SVB Wealth LLC Makes New Investment in Kenvue Inc. (NYSE:KVUE)

SVB Wealth LLC acquired a new position in Kenvue Inc. (NYSE:KVUE) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 13,090 shares of the company’s stock, valued at approximately $282,000.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. acquired a new position in Kenvue in the third quarter worth $2,944,816,000. FMR LLC boosted its holdings in shares of Kenvue by 572.1% during the third quarter. FMR LLC now owns 89,182,980 shares of the company’s stock valued at $1,790,794,000 after acquiring an additional 75,913,107 shares during the period. Wellington Management Group LLP boosted its holdings in shares of Kenvue by 576.1% during the third quarter. Wellington Management Group LLP now owns 71,686,830 shares of the company’s stock valued at $1,439,472,000 after acquiring an additional 61,084,123 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in shares of Kenvue by 227.7% during the third quarter. Massachusetts Financial Services Co. MA now owns 61,091,189 shares of the company’s stock valued at $1,226,711,000 after acquiring an additional 42,449,470 shares during the period. Finally, Morgan Stanley boosted its holdings in shares of Kenvue by 4,057.4% during the third quarter. Morgan Stanley now owns 31,162,614 shares of the company’s stock valued at $625,745,000 after acquiring an additional 30,413,040 shares during the period. Institutional investors and hedge funds own 97.64% of the company’s stock.

Kenvue Trading Up 0.0 %

NYSE KVUE opened at $19.59 on Tuesday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.78 and a current ratio of 1.12. Kenvue Inc. has a 1 year low of $17.82 and a 1 year high of $27.80. The stock’s 50-day moving average price is $19.84 and its two-hundred day moving average price is $20.16.

Kenvue (NYSE:KVUE) last released its earnings results 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 company had revenue of $3.67 billion for the quarter, compared to analysts’ expectations of $3.78 billion. The business’s revenue for the quarter was down 2.7% on a year-over-year basis. As a group, equities research analysts expect that Kenvue Inc. will post 1.15 EPS for the current year.

Kenvue Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 28th. Shareholders 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 4.08%.

Wall Street Analyst Weigh In

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

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.