Deseret Mutual Benefit Administrators Boosts Stock Holdings in Kenvue Inc. (NYSE:KVUE)

Deseret Mutual Benefit Administrators grew its position in shares of Kenvue Inc. (NYSE:KVUE) by 49.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,960 shares of the company’s stock after acquiring an additional 651 shares during the quarter. Deseret Mutual Benefit Administrators’ holdings in Kenvue were worth $45,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of KVUE. Price T Rowe Associates Inc. MD boosted its holdings in 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 worth $2,887,773,000 after acquiring an additional 25,238,112 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Kenvue by 12.0% in the 1st quarter. Vanguard Group Inc. now owns 166,789,085 shares of the company’s stock worth $3,579,294,000 after buying an additional 17,908,497 shares during the last quarter. Van ECK Associates Corp boosted its holdings in shares of 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 last quarter. Clearbridge Investments LLC boosted its holdings in shares of Kenvue by 16,051.1% in the 1st quarter. Clearbridge Investments LLC now owns 9,813,597 shares of the company’s stock worth $210,600,000 after buying an additional 9,752,836 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Kenvue by 21.0% in 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 buying an additional 7,546,362 shares during the last quarter. 97.64% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on KVUE. Piper Sandler boosted their price target on shares of Kenvue from $20.00 to $21.00 and gave the stock a “neutral” rating in a report on Monday, September 23rd. Jefferies Financial Group began coverage on shares of Kenvue in a report on Tuesday, September 24th. They issued a “buy” rating and a $27.00 price target on the stock. Royal Bank of Canada downgraded shares of Kenvue from an “outperform” rating to a “sector perform” rating and set a $24.00 price target on the stock. in a report on Tuesday, September 24th. UBS Group boosted their price target on shares of Kenvue from $20.00 to $22.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of Kenvue from $23.00 to $24.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $22.64.

Kenvue Stock Up 2.1 %

Shares of NYSE KVUE opened at $22.97 on Friday. The stock has a market capitalization of $43.99 billion, a P/E ratio of 39.60, a PEG ratio of 3.01 and a beta of 1.36. Kenvue Inc. has a one year low of $17.67 and a one year high of $23.57. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.99 and a quick ratio of 0.68. The firm’s 50 day simple moving average is $22.61 and its two-hundred day simple moving average is $20.50.

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

Kenvue Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th will be paid a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a dividend yield of 3.57%. The ex-dividend date of this dividend is Wednesday, November 13th. Kenvue’s dividend payout ratio (DPR) is presently 141.38%.

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.