Sumitomo Mitsui Trust Holdings Inc. Grows Position in Kenvue Inc. (NYSE:KVUE)

Sumitomo Mitsui Trust Holdings Inc. lifted its stake in Kenvue Inc. (NYSE:KVUE) by 16.8% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,843,632 shares of the company’s stock after buying an additional 554,185 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Kenvue were worth $82,753,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of KVUE. Citigroup Inc. purchased a new position in shares of Kenvue in the second quarter worth $57,000. Osaic Holdings Inc. purchased a new stake in Kenvue during the second quarter valued at $144,000. Northern Trust Corp purchased a new stake in Kenvue during the second quarter valued at $1,244,000. PNC Financial Services Group Inc. purchased a new stake in Kenvue during the second quarter valued at $73,000. Finally, BlackRock Inc. purchased a new stake in Kenvue during the second quarter valued at $164,895,000. Hedge funds and other institutional investors own 97.64% of the company’s stock.

Kenvue Stock Up 0.8 %

NYSE KVUE opened at $19.27 on Thursday. The company’s 50-day moving average price is $19.83 and its 200-day moving average price is $20.17. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.78 and a current ratio of 1.12. Kenvue Inc. has a 12 month low of $17.82 and a 12 month high of $27.80.

Kenvue (NYSE:KVUE) last posted its quarterly earnings results on Thursday, February 8th. The company reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.03. Kenvue had a net margin of 9.87% and a return on equity of 15.62%. The firm had revenue of $3.67 billion for the quarter, compared to analysts’ expectations of $3.78 billion. The firm’s revenue was down 2.7% on a year-over-year basis. As a group, sell-side analysts expect that Kenvue Inc. will post 1.15 earnings per share for the current year.

Kenvue Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 28th. Shareholders of record on Wednesday, February 14th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 4.15%. The ex-dividend date was Tuesday, February 13th.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. William Blair assumed coverage on shares of Kenvue in a research note on Wednesday, April 3rd. They set a “market perform” rating on the stock. JPMorgan Chase & Co. decreased their price target on shares of Kenvue from $25.00 to $24.00 and set an “overweight” rating on the stock in a research note on Friday, February 9th. Sanford C. Bernstein initiated coverage on shares of Kenvue in a research report on Thursday, April 11th. They set an “underperform” rating and a $18.00 price objective on the stock. The Goldman Sachs Group initiated coverage on shares of Kenvue in a research report on Friday, March 1st. They set a “neutral” rating and a $20.00 price objective on the stock. Finally, Royal Bank of Canada cut their price objective on shares of Kenvue from $25.00 to $24.00 and set an “outperform” rating on the stock in a research report on Friday, February 9th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $24.85.

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.