Zurcher Kantonalbank Zurich Cantonalbank Purchases 156,678 Shares of Kenvue Inc. (NYSE:KVUE)

Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Kenvue Inc. (NYSE:KVUE) by 27.9% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 717,414 shares of the company’s stock after acquiring an additional 156,678 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Kenvue were worth $15,446,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. bought a new stake in shares of Kenvue in the 3rd quarter valued at about $2,944,816,000. FMR LLC grew its position in shares of Kenvue by 572.1% in the 3rd quarter. FMR LLC now owns 89,182,980 shares of the company’s stock valued at $1,790,794,000 after buying an additional 75,913,107 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of Kenvue by 576.1% in the 3rd quarter. Wellington Management Group LLP now owns 71,686,830 shares of the company’s stock valued at $1,439,472,000 after purchasing an additional 61,084,123 shares during the period. Massachusetts Financial Services Co. MA raised its stake in Kenvue by 227.7% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 61,091,189 shares of the company’s stock worth $1,226,711,000 after buying an additional 42,449,470 shares during the period. Finally, Morgan Stanley raised its stake in Kenvue by 4,057.4% during the 3rd quarter. Morgan Stanley now owns 31,162,614 shares of the company’s stock worth $625,745,000 after buying an additional 30,413,040 shares during the period. Institutional investors own 97.64% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. The Goldman Sachs Group assumed coverage on Kenvue in a research note on Friday, March 1st. They set a “neutral” rating and a $20.00 price target on the stock. Royal Bank of Canada dropped their price target on Kenvue from $25.00 to $24.00 and set an “outperform” rating on the stock in a research note on Friday, February 9th. William Blair assumed coverage on Kenvue in a research note on Wednesday, April 3rd. They set a “market perform” rating on the stock. Sanford C. Bernstein began coverage on Kenvue in a research note on Thursday, April 11th. They set an “underperform” rating and a $18.00 price target on the stock. Finally, JPMorgan Chase & Co. decreased their price objective on Kenvue from $25.00 to $24.00 and set an “overweight” rating for the company in a report on Friday, February 9th. One 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. Based on data from MarketBeat.com, Kenvue currently has an average rating of “Hold” and an average price target of $24.85.

Kenvue Stock Up 1.6 %

Shares of NYSE KVUE opened at $19.58 on Friday. The stock has a fifty day simple moving average of $19.83 and a two-hundred day simple moving average of $20.16. Kenvue Inc. has a 1-year low of $17.82 and a 1-year 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.

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

Kenvue Announces Dividend

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

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.