Federated Hermes Inc. Increases Stock Holdings in Kenvue Inc. (NYSE:KVUE)

Federated Hermes Inc. boosted its stake in Kenvue Inc. (NYSE:KVUE) by 11.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,420,638 shares of the company’s stock after acquiring an additional 876,624 shares during the period. Federated Hermes Inc. owned 0.44% of Kenvue worth $179,781,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Waterloo Capital L.P. purchased a new position in shares of Kenvue during the fourth quarter valued at about $288,000. Envestnet Asset Management Inc. boosted its position in Kenvue by 79.4% during the 4th quarter. Envestnet Asset Management Inc. now owns 10,224,056 shares of the company’s stock valued at $218,284,000 after acquiring an additional 4,523,918 shares in the last quarter. Aviva PLC grew its holdings in shares of Kenvue by 1,159.8% during the 4th quarter. Aviva PLC now owns 1,154,701 shares of the company’s stock worth $24,653,000 after acquiring an additional 1,063,043 shares during the period. Resona Asset Management Co. Ltd. bought a new position in shares of Kenvue in the 4th quarter worth approximately $13,601,000. Finally, Prudential PLC lifted its stake in shares of Kenvue by 1,699.1% in the 4th quarter. Prudential PLC now owns 574,143 shares of the company’s stock valued at $12,258,000 after purchasing an additional 542,231 shares during the period. 97.64% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Canaccord Genuity Group increased their price objective on Kenvue from $24.00 to $29.00 and gave the stock a “buy” rating in a report on Wednesday, March 5th. UBS Group decreased their price target on shares of Kenvue from $23.00 to $21.00 and set a “neutral” rating for the company in a research note on Friday, February 7th. Barclays boosted their price objective on shares of Kenvue from $21.00 to $23.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 27th. Piper Sandler raised their target price on shares of Kenvue from $24.00 to $27.00 and gave the company an “overweight” rating in a research note on Monday, February 24th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Kenvue from a “buy” rating to a “hold” rating and lowered their target price for the company from $25.00 to $24.00 in a report on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Kenvue has an average rating of “Hold” and a consensus price target of $24.00.

Kenvue Stock Performance

KVUE stock opened at $22.33 on Friday. The stock’s 50 day simple moving average is $22.59 and its 200 day simple moving average is $22.46. 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 Inc. has a 12-month low of $17.67 and a 12-month high of $24.46. The stock has a market capitalization of $42.68 billion, a PE ratio of 42.14, a price-to-earnings-growth ratio of 2.62 and a beta of 1.25.

Kenvue (NYSE:KVUE) last posted its quarterly earnings results on Thursday, February 6th. The company reported $0.26 earnings per share for the quarter, hitting the consensus estimate of $0.26. Kenvue had a return on equity of 20.97% and a net margin of 6.66%. As a group, research analysts forecast that Kenvue Inc. will post 1.14 earnings per share for the current fiscal year.

Kenvue Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th were issued a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a dividend yield of 3.67%. The ex-dividend date was Wednesday, February 12th. Kenvue’s payout ratio is presently 154.72%.

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.