HighTower Advisors LLC Purchases 1,169,283 Shares of Kenvue Inc. $KVUE

HighTower Advisors LLC raised its position in shares of Kenvue Inc. (NYSE:KVUE) by 21.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,659,603 shares of the company’s stock after acquiring an additional 1,169,283 shares during the period. HighTower Advisors LLC’s holdings in Kenvue were worth $108,085,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Aberdeen Group plc raised its stake in Kenvue by 84.1% during the third quarter. Aberdeen Group plc now owns 1,411,380 shares of the company’s stock valued at $22,914,000 after purchasing an additional 644,930 shares in the last quarter. Vista Capital Partners Inc. bought a new stake in shares of Kenvue in the 3rd quarter worth about $164,000. WJ Financial Advisors LLC purchased a new stake in shares of Kenvue during the 3rd quarter valued at about $349,000. Public Sector Pension Investment Board lifted its holdings in shares of Kenvue by 14.0% in the 3rd quarter. Public Sector Pension Investment Board now owns 165,905 shares of the company’s stock valued at $2,693,000 after acquiring an additional 20,370 shares during the last quarter. Finally, Varma Mutual Pension Insurance Co grew its position in Kenvue by 8.8% in the third quarter. Varma Mutual Pension Insurance Co now owns 423,166 shares of the company’s stock worth $6,868,000 after acquiring an additional 34,200 shares in the last quarter. 97.64% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on KVUE. Johnson Rice reaffirmed a “neutral” rating on shares of Kenvue in a research note on Tuesday, October 28th. Jefferies Financial Group downgraded Kenvue from a “buy” rating to a “hold” rating and lowered their price target for the stock from $23.00 to $18.00 in a research report on Friday, January 30th. Barclays lifted their price objective on shares of Kenvue from $17.00 to $18.00 and gave the stock an “equal weight” rating in a research note on Monday, November 10th. Canaccord Genuity Group reissued a “hold” rating and issued a $15.00 target price (down previously from $26.00) on shares of Kenvue in a research note on Wednesday, October 29th. Finally, Edward Jones cut shares of Kenvue from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 3rd. Four equities research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $19.46.

Insider Transactions at Kenvue

In related news, Director Jeffrey C. Smith bought 3,200,000 shares of Kenvue stock in a transaction dated Friday, December 12th. The shares were acquired at an average cost of $17.37 per share, with a total value of $55,584,000.00. Following the completion of the transaction, the director owned 27,307,632 shares in the company, valued at $474,333,567.84. The trade was a 13.27% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.17% of the stock is currently owned by company insiders.

Kenvue Stock Up 0.8%

NYSE:KVUE opened at $18.70 on Monday. The company has a market cap of $35.82 billion, a price-to-earnings ratio of 24.93 and a beta of 0.59. Kenvue Inc. has a twelve month low of $14.02 and a twelve month high of $25.17. The company has a current ratio of 0.98, a quick ratio of 0.69 and a debt-to-equity ratio of 0.66. The stock has a fifty day simple moving average of $17.38 and a 200-day simple moving average of $17.70.

Kenvue Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 25th. Investors of record on Wednesday, February 11th will be issued a dividend of $0.2075 per share. The ex-dividend date is Wednesday, February 11th. This represents a $0.83 dividend on an annualized basis and a yield of 4.4%. Kenvue’s dividend payout ratio (DPR) is presently 110.67%.

About Kenvue

Kenvue is a consumer health company that was established as a standalone, publicly traded business after separating from Johnson & Johnson. Listed on the New York Stock Exchange under the symbol KVUE, Kenvue focuses on the development, manufacture, marketing and distribution of consumer health and personal care products across a range of categories including skin and beauty care, baby care, oral care, wound care and over?the?counter medicines.

The company owns and markets a portfolio of widely recognized consumer brands, including names familiar to global shoppers across retail and pharmacy channels.