Massachusetts Financial Services Co. MA Has $2.01 Billion Stake in Kenvue Inc. (NYSE:KVUE)

by · The Markets Daily

Massachusetts Financial Services Co. MA increased its stake in shares of Kenvue Inc. (NYSE:KVUE – Free Report) by 8.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 86,979,341 shares of the company’s stock after acquiring an additional 7,115,374 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 4.54% of Kenvue worth $2,011,832,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of KVUE. O Shaughnessy Asset Management LLC grew its stake in Kenvue by 34.3% in the first quarter. O Shaughnessy Asset Management LLC now owns 30,765 shares of the company’s stock valued at $660,000 after acquiring an additional 7,854 shares during the period. Axxcess Wealth Management LLC bought a new position in Kenvue in the 1st quarter valued at about $255,000. Advisors Asset Management Inc. acquired a new position in Kenvue during the 1st quarter valued at about $206,000. Capital International Inc. CA boosted its stake in Kenvue by 3.9% during the 1st quarter. Capital International Inc. CA now owns 213,858 shares of the company’s stock valued at $4,589,000 after purchasing an additional 8,101 shares during the last quarter. Finally, Guardian Capital LP grew its holdings in Kenvue by 21.5% during the first quarter. Guardian Capital LP now owns 543,073 shares of the company’s stock worth $11,654,000 after buying an additional 95,927 shares in the last quarter. 97.64% of the stock is currently owned by institutional investors and hedge funds.

Kenvue Stock Up 0.4 %

Kenvue stock opened at $23.78 on Thursday. The firm has a market capitalization of $45.59 billion, a price-to-earnings ratio of 43.24, a P/E/G ratio of 2.15 and a beta of 1.36. Kenvue Inc. has a 1-year low of $17.67 and a 1-year high of $24.13. The company has a current ratio of 1.00, a quick ratio of 0.69 and a debt-to-equity ratio of 0.66. The firm has a 50 day simple moving average of $22.81 and a 200 day simple moving average of $20.80.

Kenvue (NYSE:KVUE – Get Free Report) last released its quarterly earnings results on Thursday, November 7th. The company reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.01. Kenvue had a net margin of 6.88% and a return on equity of 21.43%. The firm had revenue of $3.90 billion for the quarter, compared to analysts’ expectations of $3.92 billion. During the same quarter in the prior year, the firm posted $0.31 earnings per share. The business’s quarterly revenue was down .4% on a year-over-year basis. On average, analysts predict that Kenvue Inc. will post 1.07 earnings per share for the current year.

Kenvue Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th will be given a $0.205 dividend. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $0.82 annualized dividend and a yield of 3.45%. Kenvue’s dividend payout ratio (DPR) is presently 149.09%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on KVUE shares. Piper Sandler increased their price objective on shares of Kenvue from $20.00 to $21.00 and gave the company a “neutral” rating in a research note on Monday, September 23rd. UBS Group increased their price target on shares of Kenvue from $20.00 to $22.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Jefferies Financial Group initiated coverage on shares of Kenvue in a research report on Tuesday, September 24th. They issued a “buy” rating and a $27.00 price objective on the stock. Royal Bank of Canada downgraded shares of Kenvue from an “outperform” rating to a “sector perform” rating and set a $24.00 target price for the company. in a research report on Tuesday, September 24th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of Kenvue from $23.00 to $24.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $22.64.

Get Our Latest Stock Analysis on Kenvue

About Kenvue

(Free Report)

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.

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