C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Takes Position in Kenvue Inc. (NYSE:KVUE)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new stake in Kenvue Inc. (NYSE:KVUE) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 6,017 shares of the company’s stock, valued at approximately $128,000.

A number of other large investors also recently modified their holdings of the company. FMR LLC lifted its stake in shares of Kenvue by 2.3% in the 3rd quarter. FMR LLC now owns 137,915,493 shares of the company’s stock valued at $3,189,985,000 after acquiring an additional 3,075,019 shares during the last quarter. State Street Corp grew its stake in shares of Kenvue by 16.8% in the 3rd quarter. State Street Corp now owns 127,213,940 shares of the company’s stock valued at $2,942,458,000 after buying an additional 18,283,473 shares during the period. Massachusetts Financial Services Co. MA grew its stake in shares of Kenvue by 8.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 86,979,341 shares of the company’s stock valued at $2,011,832,000 after buying an additional 7,115,374 shares during the period. Geode Capital Management LLC grew its stake in shares of Kenvue by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 44,677,077 shares of the company’s stock valued at $1,029,810,000 after buying an additional 399,846 shares during the period. Finally, Harris Associates L P grew its stake in shares of Kenvue by 7.5% in the 3rd quarter. Harris Associates L P now owns 31,459,511 shares of the company’s stock valued at $727,658,000 after buying an additional 2,186,114 shares during the period. 97.64% of the stock is currently owned by institutional investors.

Kenvue Price Performance

Kenvue stock opened at $22.38 on Friday. Kenvue Inc. has a 52 week low of $17.67 and a 52 week high of $24.46. The company’s 50 day moving average price is $21.29 and its two-hundred day moving average price is $22.14. The company has a quick ratio of 0.69, a current ratio of 1.00 and a debt-to-equity ratio of 0.66. The stock has a market cap of $42.90 billion, a P/E ratio of 42.22, a P/E/G ratio of 2.57 and a beta of 1.45.

Kenvue (NYSE:KVUE) last posted its earnings results on Thursday, February 6th. The company reported $0.26 EPS for the quarter, hitting the consensus estimate of $0.26. Kenvue had a net margin of 6.66% and a return on equity of 20.97%. On average, equities analysts predict that Kenvue Inc. will post 1.14 earnings per share for the current year.

Kenvue Dividend Announcement

The business 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. The ex-dividend date is Wednesday, February 12th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 3.66%. Kenvue’s dividend payout ratio (DPR) is presently 154.72%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on KVUE. UBS Group reduced their target price on Kenvue from $23.00 to $21.00 and set a “neutral” rating for the company in a research note on Friday, February 7th. Canaccord Genuity Group cut their price target on Kenvue from $27.00 to $24.00 and set a “buy” rating for the company in a research note on Friday, February 7th. Royal Bank of Canada reiterated a “sector perform” rating and set a $24.00 price target on shares of Kenvue in a research note on Monday, February 3rd. Citigroup cut their price target on Kenvue from $25.00 to $21.00 and set a “neutral” rating for the company in a research note on Wednesday, January 15th. Finally, Piper Sandler upgraded Kenvue from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $21.00 to $26.00 in a research note on Monday, January 6th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $23.00.

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.