Principal Financial Group Inc. Grows Stock Holdings in Kenvue Inc. $KVUE

Principal Financial Group Inc. grew its holdings in shares of Kenvue Inc. (NYSE:KVUE) by 2.3% in the 4th quarter, Holdings Channel.com reports. The firm owned 2,128,437 shares of the company’s stock after acquiring an additional 47,921 shares during the period. Principal Financial Group Inc.’s holdings in Kenvue were worth $36,716,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Physician Wealth Advisors Inc. lifted its holdings in shares of Kenvue by 67.5% during the fourth quarter. Physician Wealth Advisors Inc. now owns 1,533 shares of the company’s stock valued at $26,000 after purchasing an additional 618 shares during the last quarter. Cornerstone Planning Group LLC lifted its holdings in shares of Kenvue by 705.2% during the third quarter. Cornerstone Planning Group LLC now owns 1,554 shares of the company’s stock valued at $25,000 after purchasing an additional 1,361 shares during the last quarter. NBT Bank N A NY lifted its holdings in shares of Kenvue by 180.3% during the third quarter. NBT Bank N A NY now owns 1,564 shares of the company’s stock valued at $25,000 after purchasing an additional 1,006 shares during the last quarter. Golden State Wealth Management LLC lifted its holdings in shares of Kenvue by 150.1% during the third quarter. Golden State Wealth Management LLC now owns 1,983 shares of the company’s stock valued at $32,000 after purchasing an additional 1,190 shares during the last quarter. Finally, Atlantic Union Bankshares Corp lifted its holdings in shares of Kenvue by 184.1% during the third quarter. Atlantic Union Bankshares Corp now owns 2,619 shares of the company’s stock valued at $43,000 after purchasing an additional 1,697 shares during the last quarter. 97.64% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

KVUE has been the subject of several recent research reports. Argus upgraded shares of Kenvue to a “hold” rating in a report on Friday, March 6th. Canaccord Genuity Group lifted their target price on shares of Kenvue from $17.00 to $18.00 and gave the company a “hold” rating in a report on Wednesday, February 18th. Weiss Ratings upgraded shares of Kenvue from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday. Jefferies Financial Group lowered shares of Kenvue from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $23.00 to $18.00 in a report on Friday, January 30th. Finally, UBS Group decreased their price objective on shares of Kenvue from $19.00 to $18.00 and set a “neutral” rating for the company in a report on Tuesday, April 7th. Three equities research analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the stock. Based on data from MarketBeat, Kenvue currently has an average rating of “Hold” and a consensus target price of $19.33.

Kenvue Price Performance

Shares of NYSE KVUE opened at $17.59 on Friday. Kenvue Inc. has a twelve month low of $14.02 and a twelve month high of $24.61. The firm has a market cap of $33.76 billion, a P/E ratio of 20.69, a PEG ratio of 3.99 and a beta of 0.55. The company has a 50 day moving average of $17.65 and a 200 day moving average of $17.24. The company has a quick ratio of 0.68, a current ratio of 0.96 and a debt-to-equity ratio of 0.66.

Kenvue (NYSE:KVUE) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.05. Kenvue had a net margin of 10.61% and a return on equity of 20.76%. The company had revenue of $3.91 billion during the quarter, compared to analyst estimates of $3.84 billion. During the same period in the previous year, the business earned $0.24 EPS. The firm’s revenue for the quarter was up 4.5% on a year-over-year basis. As a group, research analysts expect that Kenvue Inc. will post 1.16 EPS for the current fiscal year.

Kenvue Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 27th. Investors of record on Wednesday, May 13th will be issued a $0.2075 dividend. This represents a $0.83 dividend on an annualized basis and a yield of 4.7%. The ex-dividend date is Wednesday, May 13th. Kenvue’s payout ratio is presently 107.79%.

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.