Sumitomo Mitsui DS Asset Management Company Ltd Buys 27,330 Shares of Kenvue Inc. (NYSE:KVUE)

Sumitomo Mitsui DS Asset Management Company Ltd increased its position in Kenvue Inc. (NYSE:KVUE) by 20.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 164,176 shares of the company’s stock after purchasing an additional 27,330 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Kenvue were worth $3,535,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of KVUE. Vanguard Group Inc. purchased a new stake in shares of Kenvue in the 3rd quarter worth approximately $2,944,816,000. FMR LLC lifted its holdings in Kenvue by 572.1% during the third quarter. FMR LLC now owns 89,182,980 shares of the company’s stock worth $1,790,794,000 after buying an additional 75,913,107 shares during the period. Wellington Management Group LLP boosted its position in Kenvue by 576.1% during the 3rd quarter. Wellington Management Group LLP now owns 71,686,830 shares of the company’s stock valued at $1,439,472,000 after acquiring an additional 61,084,123 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Kenvue by 227.7% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 61,091,189 shares of the company’s stock valued at $1,226,711,000 after acquiring an additional 42,449,470 shares during the period. Finally, Morgan Stanley raised its position in shares of Kenvue by 4,057.4% in the 3rd quarter. Morgan Stanley now owns 31,162,614 shares of the company’s stock worth $625,745,000 after acquiring an additional 30,413,040 shares in the last quarter. 97.64% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Kenvue Stock Performance

Shares of KVUE opened at $19.59 on Tuesday. The company has a quick ratio of 0.78, a current ratio of 1.12 and a debt-to-equity ratio of 0.69. The stock has a 50-day moving average of $19.84 and a two-hundred day moving average of $20.16. Kenvue Inc. has a one year low of $17.82 and a one year high of $27.80.

Kenvue (NYSE:KVUE) last released its 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 return on equity of 15.62% and a net margin of 9.87%. The firm had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.78 billion. The company’s revenue for the quarter was down 2.7% compared to the same quarter last year. On average, research analysts forecast that Kenvue Inc. will post 1.15 earnings per share for the current fiscal year.

Kenvue Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 28th. Stockholders of record on Wednesday, February 14th were paid a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, February 13th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.08%.

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.