The Manufacturers Life Insurance Company Acquires 110,849 Shares of Kenvue Inc. (NYSE:KVUE)

The Manufacturers Life Insurance Company increased its holdings in Kenvue Inc. (NYSE:KVUE) by 5.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,138,576 shares of the company’s stock after purchasing an additional 110,849 shares during the period. The Manufacturers Life Insurance Company’s holdings in Kenvue were worth $49,465,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of KVUE. Bank of Montreal Can lifted its position in Kenvue by 54.7% during the 3rd quarter. Bank of Montreal Can now owns 5,737,216 shares of the company’s stock worth $133,448,000 after acquiring an additional 2,029,769 shares during the last quarter. Horizon Kinetics Asset Management LLC acquired a new position in Kenvue during the 3rd quarter worth $422,000. Longfellow Investment Management Co. LLC lifted its position in Kenvue by 63.4% during the 3rd quarter. Longfellow Investment Management Co. LLC now owns 29,523 shares of the company’s stock worth $683,000 after acquiring an additional 11,459 shares during the last quarter. Whetstone Capital Advisors LLC acquired a new position in Kenvue during the 3rd quarter worth $202,000. Finally, Independent Advisor Alliance lifted its position in Kenvue by 10.8% during the 3rd quarter. Independent Advisor Alliance now owns 51,003 shares of the company’s stock worth $1,180,000 after acquiring an additional 4,960 shares during the last quarter. 97.64% of the stock is currently owned by institutional investors.

Kenvue Price Performance

Shares of Kenvue stock opened at $24.13 on Friday. The company has a current ratio of 1.00, a quick ratio of 0.69 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $46.26 billion, a price-to-earnings ratio of 43.87, a P/E/G ratio of 2.20 and a beta of 1.36. Kenvue Inc. has a 1-year low of $17.67 and a 1-year high of $24.46. The firm’s 50-day moving average price is $22.92 and its two-hundred day moving average price is $20.96.

Kenvue (NYSE:KVUE) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.01. The firm had revenue of $3.90 billion for the quarter, compared to analysts’ expectations of $3.92 billion. Kenvue had a net margin of 6.88% and a return on equity of 21.43%. The company’s quarterly revenue was down .4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.31 earnings per share. On average, equities analysts predict that Kenvue Inc. will post 1.07 earnings per share for the current fiscal year.

Kenvue Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th were paid a dividend of $0.205 per share. The ex-dividend date was Wednesday, November 13th. This represents a $0.82 annualized dividend and a yield of 3.40%. Kenvue’s dividend payout ratio is 149.09%.

Analysts Set New Price Targets

A number of brokerages have recently commented on KVUE. JPMorgan Chase & Co. upped their price objective on shares of Kenvue from $24.00 to $25.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. Royal Bank of Canada lowered shares of Kenvue from an “outperform” rating to a “sector perform” rating and set a $24.00 price objective for the company. in a research report on Tuesday, September 24th. Piper Sandler upped their price objective on shares of Kenvue from $20.00 to $21.00 and gave the company a “neutral” rating in a research report on Monday, September 23rd. Jefferies Financial Group started coverage on shares of Kenvue in a research report on Tuesday, September 24th. They set a “buy” rating and a $27.00 price objective for the company. Finally, UBS Group increased their price target on shares of Kenvue from $20.00 to $22.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $22.64.

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.