MML Investors Services LLC Boosts Position in Kenvue Inc. (NYSE:KVUE)

MML Investors Services LLC increased its position in shares of Kenvue Inc. (NYSE:KVUE) by 3.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 179,130 shares of the company’s stock after acquiring an additional 5,714 shares during the quarter. MML Investors Services LLC’s holdings in Kenvue were worth $4,143,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of KVUE. FMR LLC boosted its holdings in Kenvue by 2.3% in the 3rd quarter. FMR LLC now owns 137,915,493 shares of the company’s stock valued at $3,189,985,000 after purchasing an additional 3,075,019 shares during the last quarter. State Street Corp raised its position in shares of Kenvue by 16.8% during the 3rd quarter. State Street Corp now owns 127,213,940 shares of the company’s stock valued at $2,942,458,000 after buying an additional 18,283,473 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in Kenvue by 8.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 86,979,341 shares of the company’s stock valued at $2,011,832,000 after acquiring an additional 7,115,374 shares during the last quarter. Bank of New York Mellon Corp grew its position in Kenvue by 21.0% in the second quarter. Bank of New York Mellon Corp now owns 43,444,085 shares of the company’s stock worth $789,813,000 after acquiring an additional 7,546,362 shares during the period. Finally, Harris Associates L P increased its stake in Kenvue by 7.5% during the third quarter. Harris Associates L P now owns 31,459,511 shares of the company’s stock worth $727,658,000 after acquiring an additional 2,186,114 shares during the last quarter. Hedge funds and other institutional investors own 97.64% of the company’s stock.

Kenvue Stock Performance

NYSE:KVUE opened at $22.21 on Friday. The company has a market cap of $42.58 billion, a price-to-earnings ratio of 40.38, a price-to-earnings-growth ratio of 2.02 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 Inc. has a 52 week low of $17.67 and a 52 week high of $24.46. The company has a fifty day simple moving average of $22.95 and a two-hundred day simple moving average of $21.17.

Kenvue (NYSE:KVUE) last released its earnings results on Thursday, November 7th. The company reported $0.28 EPS for the quarter, topping the consensus estimate of $0.27 by $0.01. The firm 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 revenue for the quarter was down .4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.31 EPS. As a group, equities analysts anticipate that Kenvue Inc. will post 1.07 earnings per share for the current fiscal year.

Kenvue Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th were issued a $0.205 dividend. The ex-dividend date of this dividend was Wednesday, November 13th. This represents a $0.82 annualized dividend and a yield of 3.69%. Kenvue’s dividend payout ratio (DPR) is 149.09%.

Wall Street Analysts Forecast Growth

KVUE has been the topic of several recent analyst reports. Royal Bank of Canada raised Kenvue from a “hold” rating to a “moderate buy” rating in a research note on Monday, December 9th. Bank of America upped their target price on shares of Kenvue from $24.00 to $27.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft cut shares of Kenvue from a “buy” rating to a “hold” rating and dropped their price target for the company from $25.00 to $24.00 in a research report on Thursday. JPMorgan Chase & Co. upped 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. Finally, Jefferies Financial Group assumed coverage on shares of Kenvue in a report on Tuesday, September 24th. They issued a “buy” rating and a $27.00 target price for the company. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock 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.