Desjardins Global Asset Management Inc. Invests $283,000 in Kenvue Inc. (NYSE:KVUE)

Desjardins Global Asset Management Inc. acquired a new position in shares of Kenvue Inc. (NYSE:KVUE) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 13,155 shares of the company’s stock, valued at approximately $283,000.

Several other large investors also recently made changes to their positions in the stock. Pinnacle Bancorp Inc. increased its position in shares of Kenvue by 51.3% during the fourth quarter. Pinnacle Bancorp Inc. now owns 1,552 shares of the company’s stock worth $33,000 after acquiring an additional 526 shares in the last quarter. Dfpg Investments LLC boosted its holdings in Kenvue by 2.3% during the fourth quarter. Dfpg Investments LLC now owns 26,659 shares of the company’s stock worth $567,000 after purchasing an additional 589 shares during the last quarter. Mutual Advisors LLC boosted its holdings in Kenvue by 6.1% during the fourth quarter. Mutual Advisors LLC now owns 10,606 shares of the company’s stock worth $228,000 after purchasing an additional 612 shares during the last quarter. Baron Wealth Management LLC boosted its holdings in Kenvue by 7.5% during the fourth quarter. Baron Wealth Management LLC now owns 12,915 shares of the company’s stock worth $278,000 after purchasing an additional 899 shares during the last quarter. Finally, Arete Wealth Advisors LLC boosted its holdings in Kenvue by 5.7% during the third quarter. Arete Wealth Advisors LLC now owns 18,835 shares of the company’s stock worth $378,000 after purchasing an additional 1,016 shares during the last quarter. Institutional investors own 97.64% of the company’s stock.

Wall Street Analyst Weigh In

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

Kenvue Stock Performance

NYSE KVUE opened at $19.58 on Friday. The firm has a 50-day moving average of $19.83 and a 200-day moving average of $20.16. 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 52-week low of $17.82 and a 52-week high of $27.80.

Kenvue (NYSE:KVUE) last released 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 business had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.78 billion. Kenvue’s quarterly revenue was down 2.7% on a year-over-year basis. On average, research analysts forecast that Kenvue Inc. will post 1.15 earnings per share for the current fiscal year.

Kenvue Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 28th. Investors of record on Wednesday, February 14th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 4.09%. The ex-dividend date of this dividend was Tuesday, February 13th.

About Kenvue

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.