Avanza Fonder AB Invests $4.01 Million in Kenvue Inc. (NYSE:KVUE)

Avanza Fonder AB purchased a new stake in shares of Kenvue Inc. (NYSE:KVUE) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 187,780 shares of the company’s stock, valued at approximately $4,009,000.

Other institutional investors have also added to or reduced their stakes in the company. Riverview Trust Co purchased a new stake in shares of Kenvue during the 3rd quarter worth approximately $30,000. Fortitude Family Office LLC increased its position in Kenvue by 106.6% in the fourth quarter. Fortitude Family Office LLC now owns 1,506 shares of the company’s stock worth $32,000 after purchasing an additional 777 shares during the last quarter. Ashton Thomas Securities LLC purchased a new stake in Kenvue during the third quarter valued at $35,000. Versant Capital Management Inc lifted its position in Kenvue by 300.8% during the fourth quarter. Versant Capital Management Inc now owns 1,920 shares of the company’s stock valued at $41,000 after purchasing an additional 1,441 shares during the last quarter. Finally, Deseret Mutual Benefit Administrators grew its stake in shares of Kenvue by 49.7% in the 3rd quarter. Deseret Mutual Benefit Administrators now owns 1,960 shares of the company’s stock worth $45,000 after buying an additional 651 shares in the last quarter. Hedge funds and other institutional investors own 97.64% of the company’s stock.

Kenvue Stock Down 0.4 %

NYSE:KVUE opened at $21.11 on Friday. The stock has a fifty day simple moving average of $22.42 and a 200-day simple moving average of $21.66. The company has a current ratio of 1.00, a quick ratio of 0.69 and a debt-to-equity ratio of 0.66. The company has a market cap of $40.46 billion, a price-to-earnings ratio of 38.37, a price-to-earnings-growth ratio of 1.99 and a beta of 1.46. Kenvue Inc. has a twelve month low of $17.67 and a twelve month high of $24.46.

Kenvue (NYSE:KVUE) last announced its quarterly earnings data on Thursday, November 7th. The company reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.01. The company had revenue of $3.90 billion during the quarter, compared to analyst estimates of $3.92 billion. Kenvue had a net margin of 6.88% and a return on equity of 21.43%. The firm’s revenue for the quarter was down .4% on a year-over-year basis. During the same quarter last year, the business posted $0.31 EPS. Analysts anticipate that Kenvue Inc. will post 1.14 EPS for the current year.

Kenvue Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th will be paid a $0.205 dividend. The ex-dividend date is Wednesday, February 12th. This represents a $0.82 annualized dividend and a yield of 3.89%. Kenvue’s dividend payout ratio (DPR) is currently 149.09%.

Wall Street Analysts Forecast Growth

KVUE has been the topic of several recent research reports. Royal Bank of Canada upgraded shares of Kenvue from a “hold” rating to a “moderate buy” rating in a research report on Monday, December 9th. Jefferies Financial Group started coverage on Kenvue in a research report on Tuesday, September 24th. They set a “buy” rating and a $27.00 price objective on the stock. Citigroup lowered their price objective on Kenvue from $25.00 to $21.00 and set a “neutral” rating for the company in a research note on Wednesday. Barclays cut their target price on Kenvue from $23.00 to $21.00 and set an “equal weight” rating on the stock in a research report on Friday. Finally, Piper Sandler upgraded Kenvue from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $21.00 to $26.00 in a research report on Monday, January 6th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $23.08.

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.