Sumitomo Mitsui Trust Holdings Inc. Has $82.75 Million Stock Holdings in Kenvue Inc. (NYSE:KVUE)

Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of Kenvue Inc. (NYSE:KVUE) by 16.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,843,632 shares of the company’s stock after purchasing an additional 554,185 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned 0.20% of Kenvue worth $82,753,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Empirical Finance LLC bought a new stake in shares of Kenvue during the 3rd quarter valued at $336,000. UniSuper Management Pty Ltd acquired a new position in shares of Kenvue during the 3rd quarter worth about $35,544,000. Howland Capital Management LLC acquired a new position in shares of Kenvue during the 3rd quarter worth about $7,764,000. Citizens Business Bank acquired a new position in shares of Kenvue during the 3rd quarter worth about $2,507,000. Finally, Fifth Third Bancorp raised its holdings in shares of Kenvue by 35.3% in the 4th quarter. Fifth Third Bancorp now owns 277,580 shares of the company’s stock valued at $5,976,000 after purchasing an additional 72,435 shares during the period. 97.64% of the stock is owned by institutional investors and hedge funds.

Kenvue Stock Up 0.8 %

Shares of KVUE stock opened at $19.27 on Thursday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.78 and a current ratio of 1.12. The firm’s 50 day moving average is $19.83 and its 200 day moving average is $20.17. Kenvue Inc. has a 12 month low of $17.82 and a 12 month high of $27.80.

Kenvue (NYSE:KVUE) last announced its quarterly earnings results on Thursday, February 8th. The company reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.03. The company had revenue of $3.67 billion for the quarter, compared to analysts’ expectations of $3.78 billion. Kenvue had a net margin of 9.87% and a return on equity of 15.62%. The firm’s revenue was down 2.7% compared to the same quarter last year. As a group, research analysts expect that Kenvue Inc. will post 1.15 earnings per share for the current fiscal year.

Kenvue Dividend Announcement

The firm also recently declared 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. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.15%. The ex-dividend date was Tuesday, February 13th.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on KVUE shares. JPMorgan Chase & Co. dropped their target price on shares of Kenvue from $25.00 to $24.00 and set an “overweight” rating on the stock in a report on Friday, February 9th. The Goldman Sachs Group initiated coverage on shares of Kenvue in a research report on Friday, March 1st. They set a “neutral” rating and a $20.00 target price on the stock. William Blair began coverage on shares of Kenvue in a research report on Wednesday, April 3rd. They set a “market perform” rating on the stock. Royal Bank of Canada cut their target price on shares of Kenvue from $25.00 to $24.00 and set an “outperform” rating on the stock in a research report on Friday, February 9th. Finally, Sanford C. Bernstein began coverage on shares of Kenvue in a research report on Thursday, April 11th. They issued an “underperform” rating and a $18.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $24.85.

About Kenvue

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.