Van ECK Associates Corp Acquires 518,988 Shares of Kenvue Inc. (NYSE:KVUE)

Van ECK Associates Corp lifted its stake in Kenvue Inc. (NYSE:KVUE) by 2.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 20,069,238 shares of the company’s stock after acquiring an additional 518,988 shares during the period. Van ECK Associates Corp owned approximately 1.05% of Kenvue worth $428,478,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Huntington National Bank increased its stake in Kenvue by 26.5% during the third quarter. Huntington National Bank now owns 4,161 shares of the company’s stock valued at $96,000 after acquiring an additional 871 shares during the period. ING Groep NV grew its holdings in shares of Kenvue by 23.6% during the 3rd quarter. ING Groep NV now owns 3,576,616 shares of the company’s stock worth $82,727,000 after purchasing an additional 681,954 shares in the last quarter. Everence Capital Management Inc. increased its position in shares of Kenvue by 122.1% during the fourth quarter. Everence Capital Management Inc. now owns 45,380 shares of the company’s stock valued at $969,000 after purchasing an additional 24,950 shares during the period. Saturna Capital Corp raised its stake in shares of Kenvue by 29.9% in the third quarter. Saturna Capital Corp now owns 1,334,860 shares of the company’s stock valued at $30,875,000 after purchasing an additional 307,039 shares in the last quarter. Finally, Golden State Equity Partners lifted its position in Kenvue by 716.1% in the fourth quarter. Golden State Equity Partners now owns 25,658 shares of the company’s stock worth $548,000 after purchasing an additional 22,514 shares during the period. Institutional investors own 97.64% of the company’s stock.

Kenvue Price Performance

Kenvue stock opened at $20.96 on Thursday. The business’s fifty day moving average is $21.41 and its two-hundred day moving average is $22.03. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.69 and a current ratio of 1.00. The firm has a market cap of $40.19 billion, a P/E ratio of 39.55, a P/E/G ratio of 2.16 and a beta of 1.45. Kenvue Inc. has a 52 week low of $17.67 and a 52 week high of $24.46.

Kenvue (NYSE:KVUE) last issued its quarterly earnings results on Thursday, February 6th. The company reported $0.26 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.26. Kenvue had a net margin of 6.66% and a return on equity of 20.97%. Equities research analysts forecast that Kenvue Inc. will post 1.05 earnings per share for the current fiscal year.

Kenvue Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th will be issued a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a dividend yield of 3.91%. The ex-dividend date is Wednesday, February 12th. Kenvue’s dividend payout ratio is currently 154.72%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Bank of America boosted their price target on shares of Kenvue from $24.00 to $27.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Piper Sandler raised shares of Kenvue from a “neutral” rating to an “overweight” rating and upped their target price for the company from $21.00 to $26.00 in a research note on Monday, January 6th. Citigroup dropped their price target on shares of Kenvue from $25.00 to $21.00 and set a “neutral” rating for the company in a research report on Wednesday, January 15th. UBS Group decreased their price objective on Kenvue from $23.00 to $21.00 and set a “neutral” rating on the stock in a report on Friday, February 7th. Finally, Canaccord Genuity Group dropped their target price on Kenvue from $27.00 to $24.00 and set a “buy” rating for the company in a report on Friday, February 7th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $23.00.

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.