Corebridge Financial Inc. Buys 21,209 Shares of Kenvue Inc. (NYSE:KVUE)

Corebridge Financial Inc. grew its position in Kenvue Inc. (NYSE:KVUE) by 4.2% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 525,602 shares of the company’s stock after acquiring an additional 21,209 shares during the period. Corebridge Financial Inc.’s holdings in Kenvue were worth $11,222,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Grove Bank & Trust raised its position in Kenvue by 438.4% in the fourth quarter. Grove Bank & Trust now owns 1,163 shares of the company’s stock valued at $25,000 after purchasing an additional 947 shares during the last quarter. Geneos Wealth Management Inc. bought a new position in Kenvue in the 4th quarter valued at approximately $29,000. SRS Capital Advisors Inc. boosted its position in Kenvue by 67.4% during the 4th quarter. SRS Capital Advisors Inc. now owns 1,418 shares of the company’s stock worth $30,000 after buying an additional 571 shares during the period. Fortitude Family Office LLC grew its holdings in Kenvue by 106.6% during the 4th quarter. Fortitude Family Office LLC now owns 1,506 shares of the company’s stock worth $32,000 after acquiring an additional 777 shares during the last quarter. Finally, Versant Capital Management Inc increased its position in Kenvue by 300.8% in the 4th quarter. Versant Capital Management Inc now owns 1,920 shares of the company’s stock valued at $41,000 after acquiring an additional 1,441 shares during the period. Institutional investors and hedge funds own 97.64% of the company’s stock.

Kenvue Stock Up 1.3 %

Kenvue stock opened at $23.40 on Thursday. The company has a market capitalization of $44.72 billion, a PE ratio of 44.15, a PEG 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 firm’s fifty day moving average is $22.22 and its 200 day moving average is $22.45. The company has a quick ratio of 0.69, a current ratio of 1.00 and a debt-to-equity ratio of 0.66.

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

Kenvue Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th were issued a dividend of $0.205 per share. The ex-dividend date was Wednesday, February 12th. This represents a $0.82 annualized dividend and a dividend yield of 3.50%. Kenvue’s dividend payout ratio is 154.72%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Canaccord Genuity Group lifted their price target on shares of Kenvue from $24.00 to $29.00 and gave the stock a “buy” rating in a report on Wednesday, March 5th. Deutsche Bank Aktiengesellschaft lowered Kenvue from a “buy” rating to a “hold” rating and reduced their price target for the company from $25.00 to $24.00 in a research report on Thursday, December 12th. UBS Group lowered their price objective on Kenvue from $23.00 to $21.00 and set a “neutral” rating for the company in a research report on Friday, February 7th. Citigroup reduced 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. Finally, Evercore ISI initiated coverage on shares of Kenvue in a report on Monday. They set an “in-line” rating and a $25.00 price target for the company. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Kenvue has an average rating of “Hold” and an average price target of $23.85.

About Kenvue

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.