OLD National Bancorp IN Invests $326,000 in Kenvue Inc. (NYSE:KVUE)

OLD National Bancorp IN purchased a new position in shares of Kenvue Inc. (NYSE:KVUE) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 15,155 shares of the company’s stock, valued at approximately $326,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. CWM LLC increased its holdings in shares of Kenvue by 142.8% during the 4th quarter. CWM LLC now owns 31,488 shares of the company’s stock worth $678,000 after buying an additional 18,519 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in Kenvue by 20.0% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 164,176 shares of the company’s stock valued at $3,535,000 after purchasing an additional 27,330 shares during the last quarter. Nicholas Hoffman & Company LLC. increased its holdings in Kenvue by 100.3% in the 4th quarter. Nicholas Hoffman & Company LLC. now owns 50,783 shares of the company’s stock valued at $1,093,000 after purchasing an additional 25,430 shares during the last quarter. Verdence Capital Advisors LLC acquired a new stake in Kenvue in the 4th quarter valued at approximately $582,000. Finally, Calamos Wealth Management LLC acquired a new stake in Kenvue in the 4th quarter valued at approximately $204,000. Institutional investors and hedge funds own 97.64% of the company’s stock.

Wall Street Analysts Forecast Growth

KVUE has been the subject of several research reports. William Blair initiated coverage on shares of Kenvue in a report on Wednesday, April 3rd. They issued a “market perform” rating for the company. Royal Bank of Canada dropped their target price on shares of Kenvue from $25.00 to $24.00 and set an “outperform” rating for the company in a report on Friday, February 9th. The Goldman Sachs Group initiated coverage on shares of Kenvue in a report on Friday, March 1st. They issued a “neutral” rating and a $20.00 target price for the company. JPMorgan Chase & Co. dropped their target price on shares of Kenvue from $25.00 to $24.00 and set an “overweight” rating for the company in a report on Friday, February 9th. Finally, Sanford C. Bernstein assumed coverage on shares of Kenvue in a research note on Thursday, April 11th. They issued an “underperform” rating and a $18.00 price target for the company. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $24.85.

Kenvue Price Performance

Kenvue stock opened at $19.02 on Friday. The company has a fifty day simple moving average of $19.84 and a 200-day simple moving average of $20.14. Kenvue Inc. has a 12-month low of $17.82 and a 12-month high of $27.80. The company has a quick ratio of 0.78, a current ratio of 1.12 and a debt-to-equity ratio of 0.69.

Kenvue (NYSE:KVUE) last released its quarterly earnings data on Thursday, February 8th. The company reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.03. The business had revenue of $3.67 billion during the quarter, compared to analysts’ expectations of $3.78 billion. Kenvue had a net margin of 9.87% and a return on equity of 15.62%. Kenvue’s revenue for the quarter was down 2.7% on a year-over-year basis. Research analysts expect that Kenvue Inc. will post 1.15 EPS for the current year.

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.