Thrivent Financial for Lutherans Trims Stake in Kenvue Inc. (NYSE:KVUE)

Thrivent Financial for Lutherans trimmed its stake in Kenvue Inc. (NYSE:KVUE) by 3.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,058,733 shares of the company’s stock after selling 127,866 shares during the period. Thrivent Financial for Lutherans’ holdings in Kenvue were worth $86,654,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the business. FMR LLC increased its stake in Kenvue by 2.3% in the 3rd quarter. FMR LLC now owns 137,915,493 shares of the company’s stock worth $3,189,985,000 after buying an additional 3,075,019 shares in the last quarter. State Street Corp increased 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 worth $2,942,458,000 after purchasing an additional 18,283,473 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in Kenvue by 8.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 86,979,341 shares of the company’s stock worth $2,011,832,000 after purchasing an additional 7,115,374 shares during the last quarter. Geode Capital Management LLC increased its position in Kenvue by 0.9% in the third quarter. Geode Capital Management LLC now owns 44,677,077 shares of the company’s stock worth $1,029,810,000 after purchasing an additional 399,846 shares during the last quarter. Finally, Harris Associates L P increased its position in Kenvue by 7.5% during the third quarter. Harris Associates L P now owns 31,459,511 shares of the company’s stock valued at $727,658,000 after acquiring an additional 2,186,114 shares during the last quarter. Hedge funds and other institutional investors own 97.64% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Citigroup cut their price objective on shares of Kenvue from $25.00 to $21.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 15th. Barclays cut their price objective on shares of Kenvue from $23.00 to $21.00 and set an “equal weight” rating on the stock in a research report on Friday, January 17th. Piper Sandler upped their price target on shares of Kenvue from $24.00 to $27.00 and gave the stock an “overweight” rating in a report on Monday, February 24th. Canaccord Genuity Group upped their price target on shares of Kenvue from $24.00 to $29.00 and gave the stock a “buy” rating in a report on Wednesday, March 5th. Finally, Deutsche Bank Aktiengesellschaft cut shares of Kenvue from a “buy” rating to a “hold” rating and cut their price target for the stock from $25.00 to $24.00 in a report on Thursday, December 12th. One investment 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. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $23.75.

Kenvue Stock Down 0.3 %

NYSE:KVUE opened at $23.35 on Wednesday. Kenvue Inc. has a 1-year low of $17.67 and a 1-year high of $24.46. The company has a 50-day moving average of $21.94 and a 200 day moving average of $22.41. The firm has a market cap of $44.62 billion, a PE ratio of 44.05, a price-to-earnings-growth ratio of 2.62 and a beta of 1.25. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.00 and a quick ratio of 0.69.

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

Kenvue Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th were given a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a dividend yield of 3.51%. The ex-dividend date was Wednesday, February 12th. Kenvue’s payout ratio is 154.72%.

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.