Federated Hermes Inc. grew its holdings in Kenvue Inc. (NYSE:KVUE – Free Report) by 504.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,620,621 shares of the company’s stock after purchasing an additional 3,022,026 shares during the period. Federated Hermes Inc. owned about 0.19% of Kenvue worth $77,952,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Clearstead Advisors LLC acquired a new position in Kenvue during the third quarter worth $25,000. Planned Solutions Inc. acquired a new stake in Kenvue during the fourth quarter worth approximately $27,000. AdvisorNet Financial Inc acquired a new position in Kenvue in the 3rd quarter valued at $28,000. Global Retirement Partners LLC acquired a new position in Kenvue in the 3rd quarter valued at $28,000. Finally, Venturi Wealth Management LLC acquired a new position in Kenvue in the 3rd quarter valued at $28,000. 97.64% of the stock is currently owned by institutional investors and hedge funds.
Kenvue Stock Down 0.2 %
Shares of KVUE traded down $0.04 during mid-day trading on Friday, reaching $19.54. 2,688,340 shares of the company were exchanged, compared to its average volume of 16,518,449. Kenvue Inc. has a 52 week low of $17.82 and a 52 week high of $27.80. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.12 and a quick ratio of 0.78. The business has a 50 day simple moving average of $19.83 and a two-hundred day simple moving average of $20.16.
Kenvue (NYSE:KVUE – Get Free Report) last issued its quarterly earnings data on Thursday, February 8th. The company reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.03. Kenvue had a return on equity of 15.62% and a net margin of 9.87%. The company had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.78 billion. The firm’s revenue for the quarter was down 2.7% compared to the same quarter last year. As a group, research analysts forecast that Kenvue Inc. will post 1.15 earnings per share for the current fiscal year.
Kenvue Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 28th. Investors of record on Wednesday, February 14th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Tuesday, February 13th. This represents a $0.80 annualized dividend and a yield of 4.09%.
Analyst Ratings Changes
Several research firms have recently issued reports on KVUE. William Blair began coverage on Kenvue in a report on Wednesday, April 3rd. They set a “market perform” rating on the stock. The Goldman Sachs Group began coverage on Kenvue in a research note on Friday, March 1st. They issued a “neutral” rating and a $20.00 price objective on the stock. JPMorgan Chase & Co. reduced their price objective on Kenvue from $25.00 to $24.00 and set an “overweight” rating on the stock in a research note on Friday, February 9th. Sanford C. Bernstein began coverage on Kenvue in a research note on Thursday, April 11th. They issued an “underperform” rating and a $18.00 price objective on the stock. Finally, Royal Bank of Canada reduced their price objective on Kenvue from $25.00 to $24.00 and set an “outperform” rating on the stock in a research note on Friday, February 9th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $24.85.
Check Out Our Latest Stock Analysis on KVUE
Kenvue Profile
(Free Report)
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.
Recommended Stories
Before you consider Kenvue, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Kenvue wasn’t on the list.
While Kenvue currently has a “Hold” rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
MarketBeat’s analysts have just released their top five short plays for April 2024. Learn which stocks have the most short interest and how to trade them. Click the link below to see which companies made the list.
Get This Free Report