Kenvue Inc. (NYSE:KVUE) is Equity Investment Corp’s 5th Largest Position

Equity Investment Corp increased its stake in shares of Kenvue Inc. (NYSE:KVUE) by 0.0% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 6,570,542 shares of the company’s stock after purchasing an additional 977 shares during the period. Kenvue makes up approximately 3.5% of Equity Investment Corp’s investment portfolio, making the stock its 5th largest position. Equity Investment Corp’s holdings in Kenvue were worth $151,977,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Riverview Trust Co purchased a new position in shares of Kenvue during the 3rd quarter worth approximately $30,000. Ashton Thomas Securities LLC acquired a new stake in Kenvue during the 3rd quarter worth approximately $35,000. Studio Investment Management LLC lifted its holdings in Kenvue by 52.1% during the 2nd quarter. Studio Investment Management LLC now owns 2,468 shares of the company’s stock worth $45,000 after buying an additional 845 shares in the last quarter. Deseret Mutual Benefit Administrators lifted its holdings in Kenvue by 49.7% during the 3rd quarter. Deseret Mutual Benefit Administrators now owns 1,960 shares of the company’s stock worth $45,000 after buying an additional 651 shares in the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in Kenvue during the 2nd quarter worth approximately $61,000. Hedge funds and other institutional investors own 97.64% of the company’s stock.

Kenvue Price Performance

Shares of KVUE opened at $23.82 on Monday. Kenvue Inc. has a twelve month low of $17.67 and a twelve month high of $24.13. The firm’s fifty day simple moving average is $22.77 and its 200-day simple moving average is $20.70. The firm has a market capitalization of $45.67 billion, a price-to-earnings ratio of 43.31, a PEG ratio of 2.16 and a beta of 1.36. The company has a current ratio of 1.00, a quick ratio of 0.69 and a debt-to-equity ratio of 0.66.

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

Kenvue Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th will be paid a dividend of $0.205 per share. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $0.82 annualized dividend and a yield of 3.44%. Kenvue’s dividend payout ratio is currently 149.09%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on KVUE. UBS Group increased their target price on shares of Kenvue from $20.00 to $22.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Jefferies Financial Group began coverage on shares of Kenvue in a report on Tuesday, September 24th. They set a “buy” rating and a $27.00 target price on the stock. JPMorgan Chase & Co. increased their target price on shares of Kenvue from $24.00 to $25.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Kenvue from $23.00 to $24.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. Finally, Bank of America raised their price objective on shares of Kenvue from $24.00 to $27.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Kenvue currently has a consensus rating of “Hold” and an average price target of $22.64.

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.