Geode Capital Management LLC Buys 1,391,854 Shares of Kenvue Inc. (NYSE:KVUE)

Geode Capital Management LLC boosted its stake in Kenvue Inc. (NYSE:KVUE) by 3.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 46,068,931 shares of the company’s stock after purchasing an additional 1,391,854 shares during the quarter. Geode Capital Management LLC owned approximately 2.40% of Kenvue worth $980,989,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Grove Bank & Trust increased its holdings in shares of Kenvue by 438.4% in the fourth quarter. Grove Bank & Trust now owns 1,163 shares of the company’s stock worth $25,000 after purchasing an additional 947 shares during the period. Geneos Wealth Management Inc. bought a new position in Kenvue in the 4th quarter worth about $29,000. SRS Capital Advisors Inc. increased its stake in Kenvue by 67.4% in the 4th quarter. SRS Capital Advisors Inc. now owns 1,418 shares of the company’s stock worth $30,000 after acquiring an additional 571 shares during the last quarter. Fortitude Family Office LLC raised its holdings in shares of Kenvue by 106.6% in the 4th quarter. Fortitude Family Office LLC now owns 1,506 shares of the company’s stock valued at $32,000 after acquiring an additional 777 shares in the last quarter. Finally, Versant Capital Management Inc boosted its position in shares of Kenvue by 300.8% during the 4th quarter. Versant Capital Management Inc now owns 1,920 shares of the company’s stock valued at $41,000 after acquiring an additional 1,441 shares during the last quarter. Hedge funds and other institutional investors own 97.64% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Barclays upped their price objective on shares of Kenvue from $21.00 to $23.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 27th. Canaccord Genuity Group raised their price objective on shares of Kenvue from $24.00 to $29.00 and gave the company a “buy” rating in a research report on Wednesday, March 5th. Deutsche Bank Aktiengesellschaft lowered shares of Kenvue from a “buy” rating to a “hold” rating and cut their target price for the stock from $25.00 to $24.00 in a research report on Thursday, December 12th. UBS Group lowered their price target on Kenvue from $23.00 to $21.00 and set a “neutral” rating on the stock in a research report on Friday, February 7th. Finally, Citigroup cut their price objective on Kenvue from $25.00 to $21.00 and set a “neutral” rating for the company in a report on Wednesday, January 15th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $24.00.

Kenvue Stock Performance

NYSE:KVUE opened at $23.87 on Thursday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.69 and a current ratio of 1.00. Kenvue Inc. has a fifty-two week low of $17.67 and a fifty-two week high of $24.46. The business has a 50 day moving average price of $22.50 and a 200-day moving average price of $22.47. The firm has a market cap of $45.62 billion, a PE ratio of 45.04, a price-to-earnings-growth ratio of 2.62 and a beta of 1.25.

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

Kenvue Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th were given a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a yield of 3.44%. The ex-dividend date was Wednesday, February 12th. Kenvue’s payout ratio is 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.