Resona Asset Management Co. Ltd. Invests $13.60 Million in Kenvue Inc. (NYSE:KVUE)

Resona Asset Management Co. Ltd. acquired a new stake in shares of Kenvue Inc. (NYSE:KVUE) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 635,773 shares of the company’s stock, valued at approximately $13,601,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of KVUE. Norges Bank bought a new position in shares of Kenvue during the 4th quarter valued at $521,348,000. Franklin Resources Inc. lifted its position in shares of Kenvue by 61.5% in the fourth quarter. Franklin Resources Inc. now owns 42,719,377 shares of the company’s stock worth $912,059,000 after buying an additional 16,269,721 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of Kenvue by 12.3% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 97,661,344 shares of the company’s stock worth $2,085,070,000 after acquiring an additional 10,682,003 shares in the last quarter. Boston Partners increased its holdings in shares of Kenvue by 36.9% during the 4th quarter. Boston Partners now owns 23,595,963 shares of the company’s stock valued at $503,145,000 after acquiring an additional 6,366,097 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of Kenvue in the 4th quarter valued at approximately $98,926,000. Hedge funds and other institutional investors own 97.64% of the company’s stock.

Kenvue Stock Performance

Shares of NYSE KVUE opened at $22.33 on Monday. The firm has a market capitalization of $42.68 billion, a price-to-earnings ratio of 42.14, a PEG ratio of 2.62 and a beta of 1.25. Kenvue Inc. has a one year low of $17.67 and a one year high of $24.46. The business has a fifty day simple moving average of $22.59 and a 200 day simple moving average of $22.46. The company has a current ratio of 1.00, a quick ratio of 0.69 and a debt-to-equity ratio of 0.66.

Kenvue (NYSE:KVUE) last announced its quarterly earnings data on Thursday, February 6th. The company reported $0.26 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.26. Kenvue had a net margin of 6.66% and a return on equity of 20.97%. Sell-side analysts expect that Kenvue Inc. will post 1.14 EPS for the current year.

Kenvue Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th were paid a $0.205 dividend. The ex-dividend date was Wednesday, February 12th. This represents a $0.82 annualized dividend and a dividend yield of 3.67%. Kenvue’s dividend payout ratio is currently 154.72%.

Analyst Upgrades and Downgrades

Several brokerages have commented on KVUE. Piper Sandler increased their price target on Kenvue from $24.00 to $27.00 and gave the company an “overweight” rating in a report on Monday, February 24th. Deutsche Bank Aktiengesellschaft lowered shares of Kenvue from a “buy” rating to a “hold” rating and lowered their target price for the company from $25.00 to $24.00 in a research note on Thursday, December 12th. Citigroup cut their target price on shares of Kenvue from $25.00 to $21.00 and set a “neutral” rating for the company in a research report on Wednesday, January 15th. UBS Group lowered their price target on Kenvue from $23.00 to $21.00 and set a “neutral” rating on the stock in a research report on Friday, February 7th. Finally, Evercore ISI began coverage on Kenvue in a research report on Monday, March 24th. They set an “in-line” rating and a $25.00 price objective for the company. One analyst has rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $24.00.

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.