Victory Capital Management Inc. Raises Stake in Kenvue Inc. (NYSE:KVUE)

Victory Capital Management Inc. raised its stake in shares of Kenvue Inc. (NYSE:KVUE) by 66.2% in the third quarter, Holdings Channel reports. The institutional investor owned 1,328,074 shares of the company’s stock after buying an additional 528,849 shares during the quarter. Victory Capital Management Inc.’s holdings in Kenvue were worth $30,718,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Riverview Trust Co bought a new stake in Kenvue during the 3rd quarter worth approximately $30,000. Ashton Thomas Securities LLC purchased a new position in shares of Kenvue during the 3rd quarter valued at $35,000. Studio Investment Management LLC increased its holdings in shares of Kenvue by 52.1% in the second quarter. Studio Investment Management LLC now owns 2,468 shares of the company’s stock worth $45,000 after purchasing an additional 845 shares during the period. Deseret Mutual Benefit Administrators raised its position in shares of Kenvue by 49.7% in the third quarter. Deseret Mutual Benefit Administrators now owns 1,960 shares of the company’s stock worth $45,000 after buying an additional 651 shares in the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new stake in Kenvue during the second quarter valued at $61,000. 97.64% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft upped their target price on Kenvue from $23.00 to $24.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Jefferies Financial Group initiated coverage on shares of Kenvue in a research note on Tuesday, September 24th. They issued a “buy” rating and a $27.00 target price on the stock. Piper Sandler lifted their target price on shares of Kenvue from $20.00 to $21.00 and gave the company a “neutral” rating in a research report on Monday, September 23rd. Royal Bank of Canada lowered 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. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Kenvue from $24.00 to $25.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $22.64.

Kenvue Stock Performance

NYSE KVUE opened at $23.82 on Friday. The company has a 50-day simple moving average of $22.77 and a two-hundred day simple moving average of $20.69. Kenvue Inc. has a 12-month low of $17.67 and a 12-month high of $24.13. The firm has a market cap of $45.67 billion, a price-to-earnings ratio of 43.31, a PEG ratio of 2.10 and a beta of 1.36. 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 (NYSE:KVUE) last issued its earnings results on Thursday, November 7th. The company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.01. The company had revenue of $3.90 billion during the quarter, compared to analysts’ expectations of $3.92 billion. Kenvue had a return on equity of 21.43% and a net margin of 6.88%. Kenvue’s quarterly revenue was down .4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.31 EPS. On average, equities analysts forecast that Kenvue Inc. will post 1.07 EPS for the current year.

Kenvue Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th will be paid a $0.205 dividend. This represents a $0.82 annualized dividend and a dividend yield of 3.44%. The ex-dividend date of this dividend is Wednesday, November 13th. Kenvue’s payout ratio is 149.09%.

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.