Massachusetts Financial Services Co. MA Purchases 7,023,047 Shares of Kenvue Inc. (NYSE:KVUE)

Massachusetts Financial Services Co. MA lifted its position in shares of Kenvue Inc. (NYSE:KVUE) by 9.6% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 79,863,967 shares of the company’s stock after buying an additional 7,023,047 shares during the quarter. Massachusetts Financial Services Co. MA owned about 4.17% of Kenvue worth $1,451,927,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Stephens Inc. AR lifted its position in shares of Kenvue by 86.1% during the 4th quarter. Stephens Inc. AR now owns 57,694 shares of the company’s stock valued at $1,242,000 after acquiring an additional 26,700 shares during the period. Stifel Financial Corp lifted its position in Kenvue by 60.4% during the fourth quarter. Stifel Financial Corp now owns 745,064 shares of the company’s stock worth $16,041,000 after purchasing an additional 280,591 shares during the period. Raleigh Capital Management Inc. increased its holdings in Kenvue by 93,834.8% in the 4th quarter. Raleigh Capital Management Inc. now owns 43,210 shares of the company’s stock valued at $930,000 after buying an additional 43,164 shares during the period. The Manufacturers Life Insurance Company increased its holdings in Kenvue by 2.6% in the 4th quarter. The Manufacturers Life Insurance Company now owns 1,598,567 shares of the company’s stock valued at $34,417,000 after buying an additional 40,995 shares during the period. Finally, Cornerstone Wealth Group LLC raised its position in shares of Kenvue by 176.2% in the 1st quarter. Cornerstone Wealth Group LLC now owns 350,371 shares of the company’s stock valued at $7,519,000 after buying an additional 223,537 shares in the last quarter. Institutional investors own 97.64% of the company’s stock.

Kenvue Trading Up 1.3 %

KVUE opened at $23.39 on Monday. The company’s 50 day moving average price is $20.41 and its two-hundred day moving average price is $19.82. The firm has a market capitalization of $44.80 billion, a price-to-earnings ratio of 29.99, a PEG ratio of 2.92 and a beta of 1.40. Kenvue Inc. has a fifty-two week low of $17.67 and a fifty-two week high of $23.47. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.99 and a quick ratio of 0.68.

Kenvue (NYSE:KVUE) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates 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 return on equity of 21.80% and a net margin of 7.23%. Kenvue’s quarterly revenue was down .3% on a year-over-year basis. During the same period in the prior year, the business posted $0.32 earnings per share. As a group, research analysts predict that Kenvue Inc. will post 1.08 earnings per share for the current year.

Kenvue Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 28th. Investors of record on Wednesday, August 14th were paid a $0.205 dividend. This is a positive change from Kenvue’s previous quarterly dividend of $0.20. This represents a $0.82 dividend on an annualized basis and a dividend yield of 3.51%. The ex-dividend date of this dividend was Wednesday, August 14th. Kenvue’s payout ratio is currently 105.13%.

Wall Street Analyst Weigh In

KVUE has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. lifted their price objective on shares of Kenvue from $22.00 to $24.00 and gave the company an “overweight” rating in a research note on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft upped their price objective on Kenvue from $23.00 to $24.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. UBS Group lifted their target price on Kenvue from $20.00 to $22.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Royal Bank of Canada reissued an “outperform” rating and set a $24.00 target price on shares of Kenvue in a research note on Wednesday, August 7th. Finally, Citigroup decreased their price target on shares of Kenvue from $21.00 to $20.00 and set a “neutral” rating on the stock in a report on Wednesday, July 10th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Kenvue currently has an average rating of “Hold” and an average price target of $21.44.

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.