Genesis Private Wealth LLC Takes Position in Kenvue Inc. (NYSE:KVUE)

Genesis Private Wealth LLC acquired a new stake in Kenvue Inc. (NYSE:KVUE) in the 4th quarter, Holdings Channel reports. The firm acquired 11,746 shares of the company’s stock, valued at approximately $251,000.

Several other hedge funds also recently modified their holdings of KVUE. State Street Corp raised its stake in shares of Kenvue by 16.8% in the third quarter. State Street Corp now owns 127,213,940 shares of the company’s stock valued at $2,942,458,000 after purchasing an additional 18,283,473 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Kenvue by 8.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 86,979,341 shares of the company’s stock valued at $2,011,832,000 after purchasing an additional 7,115,374 shares in the last quarter. Holocene Advisors LP raised its stake in shares of Kenvue by 75.5% in the third quarter. Holocene Advisors LP now owns 13,886,454 shares of the company’s stock valued at $321,194,000 after purchasing an additional 5,975,392 shares in the last quarter. M&G PLC raised its stake in shares of Kenvue by 538.0% in the third quarter. M&G PLC now owns 4,341,172 shares of the company’s stock valued at $99,847,000 after purchasing an additional 3,660,730 shares in the last quarter. Finally, FMR LLC raised its stake in shares of Kenvue by 2.3% in the third quarter. FMR LLC now owns 137,915,493 shares of the company’s stock valued at $3,189,985,000 after purchasing an additional 3,075,019 shares in the last quarter. 97.64% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Citigroup cut their target price on Kenvue from $25.00 to $21.00 and set a “neutral” rating for the company in a research note on Wednesday, January 15th. JPMorgan Chase & Co. upped their target price on Kenvue from $24.00 to $25.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. Bank of America upped their target price on Kenvue from $24.00 to $27.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Jefferies Financial Group initiated coverage on Kenvue in a research note on Tuesday, September 24th. They set a “buy” rating and a $27.00 price objective for the company. Finally, Barclays dropped their price objective on Kenvue from $23.00 to $21.00 and set an “equal weight” rating for the company in a research note on Friday, January 17th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Kenvue currently has a consensus rating of “Hold” and an average price target of $23.08.

Kenvue Stock Performance

Shares of NYSE:KVUE opened at $20.80 on Wednesday. Kenvue Inc. has a twelve month low of $17.67 and a twelve month high of $24.46. The firm has a market cap of $39.87 billion, a PE ratio of 37.81, a price-to-earnings-growth ratio of 2.03 and a beta of 1.46. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.69 and a current ratio of 1.00. The business has a fifty day moving average of $22.36 and a 200-day moving average of $21.73.

Kenvue (NYSE:KVUE) last announced its earnings results 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. Kenvue had a return on equity of 21.43% and a net margin of 6.88%. The company had revenue of $3.90 billion during the quarter, compared to analyst estimates of $3.92 billion. During the same period last year, the company posted $0.31 earnings per share. The firm’s quarterly revenue was down .4% compared to the same quarter last year. On average, equities research analysts predict that Kenvue Inc. will post 1.14 EPS for the current fiscal year.

Kenvue Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th will be issued a $0.205 dividend. This represents a $0.82 annualized dividend and a yield of 3.94%. The ex-dividend date of this dividend is Wednesday, February 12th. Kenvue’s dividend payout ratio is 149.09%.

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.