Federated Hermes Inc. Buys 3,022,026 Shares of Kenvue Inc. (NYSE:KVUE)

Federated Hermes Inc. boosted its stake in shares of Kenvue Inc. (NYSE:KVUE) by 504.9% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,620,621 shares of the company’s stock after buying an additional 3,022,026 shares during the quarter. Federated Hermes Inc. owned approximately 0.19% of Kenvue worth $77,952,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. bought a new position in Kenvue during the third quarter valued at about $2,944,816,000. FMR LLC grew its position in Kenvue by 572.1% during the third quarter. FMR LLC now owns 89,182,980 shares of the company’s stock valued at $1,790,794,000 after buying an additional 75,913,107 shares during the period. Wellington Management Group LLP grew its position in Kenvue by 576.1% during the third quarter. Wellington Management Group LLP now owns 71,686,830 shares of the company’s stock valued at $1,439,472,000 after buying an additional 61,084,123 shares during the period. Massachusetts Financial Services Co. MA grew its position in Kenvue by 227.7% during the third quarter. Massachusetts Financial Services Co. MA now owns 61,091,189 shares of the company’s stock valued at $1,226,711,000 after buying an additional 42,449,470 shares during the period. Finally, Morgan Stanley grew its position in Kenvue by 4,057.4% during the third quarter. Morgan Stanley now owns 31,162,614 shares of the company’s stock valued at $625,745,000 after buying an additional 30,413,040 shares during the period. Institutional investors own 97.64% of the company’s stock.

Kenvue Price Performance

KVUE stock opened at $19.58 on Friday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.78 and a current ratio of 1.12. The company’s 50 day moving average is $19.83 and its 200 day moving average is $20.16. Kenvue Inc. has a 1-year low of $17.82 and a 1-year high of $27.80.

Kenvue (NYSE:KVUE) last posted its quarterly earnings data on Thursday, February 8th. The company reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.03. The company had revenue of $3.67 billion for the quarter, compared to analysts’ expectations of $3.78 billion. Kenvue had a net margin of 9.87% and a return on equity of 15.62%. Kenvue’s revenue for the quarter was down 2.7% on a year-over-year basis. Analysts expect that Kenvue Inc. will post 1.15 EPS for the current fiscal year.

Kenvue Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 28th. Investors of record on Wednesday, February 14th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 4.09%. The ex-dividend date was Tuesday, February 13th.

Wall Street Analyst Weigh In

Several equities research analysts have commented on KVUE shares. The Goldman Sachs Group started coverage on shares of Kenvue in a report on Friday, March 1st. They set a “neutral” rating and a $20.00 price objective on the stock. William Blair started coverage on shares of Kenvue in a report on Wednesday, April 3rd. They set a “market perform” rating on the stock. Sanford C. Bernstein started coverage on shares of Kenvue in a report on Thursday, April 11th. They set an “underperform” rating and a $18.00 price objective on the stock. JPMorgan Chase & Co. dropped their price objective on shares of Kenvue from $25.00 to $24.00 and set an “overweight” rating on the stock in a report on Friday, February 9th. Finally, Royal Bank of Canada dropped their price objective on shares of Kenvue from $25.00 to $24.00 and set an “outperform” rating on the stock in a report on Friday, February 9th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Kenvue has a consensus rating of “Hold” and a consensus target price of $24.85.

About Kenvue

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.