Federated Hermes Inc. Purchases 876,624 Shares of Kenvue Inc. (NYSE:KVUE)

Federated Hermes Inc. raised its position in Kenvue Inc. (NYSE:KVUE) by 11.6% during the fourth quarter, Holdings Channel reports. The fund owned 8,420,638 shares of the company’s stock after acquiring an additional 876,624 shares during the period. Federated Hermes Inc.’s holdings in Kenvue were worth $179,781,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Handelsbanken Fonder AB increased its stake in shares of Kenvue by 2.9% in the 4th quarter. Handelsbanken Fonder AB now owns 742,184 shares of the company’s stock worth $15,846,000 after purchasing an additional 21,222 shares in the last quarter. Alberta Investment Management Corp grew its holdings in Kenvue by 23.2% during the fourth quarter. Alberta Investment Management Corp now owns 582,895 shares of the company’s stock valued at $12,445,000 after purchasing an additional 109,700 shares during the period. Longbow Finance SA increased its position in Kenvue by 5.0% in the fourth quarter. Longbow Finance SA now owns 280,568 shares of the company’s stock worth $5,990,000 after buying an additional 13,287 shares in the last quarter. Steward Partners Investment Advisory LLC raised its stake in shares of Kenvue by 143.1% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 47,938 shares of the company’s stock worth $1,023,000 after buying an additional 28,216 shares during the period. Finally, CORDA Investment Management LLC. lifted its position in shares of Kenvue by 1.4% during the 4th quarter. CORDA Investment Management LLC. now owns 1,253,096 shares of the company’s stock valued at $26,754,000 after buying an additional 17,466 shares in the last quarter. 97.64% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on KVUE. UBS Group reduced their price objective on shares of Kenvue from $23.00 to $21.00 and set a “neutral” rating for the company in a research note on Friday, February 7th. 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. Canaccord Genuity Group raised their price target on Kenvue from $24.00 to $29.00 and gave the company a “buy” rating in a report on Wednesday, March 5th. Deutsche Bank Aktiengesellschaft lowered Kenvue from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $25.00 to $24.00 in a research note on Thursday, December 12th. Finally, Piper Sandler boosted their price target on Kenvue from $24.00 to $27.00 and gave the stock an “overweight” rating in a report on Monday, February 24th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $24.00.

Kenvue Stock Down 5.5 %

NYSE KVUE opened at $22.33 on Friday. The stock has a 50 day moving average price of $22.59 and a 200-day moving average price of $22.46. Kenvue Inc. has a one year low of $17.67 and a one year high of $24.46. 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 company has a market capitalization of $42.68 billion, a P/E ratio of 42.14, a P/E/G ratio of 2.62 and a beta of 1.25.

Kenvue (NYSE:KVUE) last released its quarterly earnings data on Thursday, February 6th. The company reported $0.26 EPS for the quarter, meeting the consensus estimate of $0.26. Kenvue had a net margin of 6.66% and a return on equity of 20.97%. As a group, equities analysts predict that Kenvue Inc. will post 1.14 EPS for the current fiscal year.

Kenvue Dividend Announcement

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

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.