Sumitomo Mitsui DS Asset Management Company Ltd Acquires 27,330 Shares of Kenvue Inc. (NYSE:KVUE)

Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in shares of Kenvue Inc. (NYSE:KVUE) by 20.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 164,176 shares of the company’s stock after purchasing an additional 27,330 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Kenvue were worth $3,535,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in KVUE. Empirical Finance LLC purchased a new position in Kenvue during the 3rd quarter worth $336,000. UniSuper Management Pty Ltd bought a new position in shares of Kenvue during the 3rd quarter worth approximately $35,544,000. Howland Capital Management LLC purchased a new position in shares of Kenvue in the 3rd quarter worth approximately $7,764,000. Citizens Business Bank bought a new position in shares of Kenvue in the third quarter valued at approximately $2,507,000. Finally, Fifth Third Bancorp increased its position in shares of Kenvue by 35.3% during the fourth quarter. Fifth Third Bancorp now owns 277,580 shares of the company’s stock valued at $5,976,000 after acquiring an additional 72,435 shares during the last quarter. Institutional investors and hedge funds own 97.64% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Kenvue Stock Up 0.0 %

Shares of NYSE:KVUE opened at $19.59 on Tuesday. The company has a current ratio of 1.12, a quick ratio of 0.78 and a debt-to-equity ratio of 0.69. The firm has a fifty day moving average of $19.84 and a 200 day moving average of $20.16. Kenvue Inc. has a 52-week low of $17.82 and a 52-week high of $27.80.

Kenvue (NYSE:KVUE) last issued 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 business 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. Sell-side analysts forecast that Kenvue Inc. will post 1.15 EPS for the current fiscal year.

Kenvue Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 28th. Shareholders of record on Wednesday, February 14th were given 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 4.08%.

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.