Allstate Corp Takes Position in Kenvue Inc. (NYSE:KVUE)

Allstate Corp acquired a new position in Kenvue Inc. (NYSE:KVUE) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 57,503 shares of the company’s stock, valued at approximately $1,228,000.

A number of other hedge funds have also bought and sold shares of KVUE. Townsquare Capital LLC grew its stake in shares of Kenvue by 25.3% in the third quarter. Townsquare Capital LLC now owns 52,713 shares of the company’s stock worth $1,219,000 after acquiring an additional 10,629 shares during the period. Alerus Financial NA raised its stake in Kenvue by 0.3% during the 3rd quarter. Alerus Financial NA now owns 191,345 shares of the company’s stock valued at $4,426,000 after buying an additional 491 shares during the last quarter. Paloma Partners Management Co bought a new position in shares of Kenvue during the 3rd quarter valued at $360,000. Benjamin Edwards Inc. purchased a new position in shares of Kenvue in the 3rd quarter worth $1,323,000. Finally, Holocene Advisors LP grew its holdings in shares of Kenvue by 75.5% in the third quarter. Holocene Advisors LP now owns 13,886,454 shares of the company’s stock worth $321,194,000 after acquiring an additional 5,975,392 shares during the period. Hedge funds and other institutional investors own 97.64% of the company’s stock.

Kenvue Stock Performance

NYSE:KVUE opened at $23.74 on Monday. The stock has a 50-day moving average price of $22.32 and a 200 day moving average price of $22.45. The stock has a market capitalization of $45.36 billion, a P/E ratio of 44.78, a P/E/G ratio of 2.62 and a beta of 1.25. Kenvue Inc. has a 12-month low of $17.67 and a 12-month high of $24.46. The company has a current ratio of 1.00, a quick ratio of 0.69 and a debt-to-equity ratio of 0.66.

Kenvue (NYSE:KVUE) last announced its quarterly earnings data on Thursday, February 6th. The company reported $0.26 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.26. Kenvue had a net margin of 6.66% and a return on equity of 20.97%. Equities research analysts forecast that Kenvue Inc. will post 1.14 EPS for the current fiscal year.

Kenvue Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th were issued a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a dividend yield of 3.45%. The ex-dividend date was Wednesday, February 12th. Kenvue’s dividend payout ratio (DPR) is presently 154.72%.

Analyst Upgrades and Downgrades

KVUE has been the topic of a number of recent research reports. Citigroup lowered their target price on Kenvue from $25.00 to $21.00 and set a “neutral” rating on the stock in a report on Wednesday, January 15th. Deutsche Bank Aktiengesellschaft downgraded shares of Kenvue from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $25.00 to $24.00 in a report on Thursday, December 12th. Barclays upped their target price on shares of Kenvue from $21.00 to $23.00 and gave the company an “equal weight” rating in a report on Thursday. UBS Group dropped their price target on shares of Kenvue from $23.00 to $21.00 and set a “neutral” rating on the stock in a research note on Friday, February 7th. Finally, Evercore ISI initiated coverage on Kenvue in a report on Monday, March 24th. They issued an “in-line” rating and a $25.00 target price on the stock. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $24.00.

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.