Prudential PLC Grows Stock Position in Kenvue Inc. (NYSE:KVUE)

Prudential PLC boosted its position in Kenvue Inc. (NYSE:KVUE) by 1,699.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 574,143 shares of the company’s stock after buying an additional 542,231 shares during the period. Prudential PLC’s holdings in Kenvue were worth $12,258,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of KVUE. Norges Bank purchased a new stake in shares of Kenvue in the fourth quarter valued at about $521,348,000. State Street Corp lifted its position in Kenvue by 16.8% in the third quarter. State Street Corp now owns 127,213,940 shares of the company’s stock valued at $2,942,458,000 after purchasing an additional 18,283,473 shares during the period. Franklin Resources Inc. boosted its holdings in Kenvue by 61.5% in the 4th quarter. Franklin Resources Inc. now owns 42,719,377 shares of the company’s stock valued at $912,059,000 after purchasing an additional 16,269,721 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in Kenvue by 12.3% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 97,661,344 shares of the company’s stock worth $2,085,070,000 after purchasing an additional 10,682,003 shares during the period. Finally, Boston Partners raised its stake in shares of Kenvue by 36.9% during the 4th quarter. Boston Partners now owns 23,595,963 shares of the company’s stock worth $503,145,000 after buying an additional 6,366,097 shares in the last quarter. 97.64% of the stock is owned by institutional investors and hedge funds.

Kenvue Stock Performance

NYSE KVUE opened at $22.33 on Friday. The company has a quick ratio of 0.69, a current ratio of 1.00 and a debt-to-equity ratio of 0.66. Kenvue Inc. has a fifty-two week low of $17.67 and a fifty-two week high of $24.46. The business has a fifty day moving average of $22.59 and a 200-day moving average of $22.47. The stock has a market cap of $42.68 billion, a price-to-earnings ratio of 42.14, a price-to-earnings-growth ratio of 2.62 and a beta of 1.25.

Kenvue (NYSE:KVUE) last announced its earnings results on Thursday, February 6th. The company reported $0.26 earnings per share for the quarter, meeting the consensus estimate of $0.26. Kenvue had a net margin of 6.66% and a return on equity of 20.97%. As a group, analysts predict that Kenvue Inc. will post 1.14 earnings per share for the current fiscal year.

Kenvue Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th were given a dividend of $0.205 per share. The ex-dividend date was Wednesday, February 12th. This represents a $0.82 dividend on an annualized basis and a yield of 3.67%. Kenvue’s dividend payout ratio (DPR) is currently 154.72%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the company. Canaccord Genuity Group lifted their price target on Kenvue from $24.00 to $29.00 and gave the company a “buy” rating in a research note on Wednesday, March 5th. UBS Group decreased their target price on shares of Kenvue from $23.00 to $21.00 and set a “neutral” rating on the stock in a research report on Friday, February 7th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $24.00 price target on shares of Kenvue in a report on Monday, February 3rd. Piper Sandler boosted their price objective on shares of Kenvue from $24.00 to $27.00 and gave the stock an “overweight” rating in a report on Monday, February 24th. Finally, Citigroup dropped their target price on shares of Kenvue from $25.00 to $21.00 and set a “neutral” rating for the company in a report on Wednesday, January 15th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $24.00.

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.