Raymond James Financial Inc. Invests $98.93 Million in Kenvue Inc. (NYSE:KVUE)

Raymond James Financial Inc. bought a new position in Kenvue Inc. (NYSE:KVUE) in the 4th quarter, HoldingsChannel.com reports. The institutional investor bought 4,633,553 shares of the company’s stock, valued at approximately $98,926,000.

Several other institutional investors and hedge funds have also recently modified their holdings of KVUE. Grove Bank & Trust lifted its position in shares of Kenvue by 438.4% in the 4th quarter. Grove Bank & Trust now owns 1,163 shares of the company’s stock worth $25,000 after purchasing an additional 947 shares during the period. Geneos Wealth Management Inc. purchased a new stake in shares of Kenvue in the 4th quarter worth about $29,000. SRS Capital Advisors Inc. lifted its position in shares of Kenvue by 67.4% in the 4th quarter. SRS Capital Advisors Inc. now owns 1,418 shares of the company’s stock worth $30,000 after purchasing an additional 571 shares during the period. Fortitude Family Office LLC lifted its position in shares of Kenvue by 106.6% in the 4th quarter. Fortitude Family Office LLC now owns 1,506 shares of the company’s stock worth $32,000 after purchasing an additional 777 shares during the period. Finally, Ashton Thomas Securities LLC purchased a new stake in shares of Kenvue in the 3rd quarter worth about $35,000. 97.64% of the stock is owned by hedge funds and other institutional investors.

Kenvue Stock Up 1.2 %

NYSE:KVUE opened at $23.46 on Friday. The firm has a market cap of $44.83 billion, a P/E ratio of 44.25, a P/E/G ratio of 2.62 and a beta of 1.25. 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 fifty-two week low of $17.67 and a fifty-two week high of $24.46. The firm has a 50-day simple moving average of $21.64 and a two-hundred day simple moving average of $22.33.

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

Kenvue Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th were issued a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a dividend yield of 3.50%. The ex-dividend date was Wednesday, February 12th. Kenvue’s payout ratio is presently 154.72%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on KVUE shares. Piper Sandler raised their target price on shares of Kenvue from $24.00 to $27.00 and gave the stock an “overweight” rating in a research report on Monday, February 24th. Citigroup decreased their price target on shares of Kenvue from $25.00 to $21.00 and set a “neutral” rating for the company in a research note on Wednesday, January 15th. Deutsche Bank Aktiengesellschaft lowered shares of Kenvue from a “buy” rating to a “hold” rating and decreased their price target for the stock from $25.00 to $24.00 in a research note on Thursday, December 12th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $24.00 price target on shares of Kenvue in a research note on Monday, February 3rd. Finally, Canaccord Genuity Group increased their price target on shares of Kenvue from $24.00 to $29.00 and gave the stock a “buy” rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $23.75.

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.