Nuveen Asset Management LLC Raises Stake in Kenvue Inc. (NYSE:KVUE)

Nuveen Asset Management LLC boosted its holdings in Kenvue Inc. (NYSE:KVUE) by 13.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 10,360,001 shares of the company’s stock after buying an additional 1,198,432 shares during the period. Nuveen Asset Management LLC owned 0.54% of Kenvue worth $221,186,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Kiley Juergens Wealth Management LLC boosted its holdings in Kenvue by 1.9% in the 4th quarter. Kiley Juergens Wealth Management LLC now owns 27,110 shares of the company’s stock worth $579,000 after acquiring an additional 500 shares during the period. Principle Wealth Partners LLC lifted its position in shares of Kenvue by 3.7% during the fourth quarter. Principle Wealth Partners LLC now owns 14,194 shares of the company’s stock worth $303,000 after purchasing an additional 500 shares in the last quarter. White Pine Capital LLC boosted its stake in shares of Kenvue by 1.0% in the fourth quarter. White Pine Capital LLC now owns 54,572 shares of the company’s stock valued at $1,165,000 after purchasing an additional 542 shares during the period. Deseret Mutual Benefit Administrators grew its holdings in Kenvue by 29.0% during the 4th quarter. Deseret Mutual Benefit Administrators now owns 2,528 shares of the company’s stock valued at $54,000 after purchasing an additional 568 shares in the last quarter. Finally, SRS Capital Advisors Inc. increased its stake in Kenvue by 67.4% during the 4th quarter. SRS Capital Advisors Inc. now owns 1,418 shares of the company’s stock worth $30,000 after buying an additional 571 shares during the period. Institutional investors and hedge funds own 97.64% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on KVUE shares. Barclays increased their price target on Kenvue from $22.00 to $23.00 and gave the company an “equal weight” rating in a report on Monday. Canaccord Genuity Group increased their target price on Kenvue from $24.00 to $29.00 and gave the company a “buy” rating in a research note on Wednesday, March 5th. Royal Bank of Canada restated a “sector perform” rating and issued a $24.00 price target on shares of Kenvue in a research note on Monday, February 3rd. Piper Sandler upped their price target on shares of Kenvue from $24.00 to $27.00 and gave the company an “overweight” rating in a report on Monday, February 24th. Finally, Evercore ISI began coverage on shares of Kenvue in a report on Monday, March 24th. They set an “in-line” rating and a $25.00 price objective for the company. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, Kenvue has an average rating of “Hold” and an average price target of $25.33.

Kenvue Trading Up 2.8%

Kenvue stock opened at $23.86 on Friday. Kenvue Inc. has a 1 year low of $17.67 and a 1 year high of $25.17. The firm’s 50-day moving average is $23.15 and its 200-day moving average is $22.58. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.69 and a current ratio of 1.00. The company has a market cap of $45.78 billion, a P/E ratio of 45.02, a PEG ratio of 2.62 and a beta of 1.02.

Kenvue (NYSE:KVUE) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.01. Kenvue had a net margin of 6.66% and a return on equity of 20.97%. The firm had revenue of $3.74 billion for the quarter, compared to analyst estimates of $3.69 billion. During the same quarter in the prior year, the business earned $0.28 earnings per share. Kenvue’s quarterly revenue was down 3.9% on a year-over-year basis. On average, equities analysts expect that Kenvue Inc. will post 1.14 earnings per share for the current year.

Kenvue Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 28th. Stockholders of record on Wednesday, May 14th will be given a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a dividend yield of 3.44%. The ex-dividend date of this dividend is Wednesday, May 14th. Kenvue’s payout ratio is 149.09%.

Kenvue Company Profile

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.