Kenvue Inc. (NYSE:KVUE) Position Boosted by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lifted its stake in Kenvue Inc. (NYSE:KVUE) by 22.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,186,599 shares of the company’s stock after purchasing an additional 759,799 shares during the quarter. Thrivent Financial for Lutherans owned 0.22% of Kenvue worth $96,836,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in the stock. Price T Rowe Associates Inc. MD increased its position in Kenvue by 23.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 134,565,333 shares of the company’s stock worth $2,887,773,000 after purchasing an additional 25,238,112 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Kenvue by 9.6% in the second quarter. Massachusetts Financial Services Co. MA now owns 79,863,967 shares of the company’s stock worth $1,451,927,000 after buying an additional 7,023,047 shares during the last quarter. Bank of New York Mellon Corp raised its position in Kenvue by 21.0% during the second quarter. Bank of New York Mellon Corp now owns 43,444,085 shares of the company’s stock valued at $789,813,000 after acquiring an additional 7,546,362 shares in the last quarter. American Century Companies Inc. lifted its stake in Kenvue by 20.7% in the second quarter. American Century Companies Inc. now owns 27,382,644 shares of the company’s stock valued at $497,816,000 after acquiring an additional 4,700,697 shares during the last quarter. Finally, Van ECK Associates Corp grew its position in Kenvue by 110.9% in the second quarter. Van ECK Associates Corp now owns 20,510,427 shares of the company’s stock worth $372,880,000 after acquiring an additional 10,783,258 shares in the last quarter. 97.64% of the stock is currently owned by institutional investors and hedge funds.

Kenvue Price Performance

NYSE:KVUE opened at $23.82 on Monday. 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 50-day moving average of $22.77 and a 200-day moving average of $20.70. Kenvue Inc. has a 52 week low of $17.67 and a 52 week high of $24.13. The company has a market capitalization of $45.67 billion, a price-to-earnings ratio of 43.31, a PEG ratio of 2.16 and a beta of 1.36.

Kenvue (NYSE:KVUE) last released its quarterly earnings data on Thursday, November 7th. The company reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.01. Kenvue had a return on equity of 21.43% and a net margin of 6.88%. The company had revenue of $3.90 billion for the quarter, compared to the consensus estimate of $3.92 billion. During the same period in the previous year, the business earned $0.31 earnings per share. The company’s quarterly revenue was down .4% on a year-over-year basis. As a group, equities research analysts anticipate that Kenvue Inc. will post 1.07 earnings per share for the current fiscal year.

Kenvue Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th will be paid a dividend of $0.205 per share. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $0.82 annualized dividend and a yield of 3.44%. Kenvue’s dividend payout ratio is currently 149.09%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on KVUE shares. Royal Bank of Canada lowered shares of Kenvue from an “outperform” rating to a “sector perform” rating and set a $24.00 price objective for the company. in a research note on Tuesday, September 24th. UBS Group increased their price objective on Kenvue from $20.00 to $22.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. JPMorgan Chase & Co. boosted their target price on Kenvue from $24.00 to $25.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. Jefferies Financial Group started coverage on shares of Kenvue in a research report on Tuesday, September 24th. They issued a “buy” rating and a $27.00 price target on the stock. Finally, Piper Sandler lifted their target price on shares of Kenvue from $20.00 to $21.00 and gave the stock a “neutral” rating in a report on Monday, September 23rd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Kenvue has an average rating of “Hold” and a consensus price target of $22.64.

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.