Investment Management Corp of Ontario Increases Stock Position in Kenvue Inc. (NYSE:KVUE)

Investment Management Corp of Ontario grew its holdings in Kenvue Inc. (NYSE:KVUE) by 48.9% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 63,627 shares of the company’s stock after buying an additional 20,900 shares during the period. Investment Management Corp of Ontario’s holdings in Kenvue were worth $1,472,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Janus Henderson Group PLC increased its holdings in shares of Kenvue by 40.6% in the 3rd quarter. Janus Henderson Group PLC now owns 219,576 shares of the company’s stock valued at $5,080,000 after acquiring an additional 63,400 shares during the period. Harris Associates L P increased its holdings in shares of 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 in the last quarter. Hilltop Holdings Inc. raised its holdings in shares of Kenvue by 3.1% in the third quarter. Hilltop Holdings Inc. now owns 80,331 shares of the company’s stock worth $1,858,000 after buying an additional 2,434 shares during the last quarter. Holocene Advisors LP grew its stake in Kenvue by 75.5% during the 3rd quarter. Holocene Advisors LP now owns 13,886,454 shares of the company’s stock valued at $321,194,000 after purchasing an additional 5,975,392 shares during the last quarter. Finally, Benjamin Edwards Inc. purchased a new position in Kenvue during the 3rd quarter worth approximately $1,323,000. 97.64% of the stock is owned by institutional investors.

Kenvue Stock Performance

Shares of KVUE stock opened at $23.15 on Friday. Kenvue Inc. has a 52 week low of $17.67 and a 52 week high of $24.46. The firm has a 50 day moving average of $22.97 and a two-hundred day moving average of $21.07. The company has a quick ratio of 0.69, a current ratio of 1.00 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $44.37 billion, a PE ratio of 42.08, a P/E/G ratio of 2.13 and a beta of 1.36.

Kenvue (NYSE:KVUE) last released its earnings results on Thursday, November 7th. The company reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.01. The firm had revenue of $3.90 billion for the quarter, compared to analyst estimates of $3.92 billion. Kenvue had a net margin of 6.88% and a return on equity of 21.43%. The business’s quarterly revenue was down .4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.31 earnings per share. On average, research analysts predict that Kenvue Inc. will post 1.07 EPS for the current fiscal year.

Kenvue Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th were given a $0.205 dividend. The ex-dividend date was Wednesday, November 13th. This represents a $0.82 dividend on an annualized basis and a yield of 3.54%. Kenvue’s dividend payout ratio (DPR) is presently 149.09%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Bank of America upped their target price on Kenvue from $24.00 to $27.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Jefferies Financial Group assumed coverage on Kenvue in a report on Tuesday, September 24th. They set a “buy” rating and a $27.00 price target on the stock. Piper Sandler upped their price objective on Kenvue from $20.00 to $21.00 and gave the company a “neutral” rating in a report on Monday, September 23rd. JPMorgan Chase & Co. raised their target price on Kenvue from $24.00 to $25.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. Finally, 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 report on Tuesday, September 24th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $22.64.

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.