First Trust Direct Indexing L.P. Boosts Holdings in Kenvue Inc. (NYSE:KVUE)

First Trust Direct Indexing L.P. raised its stake in shares of Kenvue Inc. (NYSE:KVUE) by 48.5% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 52,770 shares of the company’s stock after buying an additional 17,239 shares during the period. First Trust Direct Indexing L.P.’s holdings in Kenvue were worth $1,221,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of KVUE. Price T Rowe Associates Inc. MD grew its position in shares of Kenvue by 23.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 134,565,333 shares of the company’s stock valued at $2,887,773,000 after acquiring an additional 25,238,112 shares during the period. Vanguard Group Inc. increased its holdings in Kenvue by 12.0% in the 1st quarter. Vanguard Group Inc. now owns 166,789,085 shares of the company’s stock worth $3,579,294,000 after acquiring an additional 17,908,497 shares in the last quarter. Van ECK Associates Corp lifted its stake in Kenvue by 110.9% in the 2nd quarter. Van ECK Associates Corp now owns 20,510,427 shares of the company’s stock valued at $372,880,000 after buying an additional 10,783,258 shares in the last quarter. Clearbridge Investments LLC raised its holdings in shares of Kenvue by 16,051.1% during the first quarter. Clearbridge Investments LLC now owns 9,813,597 shares of the company’s stock valued at $210,600,000 after acquiring an additional 9,752,836 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of Kenvue by 21.0% in the second quarter. Bank of New York Mellon Corp now owns 43,444,085 shares of the company’s stock worth $789,813,000 after acquiring an additional 7,546,362 shares during the last quarter. Institutional investors and hedge funds own 97.64% of the company’s stock.

Kenvue Trading Up 0.2 %

NYSE KVUE opened at $22.93 on Friday. Kenvue Inc. has a one year low of $17.67 and a one year high of $23.55. The firm has a 50 day simple moving average of $22.51 and a 200-day simple moving average of $20.38. The firm has a market cap of $43.91 billion, a price-to-earnings ratio of 39.53, a PEG ratio of 3.00 and a beta of 1.40. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.68 and a current ratio of 0.99.

Kenvue (NYSE:KVUE) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.28 by $0.04. The business had revenue of $4 billion during the quarter, compared to the consensus estimate of $3.93 billion. Kenvue had a net margin of 7.23% and a return on equity of 21.80%. The company’s quarterly revenue was down .3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.32 earnings per share. Equities research analysts anticipate that Kenvue Inc. will post 1.08 EPS for the current fiscal year.

Kenvue Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th will be issued a $0.205 dividend. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 3.58%. Kenvue’s payout ratio is 141.38%.

Analysts Set New Price Targets

A number of research analysts have weighed in on KVUE shares. JPMorgan Chase & Co. raised their price objective on Kenvue from $24.00 to $25.00 and gave the company an “overweight” rating in a report on Friday, October 11th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Kenvue from $23.00 to $24.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Royal Bank of Canada lowered shares of Kenvue from an “outperform” rating to a “sector perform” rating and set a $24.00 target price on the stock. in a report on Tuesday, September 24th. Jefferies Financial Group started coverage on shares of Kenvue in a report on Tuesday, September 24th. They set a “buy” rating and a $27.00 price target for the company. Finally, Citigroup decreased their price objective on Kenvue from $21.00 to $20.00 and set a “neutral” rating on the stock in a report on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Kenvue has an average rating of “Hold” and an average price target 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.