance now owns 73,417 shares of the company’s stock worth $1,266,000 after acquiring an additional 29,087 shares during the period. World Investment Advisors boosted its holdings in shares of Kenvue by 60.9% in the fourth quarter. World Investment Advisors now owns 19,670 shares of the company’s stock worth $339,000 after acquiring an additional 7,444 shares during the period. ELCO Management Co. LLC boosted its holdings in shares of Kenvue by 55.2% in the fourth quarter. ELCO Management Co. LLC now owns 25,670 shares of the company’s stock worth $443,000 after acquiring an additional 9,125 shares during the period. Finally, AG2R LA Mondiale Gestion D Actifs boosted its holdings in shares of Kenvue by 17.4% in the fourth quarter. AG2R LA Mondiale Gestion D Actifs now owns 88,887 shares of the company’s stock worth $1,533,000 after acquiring an additional 13,204 shares during the period. 97.64% of the stock is owned by institutional investors.

Kenvue Price Performance

NYSE:KVUE opened at $17.09 on Friday. The firm has a market capitalization of $32.81 billion, a price-to-earnings ratio of 20.10, a P/E/G ratio of 1.30 and a beta of 0.55. Kenvue Inc. has a 52-week low of $14.02 and a 52-week high of $24.35. The stock has a fifty day moving average of $17.48 and a 200 day moving average of $17.32. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.68 and a current ratio of 0.98.

Kenvue (NYSE:KVUE) last announced its earnings results on Thursday, May 7th. The company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.05. The company had revenue of $3.91 billion during the quarter, compared to analyst estimates of $3.84 billion. Kenvue had a net margin of 10.61% and a return on equity of 20.81%. The firm’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.24 earnings per share. On average, research analysts expect that Kenvue Inc. will post 1.16 EPS for the current fiscal year.

Kenvue Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 27th. Shareholders of record on Wednesday, May 13th will be paid a dividend of $0.2075 per share. The ex-dividend date of this dividend is Wednesday, May 13th. This represents a $0.83 annualized dividend and a yield of 4.9%. Kenvue’s payout ratio is 97.65%.

Insider Transactions at Kenvue

In other Kenvue news, General Counsel Matthew Orlando sold 38,491 shares of Kenvue stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $17.66, for a total transaction of $679,751.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.59% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

KVUE has been the subject of a number of analyst reports. Zacks Research raised Kenvue from a “hold” rating to a “strong-buy” rating in a report on Friday, May 8th. Barclays dropped their price objective on Kenvue from $19.00 to $18.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 14th. Citigroup dropped their price objective on Kenvue from $20.00 to $19.00 and set a “neutral” rating for the company in a research note on Wednesday, April 15th. Canaccord Genuity Group lifted their price objective on Kenvue from $17.00 to $18.00 and gave the company a “hold” rating in a research note on Wednesday, February 18th. Finally, UBS Group dropped their price objective on Kenvue from $19.00 to $18.00 and set a “neutral” rating for the company in a research note on Tuesday, April 7th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and twelve have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $19.33.

Kenvue Company 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.