Kenvue Inc. (NYSE:KVUE) Shares Purchased by Principal Financial Group Inc.

Principal Financial Group Inc. raised its holdings in Kenvue Inc. (NYSE:KVUE) by 3.2% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 2,364,451 shares of the company’s stock after acquiring an additional 73,542 shares during the quarter. Principal Financial Group Inc.’s holdings in Kenvue were worth $54,690,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Riverview Trust Co acquired a new position in Kenvue during the 3rd quarter worth approximately $30,000. Ashton Thomas Securities LLC purchased a new position in shares of Kenvue during the third quarter worth about $35,000. Deseret Mutual Benefit Administrators grew its stake in shares of Kenvue by 49.7% in the 3rd quarter. Deseret Mutual Benefit Administrators now owns 1,960 shares of the company’s stock valued at $45,000 after purchasing an additional 651 shares during the last quarter. Studio Investment Management LLC grew its position in Kenvue by 52.1% in the 2nd quarter. Studio Investment Management LLC now owns 2,468 shares of the company’s stock valued at $45,000 after buying an additional 845 shares during the last quarter. Finally, Brooklyn Investment Group purchased a new stake in shares of Kenvue in the third quarter valued at about $71,000. 97.64% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on KVUE. Piper Sandler upped their price objective on Kenvue from $20.00 to $21.00 and gave the stock a “neutral” rating in a report on Monday, September 23rd. Barclays raised shares of Kenvue to a “hold” rating in a research note on Thursday, December 12th. JPMorgan Chase & Co. boosted their target price on shares of Kenvue from $24.00 to $25.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. Deutsche Bank Aktiengesellschaft downgraded Kenvue from a “buy” rating to a “hold” rating and cut their price target for the company from $25.00 to $24.00 in a report on Thursday, December 12th. Finally, Bank of America increased their price objective on shares of Kenvue from $24.00 to $27.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. One analyst has rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $22.64.

Kenvue Price Performance

KVUE stock opened at $21.77 on Monday. The stock has a 50-day simple moving average of $22.97 and a 200-day simple moving average of $21.31. The firm has a market cap of $41.74 billion, a P/E ratio of 39.58, a price-to-earnings-growth ratio of 2.02 and a beta of 1.36. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.69 and a current ratio of 1.00. Kenvue Inc. has a 1 year low of $17.67 and a 1 year high of $24.46.

Kenvue (NYSE:KVUE) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.01. The firm had revenue of $3.90 billion for the quarter, compared to analyst estimates of $3.92 billion. Kenvue had a net margin of 6.88% and a return on equity of 21.43%. The firm’s revenue was down .4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.31 EPS. On average, equities analysts predict that Kenvue Inc. will post 1.07 earnings per share for the current fiscal year.

Kenvue Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th were paid a dividend of $0.205 per share. The ex-dividend date of this dividend was Wednesday, November 13th. This represents a $0.82 dividend on an annualized basis and a yield of 3.77%. Kenvue’s dividend payout ratio (DPR) 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.