Norden Group LLC Invests $689,000 in Kenvue Inc. $KVUE

Norden Group LLC purchased a new position in Kenvue Inc. (NYSE:KVUE) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 39,953 shares of the company’s stock, valued at approximately $689,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. American Century Companies Inc. lifted its position in Kenvue by 22.4% during the third quarter. American Century Companies Inc. now owns 37,046,660 shares of the company’s stock worth $601,267,000 after purchasing an additional 6,781,640 shares during the period. Independent Franchise Partners LLP increased its holdings in Kenvue by 233.4% in the 2nd quarter. Independent Franchise Partners LLP now owns 31,265,574 shares of the company’s stock valued at $654,388,000 after buying an additional 21,886,537 shares during the period. Norges Bank bought a new position in Kenvue in the 2nd quarter valued at about $537,418,000. Dimensional Fund Advisors LP raised its position in shares of Kenvue by 13.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 23,127,234 shares of the company’s stock valued at $375,377,000 after buying an additional 2,747,952 shares in the last quarter. Finally, Van ECK Associates Corp lifted its holdings in shares of Kenvue by 101.3% during the 3rd quarter. Van ECK Associates Corp now owns 18,361,581 shares of the company’s stock worth $298,008,000 after acquiring an additional 9,240,434 shares during the period. Institutional investors and hedge funds own 97.64% of the company’s stock.

Kenvue Trading Down 0.3%

Shares of Kenvue stock opened at $17.52 on Friday. The firm’s 50 day moving average is $18.01 and its 200 day moving average is $17.13. The firm has a market capitalization of $33.57 billion, a PE ratio of 22.75, a price-to-earnings-growth ratio of 3.98 and a beta of 0.51. Kenvue Inc. has a 1 year low of $14.02 and a 1 year high of $25.17. The company has a current ratio of 0.96, a quick ratio of 0.68 and a debt-to-equity ratio of 0.66.

Kenvue (NYSE:KVUE) last issued its quarterly earnings data on Tuesday, February 17th. The company reported $0.27 EPS for the quarter, beating the consensus estimate of $0.22 by $0.05. Kenvue had a net margin of 9.72% and a return on equity of 19.72%. The business had revenue of $3.78 billion during the quarter, compared to the consensus estimate of $3.68 billion. During the same quarter in the prior year, the firm earned $0.26 EPS. The firm’s revenue was up 3.2% compared to the same quarter last year. Equities research analysts forecast that Kenvue Inc. will post 1.14 earnings per share for the current fiscal year.

Kenvue Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 25th. Stockholders of record on Wednesday, February 11th were paid a $0.2075 dividend. This represents a $0.83 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date was Wednesday, February 11th. Kenvue’s dividend payout ratio is presently 107.79%.

Wall Street Analyst Weigh In

KVUE has been the topic of several analyst reports. Citigroup increased their price target on shares of Kenvue from $18.00 to $20.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 18th. Jefferies Financial Group downgraded shares of Kenvue from a “buy” rating to a “hold” rating and lowered their price objective for the company from $23.00 to $18.00 in a research report on Friday, January 30th. Barclays raised their target price on Kenvue from $18.00 to $19.00 and gave the company an “equal weight” rating in a report on Friday, March 6th. Canaccord Genuity Group lifted their price target on Kenvue from $17.00 to $18.00 and gave the company a “hold” rating in a research note on Wednesday, February 18th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Kenvue in a report on Friday, January 9th. Three equities research analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $19.58.

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.