Desjardins Global Asset Management Inc. Invests $283,000 in Kenvue Inc. (NYSE:KVUE)

Desjardins Global Asset Management Inc. purchased a new position in shares of Kenvue Inc. (NYSE:KVUE) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 13,155 shares of the company’s stock, valued at approximately $283,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in KVUE. Empirical Finance LLC purchased a new stake in shares of Kenvue during the 3rd quarter worth approximately $336,000. UniSuper Management Pty Ltd purchased a new stake in Kenvue during the 3rd quarter worth $35,544,000. Howland Capital Management LLC purchased a new stake in Kenvue during the 3rd quarter worth $7,764,000. Citizens Business Bank purchased a new position in Kenvue in the 3rd quarter valued at about $2,507,000. Finally, Fifth Third Bancorp boosted its position in 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 buying an additional 72,435 shares during the last quarter. Hedge funds and other institutional investors own 97.64% of the company’s stock.

Wall Street Analyst Weigh In

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

Kenvue Trading Up 1.6 %

KVUE opened at $19.58 on Friday. Kenvue Inc. has a fifty-two week low of $17.82 and a fifty-two week high of $27.80. The company’s 50-day moving average price is $19.83 and its 200 day moving average price is $20.16. The company has a current ratio of 1.12, a quick ratio of 0.78 and a debt-to-equity ratio of 0.69.

Kenvue (NYSE:KVUE) last released its quarterly earnings data on Thursday, February 8th. The company reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.03. The firm had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.78 billion. Kenvue had a net margin of 9.87% and a return on equity of 15.62%. The company’s revenue for the quarter was down 2.7% on a year-over-year basis. Equities research analysts predict that Kenvue Inc. will post 1.15 EPS for the current fiscal year.

Kenvue Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 28th. Shareholders of record on Wednesday, February 14th were paid a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, February 13th. This represents a $0.80 annualized dividend and a dividend yield of 4.09%.

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.