Metis Global Partners LLC Purchases 13,877 Shares of Kenvue Inc. (NYSE:KVUE)

Metis Global Partners LLC increased its position in Kenvue Inc. (NYSE:KVUE) by 23.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 73,488 shares of the company’s stock after purchasing an additional 13,877 shares during the period. Metis Global Partners LLC’s holdings in Kenvue were worth $1,582,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. Vanguard Group Inc. acquired a new position in shares of Kenvue during the third quarter valued at about $2,944,816,000. FMR LLC increased its holdings in Kenvue by 572.1% during the 3rd quarter. FMR LLC now owns 89,182,980 shares of the company’s stock worth $1,790,794,000 after purchasing an additional 75,913,107 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of Kenvue by 576.1% in the third quarter. Wellington Management Group LLP now owns 71,686,830 shares of the company’s stock worth $1,439,472,000 after purchasing an additional 61,084,123 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of 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 last quarter. Finally, Morgan Stanley grew its holdings in Kenvue by 4,057.4% during the third quarter. Morgan Stanley now owns 31,162,614 shares of the company’s stock worth $625,745,000 after buying an additional 30,413,040 shares in the last quarter. Institutional investors and hedge funds own 97.64% of the company’s stock.

Kenvue Price Performance

Kenvue stock opened at $20.03 on Wednesday. The business has a 50-day simple moving average of $19.85 and a two-hundred day simple moving average of $20.11. Kenvue Inc. has a 52-week low of $17.82 and a 52-week high of $27.80. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.78 and a current ratio of 1.12.

Kenvue (NYSE:KVUE) last announced its earnings results on Tuesday, May 7th. The company reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.03. The business had revenue of $2.89 billion during the quarter, compared to analysts’ expectations of $3.79 billion. Kenvue had a net margin of 9.87% and a return on equity of 15.62%. The firm’s quarterly revenue was down 24.9% on a year-over-year basis. On average, sell-side analysts predict that Kenvue Inc. will post 1.15 earnings per share for the current year.

Kenvue Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Wednesday, May 8th will be given a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, May 7th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.99%.

Analysts Set New Price Targets

Several brokerages have recently commented on KVUE. JPMorgan Chase & Co. lowered their target price on shares of Kenvue from $25.00 to $24.00 and set an “overweight” rating for the company in a report on Friday, February 9th. Sanford C. Bernstein began coverage on Kenvue in a research note on Thursday, April 11th. They issued an “underperform” rating and a $18.00 target price on the stock. Royal Bank of Canada decreased their price target on Kenvue from $25.00 to $24.00 and set an “outperform” rating for the company in a research report on Friday, February 9th. William Blair initiated coverage on Kenvue in a research report on Wednesday, April 3rd. They issued a “market perform” rating on the stock. Finally, The Goldman Sachs Group assumed coverage on shares of Kenvue in a research report on Friday, March 1st. They set a “neutral” rating and a $20.00 price target for the company. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $24.85.

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.