Massachusetts Financial Services Co. MA Raises Position in Kenvue Inc. (NYSE:KVUE)

Massachusetts Financial Services Co. MA increased its stake in shares of Kenvue Inc. (NYSE:KVUE) by 8.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 86,979,341 shares of the company’s stock after acquiring an additional 7,115,374 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Kenvue were worth $2,011,832,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Leo Wealth LLC increased its position in shares of Kenvue by 0.3% during the third quarter. Leo Wealth LLC now owns 151,611 shares of the company’s stock valued at $3,507,000 after buying an additional 481 shares during the period. Massmutual Trust Co. FSB ADV grew its holdings in shares of Kenvue by 6.2% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 8,400 shares of the company’s stock worth $194,000 after acquiring an additional 492 shares during the period. Wolff Wiese Magana LLC raised its position in shares of Kenvue by 0.7% in the 3rd quarter. Wolff Wiese Magana LLC now owns 76,999 shares of the company’s stock worth $1,781,000 after acquiring an additional 501 shares in the last quarter. Marathon Capital Management lifted its stake in shares of Kenvue by 0.3% in the 2nd quarter. Marathon Capital Management now owns 149,699 shares of the company’s stock valued at $2,722,000 after purchasing an additional 514 shares during the period. Finally, Poehling Capital Management INC. boosted its position in shares of Kenvue by 0.5% during the second quarter. Poehling Capital Management INC. now owns 104,934 shares of the company’s stock valued at $1,908,000 after purchasing an additional 547 shares in the last quarter. 97.64% of the stock is owned by hedge funds and other institutional investors.

Kenvue Price Performance

KVUE opened at $23.78 on Thursday. The company’s 50-day simple moving average is $22.81 and its two-hundred day simple moving average is $20.80. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.69 and a current ratio of 1.00. The stock has a market capitalization of $45.59 billion, a P/E ratio of 43.24, a P/E/G ratio of 2.15 and a beta of 1.36. Kenvue Inc. has a 52-week low of $17.67 and a 52-week high of $24.13.

Kenvue (NYSE:KVUE) last posted its quarterly earnings data on Thursday, November 7th. The company reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.01. Kenvue had a return on equity of 21.43% and a net margin of 6.88%. The company had revenue of $3.90 billion during the quarter, compared to analysts’ expectations of $3.92 billion. During the same quarter in the prior year, the business earned $0.31 earnings per share. Kenvue’s revenue for the quarter was down .4% compared to the same quarter last year. As a group, analysts predict that Kenvue Inc. will post 1.07 EPS for the current year.

Kenvue Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th will be issued a $0.205 dividend. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $0.82 dividend on an annualized basis and a yield of 3.45%. Kenvue’s dividend payout ratio is currently 149.09%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Bank of America raised their price objective 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 boosted their price objective on shares of Kenvue from $20.00 to $21.00 and gave the stock a “neutral” rating in a research note 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 target price for the company. in a report on Tuesday, September 24th. Deutsche Bank Aktiengesellschaft boosted their price target on Kenvue from $23.00 to $24.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. raised their price objective on Kenvue from $24.00 to $25.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average 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.