Everence Capital Management Inc. Has $969,000 Stock Position in Kenvue Inc. (NYSE:KVUE)

Everence Capital Management Inc. grew its position in shares of Kenvue Inc. (NYSE:KVUE) by 122.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 45,380 shares of the company’s stock after buying an additional 24,950 shares during the quarter. Everence Capital Management Inc.’s holdings in Kenvue were worth $969,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in KVUE. State Street Corp raised 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 acquiring an additional 18,283,473 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in Kenvue by 8.9% during 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 during the last quarter. Holocene Advisors LP raised its position 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 during the period. American Century Companies Inc. boosted its holdings in shares of Kenvue by 20.7% during the 2nd quarter. American Century Companies Inc. now owns 27,382,644 shares of the company’s stock worth $497,816,000 after buying an additional 4,700,697 shares during the period. Finally, M&G PLC grew its stake in Kenvue by 538.0% in the 3rd quarter. M&G PLC now owns 4,341,172 shares of the company’s stock valued at $99,847,000 after buying an additional 3,660,730 shares during the last quarter. 97.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Royal Bank of Canada upgraded shares of Kenvue from a “hold” rating to a “moderate buy” rating in a report on Monday, December 9th. Piper Sandler increased their target price on Kenvue from $20.00 to $21.00 and gave the company a “neutral” rating in a research note on Monday, September 23rd. JPMorgan Chase & Co. lifted their price target on Kenvue from $24.00 to $25.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. Barclays raised Kenvue to a “hold” rating in a research report on Thursday, December 12th. Finally, Jefferies Financial Group initiated coverage on shares of Kenvue in a research report on Tuesday, September 24th. They set a “buy” rating and a $27.00 target price on the stock. One analyst has rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $22.64.

Kenvue Stock Performance

NYSE KVUE opened at $21.20 on Friday. The stock has a market cap of $40.65 billion, a P/E ratio of 38.55, a PEG ratio of 2.02 and a beta of 1.46. The company has a quick ratio of 0.69, a current ratio of 1.00 and a debt-to-equity ratio of 0.66. Kenvue Inc. has a twelve month low of $17.67 and a twelve month high of $24.46. The company’s 50-day simple moving average is $22.81 and its 200 day simple moving average is $21.49.

Kenvue (NYSE:KVUE) last issued its earnings results on Thursday, November 7th. The company reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.01. The business had revenue of $3.90 billion during the quarter, compared to analysts’ expectations of $3.92 billion. Kenvue had a return on equity of 21.43% and a net margin of 6.88%. Kenvue’s quarterly revenue was down .4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.31 EPS. As a group, research analysts forecast that Kenvue Inc. will post 1.07 earnings per share for the current fiscal year.

Kenvue Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th were paid a $0.205 dividend. The ex-dividend date of this dividend was Wednesday, November 13th. This represents a $0.82 annualized dividend and a dividend yield of 3.87%. Kenvue’s dividend payout ratio is presently 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.