Kenvue Inc. (NYSE:KVUE) Shares Bought by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS grew its stake in shares of Kenvue Inc. (NYSE:KVUE) by 5.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 86,720 shares of the company’s stock after purchasing an additional 4,385 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Kenvue were worth $1,851,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in KVUE. Grove Bank & Trust grew its position in shares of Kenvue by 438.4% during the fourth quarter. Grove Bank & Trust now owns 1,163 shares of the company’s stock worth $25,000 after acquiring an additional 947 shares during the last quarter. Geneos Wealth Management Inc. purchased a new position in shares of Kenvue during the fourth quarter worth approximately $29,000. Fortitude Family Office LLC grew its position in shares of Kenvue by 106.6% during the fourth quarter. Fortitude Family Office LLC now owns 1,506 shares of the company’s stock worth $32,000 after acquiring an additional 777 shares during the last quarter. Ashton Thomas Securities LLC purchased a new position in shares of Kenvue during the third quarter worth approximately $35,000. Finally, Versant Capital Management Inc grew its position in shares of Kenvue by 300.8% during the fourth quarter. Versant Capital Management Inc now owns 1,920 shares of the company’s stock worth $41,000 after acquiring an additional 1,441 shares during the last quarter. Institutional investors and hedge funds own 97.64% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft lowered shares of Kenvue from a “buy” rating to a “hold” rating and lowered their price objective for the company from $25.00 to $24.00 in a research report on Thursday, December 12th. Citigroup lowered their price objective on shares of Kenvue from $25.00 to $21.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 15th. UBS Group lowered their price objective on shares of Kenvue from $23.00 to $21.00 and set a “neutral” rating on the stock in a research report on Friday, February 7th. Barclays lowered their price objective on shares of Kenvue from $23.00 to $21.00 and set an “equal weight” rating on the stock in a research report on Friday, January 17th. Finally, Piper Sandler upgraded shares of Kenvue from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $21.00 to $26.00 in a research report on Monday, January 6th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $23.00.

Kenvue Trading Up 1.2 %

NYSE:KVUE opened at $22.26 on Thursday. The company has a market capitalization of $42.68 billion, a PE ratio of 42.00, a price-to-earnings-growth ratio of 2.57 and a beta of 1.45. The company has a quick ratio of 0.69, a current ratio of 1.00 and a debt-to-equity ratio of 0.66. Kenvue Inc. has a 52-week low of $17.67 and a 52-week high of $24.46. The stock has a fifty day simple moving average of $21.28 and a 200-day simple moving average of $22.14.

Kenvue (NYSE:KVUE) last released 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 return on equity of 20.97% and a net margin of 6.66%. On average, equities research analysts expect that Kenvue Inc. will post 1.14 earnings per share for the current fiscal year.

Kenvue Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th will be paid a $0.205 dividend. This represents a $0.82 annualized dividend and a yield of 3.68%. The ex-dividend date is Wednesday, February 12th. Kenvue’s payout ratio is 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.