Sawgrass Asset Management LLC Buys Shares of 10,077 Kenvue Inc. (NYSE:KVUE)

Sawgrass Asset Management LLC purchased a new position in shares of Kenvue Inc. (NYSE:KVUE) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 10,077 shares of the company’s stock, valued at approximately $233,000.

A number of other large investors also recently modified their holdings of the company. Natixis Advisors LLC increased its holdings in Kenvue by 78.5% in the 3rd quarter. Natixis Advisors LLC now owns 1,772,963 shares of the company’s stock worth $41,008,000 after purchasing an additional 779,683 shares in the last quarter. Mizuho Markets Americas LLC grew its holdings in shares of Kenvue by 464.4% during the third quarter. Mizuho Markets Americas LLC now owns 1,810,403 shares of the company’s stock worth $41,875,000 after purchasing an additional 1,489,647 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund increased its stake in shares of Kenvue by 2.0% in the third quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 56,703 shares of the company’s stock valued at $1,312,000 after buying an additional 1,114 shares during the period. Kentucky Retirement Systems increased its stake in shares of Kenvue by 2.7% in the third quarter. Kentucky Retirement Systems now owns 133,421 shares of the company’s stock valued at $3,086,000 after buying an additional 3,548 shares during the period. Finally, Empowered Funds LLC raised its holdings in Kenvue by 16.0% in the 3rd quarter. Empowered Funds LLC now owns 149,371 shares of the company’s stock valued at $3,455,000 after buying an additional 20,593 shares during the last quarter. 97.64% of the stock is currently owned by institutional investors.

Kenvue Trading Up 0.9 %

Shares of KVUE stock opened at $23.82 on Monday. The company has a market cap of $45.67 billion, a P/E ratio of 43.31, a PEG ratio of 2.16 and a beta of 1.36. Kenvue Inc. has a fifty-two week low of $17.67 and a fifty-two week high of $24.13. The stock has a 50 day simple moving average of $22.77 and a two-hundred day simple moving average of $20.70. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.69 and a current ratio of 1.00.

Kenvue (NYSE:KVUE) last released its quarterly earnings data 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 analyst estimates of $3.92 billion. Kenvue had a net margin of 6.88% and a return on equity of 21.43%. Kenvue’s revenue for the quarter was down .4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.31 EPS. Research analysts forecast that Kenvue Inc. will post 1.07 earnings per share for the current year.

Kenvue Dividend Announcement

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 given a dividend of $0.205 per share. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 3.44%. Kenvue’s dividend payout ratio (DPR) is presently 149.09%.

Analyst Upgrades and Downgrades

KVUE has been the subject of several recent research reports. UBS Group upped their price target on shares of Kenvue from $20.00 to $22.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. JPMorgan Chase & Co. raised their target price on Kenvue from $24.00 to $25.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. Bank of America upped their price target on Kenvue from $24.00 to $27.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Piper Sandler increased their price target on Kenvue from $20.00 to $21.00 and gave the company a “neutral” rating in a research note on Monday, September 23rd. Finally, Royal Bank of Canada lowered Kenvue from an “outperform” rating to a “sector perform” rating and set a $24.00 price objective on the stock. in a research note on Tuesday, September 24th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $22.64.

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.