Yacktman Asset Management LP Raises Stock Holdings in Kenvue Inc. (NYSE:KVUE)

Yacktman Asset Management LP raised its holdings in Kenvue Inc. (NYSE:KVUE) by 2.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,381,404 shares of the company’s stock after purchasing an additional 232,631 shares during the quarter. Kenvue accounts for 2.0% of Yacktman Asset Management LP’s investment portfolio, making the stock its 20th largest position. Yacktman Asset Management LP’s holdings in Kenvue were worth $193,862,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD lifted its position in shares of Kenvue by 23.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 134,565,333 shares of the company’s stock valued at $2,887,773,000 after buying an additional 25,238,112 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Kenvue by 12.0% in the first quarter. Vanguard Group Inc. now owns 166,789,085 shares of the company’s stock valued at $3,579,294,000 after purchasing an additional 17,908,497 shares during the period. Van ECK Associates Corp boosted its holdings in Kenvue by 110.9% in the 2nd quarter. Van ECK Associates Corp now owns 20,510,427 shares of the company’s stock worth $372,880,000 after buying an additional 10,783,258 shares during the period. Clearbridge Investments LLC boosted its holdings in shares of Kenvue by 16,051.1% in the first quarter. Clearbridge Investments LLC now owns 9,813,597 shares of the company’s stock worth $210,600,000 after acquiring an additional 9,752,836 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in Kenvue by 21.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 43,444,085 shares of the company’s stock worth $789,813,000 after purchasing an additional 7,546,362 shares in the last quarter. 97.64% of the stock is owned by hedge funds and other institutional investors.

Kenvue Stock Performance

NYSE:KVUE opened at $23.04 on Tuesday. The company has a quick ratio of 0.68, a current ratio of 0.99 and a debt-to-equity ratio of 0.69. The firm’s fifty day simple moving average is $22.55 and its 200 day simple moving average is $20.45. The stock has a market cap of $44.13 billion, a P/E ratio of 39.72, a price-to-earnings-growth ratio of 2.97 and a beta of 1.36. Kenvue Inc. has a twelve month low of $17.67 and a twelve month high of $23.55.

Kenvue (NYSE:KVUE) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.04. The business had revenue of $4 billion for the quarter, compared to analysts’ expectations of $3.93 billion. Kenvue had a return on equity of 21.80% and a net margin of 7.23%. The business’s revenue was down .3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.32 EPS. As a group, research analysts predict that Kenvue Inc. will post 1.08 EPS for the current year.

Kenvue Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th will be given a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a dividend yield of 3.56%. The ex-dividend date of this dividend is Wednesday, November 13th. Kenvue’s dividend payout ratio is presently 141.38%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on KVUE shares. Piper Sandler lifted their target price on Kenvue from $20.00 to $21.00 and gave the company a “neutral” rating in a report on Monday, September 23rd. Jefferies Financial Group assumed 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. 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 research note on Wednesday, August 7th. Citigroup reduced their price target on shares of Kenvue from $21.00 to $20.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. Finally, UBS Group increased their price objective on Kenvue from $20.00 to $22.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price 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.