Horizon Kinetics Asset Management LLC Acquires Shares of 18,262 Kenvue Inc. (NYSE:KVUE)

Horizon Kinetics Asset Management LLC acquired a new position in Kenvue Inc. (NYSE:KVUE) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 18,262 shares of the company’s stock, valued at approximately $422,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Massachusetts Financial Services Co. MA increased its position in Kenvue by 8.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 86,979,341 shares of the company’s stock valued at $2,011,832,000 after buying an additional 7,115,374 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Kenvue by 21.0% during the second quarter. Bank of New York Mellon Corp now owns 43,444,085 shares of the company’s stock valued at $789,813,000 after acquiring an additional 7,546,362 shares in the last quarter. American Century Companies Inc. raised its position in shares of Kenvue by 20.7% in the 2nd quarter. American Century Companies Inc. now owns 27,382,644 shares of the company’s stock worth $497,816,000 after purchasing an additional 4,700,697 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Kenvue by 2.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 24,411,207 shares of the company’s stock worth $564,689,000 after purchasing an additional 547,874 shares during the last quarter. Finally, Van ECK Associates Corp boosted its stake in Kenvue by 110.9% in the 2nd quarter. Van ECK Associates Corp now owns 20,510,427 shares of the company’s stock worth $372,880,000 after purchasing an additional 10,783,258 shares in the last quarter. 97.64% of the stock is owned by hedge funds and other institutional investors.

Kenvue Trading Up 0.7 %

NYSE:KVUE opened at $24.25 on Tuesday. The firm has a market capitalization of $46.49 billion, a price-to-earnings ratio of 44.09, a price-to-earnings-growth ratio of 2.19 and a beta of 1.36. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.00 and a quick ratio of 0.69. The business has a fifty day moving average price of $22.86 and a 200-day moving average price of $20.89. Kenvue Inc. has a one year low of $17.67 and a one year high of $24.40.

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

Kenvue Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th will be given a $0.205 dividend. The ex-dividend date is Wednesday, November 13th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 3.38%. Kenvue’s payout ratio is currently 149.09%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on KVUE. UBS Group lifted their target price on shares of Kenvue from $20.00 to $22.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Jefferies Financial Group began coverage on shares of Kenvue in a report on Tuesday, September 24th. They issued a “buy” rating and a $27.00 price objective for the company. Royal Bank of Canada downgraded Kenvue from an “outperform” rating to a “sector perform” rating and set a $24.00 target price on the stock. in a research note on Tuesday, September 24th. Bank of America lifted their target price on Kenvue from $24.00 to $27.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Finally, Deutsche Bank Aktiengesellschaft upped their price target on Kenvue from $23.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $22.64.

Kenvue 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.