Korea Investment CORP Reduces Position in Kenvue Inc. (NYSE:KVUE)

Korea Investment CORP cut its stake in Kenvue Inc. (NYSE:KVUE) by 17.1% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 841,598 shares of the company’s stock after selling 173,031 shares during the quarter. Korea Investment CORP’s holdings in Kenvue were worth $17,968,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Grove Bank & Trust increased its holdings in shares of Kenvue by 438.4% in the 4th quarter. Grove Bank & Trust now owns 1,163 shares of the company’s stock worth $25,000 after buying an additional 947 shares during the last quarter. Geneos Wealth Management Inc. bought a new position in shares of Kenvue during the fourth quarter valued at about $29,000. SRS Capital Advisors Inc. lifted its holdings in Kenvue by 67.4% in the 4th quarter. SRS Capital Advisors Inc. now owns 1,418 shares of the company’s stock worth $30,000 after buying an additional 571 shares during the period. Fortitude Family Office LLC boosted its holdings in Kenvue by 106.6% in the fourth quarter. Fortitude Family Office LLC now owns 1,506 shares of the company’s stock valued at $32,000 after acquiring an additional 777 shares in the last quarter. Finally, Versant Capital Management Inc increased 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 valued at $41,000 after buying an additional 1,441 shares during the period. Hedge funds and other institutional investors own 97.64% of the company’s stock.

Analysts Set New Price Targets

KVUE has been the topic of several research reports. UBS Group dropped their price target on Kenvue from $23.00 to $21.00 and set a “neutral” rating on the stock in a research report on Friday, February 7th. Piper Sandler increased their price target on shares of Kenvue from $24.00 to $27.00 and gave the stock an “overweight” rating in a research note on Monday, February 24th. Canaccord Genuity Group lifted their price target on shares of Kenvue from $24.00 to $29.00 and gave the company a “buy” rating in a research report on Wednesday, March 5th. Royal Bank of Canada restated a “sector perform” rating and issued a $24.00 price objective on shares of Kenvue in a report on Monday, February 3rd. 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 research analyst has rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Kenvue currently has an average rating of “Hold” and an average target price of $24.00.

Kenvue Trading Up 1.0 %

Shares of NYSE:KVUE opened at $23.74 on Friday. Kenvue Inc. has a 1 year low of $17.67 and a 1 year high of $24.46. The stock’s fifty day moving average price is $22.32 and its 200-day moving average price is $22.45. The company has a market cap of $45.36 billion, a P/E ratio of 44.78, a PEG ratio of 2.62 and a beta of 1.25. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.00 and a quick ratio of 0.69.

Kenvue (NYSE:KVUE) last announced its quarterly earnings results on Thursday, February 6th. The company reported $0.26 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.26. Kenvue had a net margin of 6.66% and a return on equity of 20.97%. Sell-side analysts expect that Kenvue Inc. will post 1.14 earnings per share for the current year.

Kenvue Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th were paid a dividend of $0.205 per share. The ex-dividend date of this dividend was Wednesday, February 12th. This represents a $0.82 dividend on an annualized basis and a yield of 3.45%. Kenvue’s dividend payout ratio is presently 154.72%.

Kenvue Company 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.