CORDA Investment Management LLC. Boosts Holdings in Kenvue Inc. (NYSE:KVUE)

CORDA Investment Management LLC. lifted its stake in Kenvue Inc. (NYSE:KVUE) by 1.3% during the third quarter, HoldingsChannel reports. The institutional investor owned 1,235,630 shares of the company’s stock after acquiring an additional 16,270 shares during the period. Kenvue accounts for approximately 2.2% of CORDA Investment Management LLC.’s portfolio, making the stock its 24th biggest position. CORDA Investment Management LLC.’s holdings in Kenvue were worth $28,580,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of KVUE. First Trust Direct Indexing L.P. grew its position in shares of Kenvue by 29.2% in the 1st quarter. First Trust Direct Indexing L.P. now owns 24,463 shares of the company’s stock valued at $525,000 after buying an additional 5,524 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. grew its position in Kenvue by 8.3% during the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 41,507 shares of the company’s stock worth $891,000 after purchasing an additional 3,169 shares during the last quarter. Fidelis Capital Partners LLC purchased a new position in Kenvue during the 1st quarter worth $106,000. Daiwa Securities Group Inc. grew its position in Kenvue by 18.5% during the 1st quarter. Daiwa Securities Group Inc. now owns 197,654 shares of the company’s stock worth $4,242,000 after purchasing an additional 30,802 shares during the last quarter. Finally, Salomon & Ludwin LLC purchased a new position in Kenvue during the 1st quarter worth $33,000. 97.64% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have issued reports 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 price objective on the stock. in a research report on Tuesday, September 24th. Citigroup lowered their price objective on shares of Kenvue from $21.00 to $20.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. Jefferies Financial Group began coverage on shares of Kenvue in a research report on Tuesday, September 24th. They set a “buy” rating and a $27.00 price objective on the stock. Bank of America lifted their target price on shares of Kenvue from $24.00 to $27.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Finally, UBS Group lifted their target price on shares of Kenvue from $20.00 to $22.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $22.64.

Kenvue Stock Down 0.9 %

Shares of NYSE KVUE opened at $22.73 on Monday. Kenvue Inc. has a 12-month low of $17.67 and a 12-month high of $23.55. The company has a market capitalization of $43.53 billion, a PE ratio of 39.19, a price-to-earnings-growth ratio of 3.00 and a beta of 1.35. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.99 and a quick ratio of 0.68. The firm’s 50-day moving average is $22.53 and its two-hundred day moving average is $20.42.

Kenvue (NYSE:KVUE) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.04. Kenvue had a net margin of 7.23% and a return on equity of 21.80%. The company had revenue of $4 billion for the quarter, compared to the consensus estimate of $3.93 billion. During the same quarter in the prior year, the firm earned $0.32 earnings per share. The company’s revenue for the quarter was down .3% compared to the same quarter last year. Equities analysts anticipate that Kenvue Inc. will post 1.08 EPS for the current fiscal year.

Kenvue Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th will be issued a $0.205 dividend. This represents a $0.82 annualized dividend and a dividend yield of 3.61%. The ex-dividend date of this dividend is Wednesday, November 13th. Kenvue’s dividend payout ratio (DPR) is presently 141.38%.

Kenvue 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.