Nordea Investment Management AB Sells 587,409 Shares of Kenvue Inc. (NYSE:KVUE)

Nordea Investment Management AB trimmed its stake in Kenvue Inc. (NYSE:KVUE) by 8.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,618,899 shares of the company’s stock after selling 587,409 shares during the period. Nordea Investment Management AB owned 0.35% of Kenvue worth $141,777,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. FMR LLC grew its holdings in Kenvue by 2.3% during the third quarter. FMR LLC now owns 137,915,493 shares of the company’s stock valued at $3,189,985,000 after purchasing an additional 3,075,019 shares during the period. State Street Corp raised its stake in Kenvue by 16.8% during the 3rd quarter. State Street Corp now owns 127,213,940 shares of the company’s stock worth $2,942,458,000 after acquiring an additional 18,283,473 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in Kenvue by 8.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 86,979,341 shares of the company’s stock valued at $2,011,832,000 after purchasing an additional 7,115,374 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Kenvue by 0.9% in the third quarter. Geode Capital Management LLC now owns 44,677,077 shares of the company’s stock worth $1,029,810,000 after purchasing an additional 399,846 shares during the period. Finally, Harris Associates L P increased its stake in shares of Kenvue by 7.5% in the third quarter. Harris Associates L P now owns 31,459,511 shares of the company’s stock worth $727,658,000 after purchasing an additional 2,186,114 shares in the last quarter. 97.64% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on KVUE shares. Barclays upgraded shares of Kenvue to a “hold” rating in a research note on Thursday, December 12th. Royal Bank of Canada raised Kenvue from a “hold” rating to a “moderate buy” rating in a research note on Monday, December 9th. JPMorgan Chase & Co. lifted their target price on Kenvue from $24.00 to $25.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. Deutsche Bank Aktiengesellschaft downgraded Kenvue from a “buy” rating to a “hold” rating and dropped their price target for the stock from $25.00 to $24.00 in a research note on Thursday, December 12th. Finally, 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 on the stock. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $23.09.

Kenvue Price Performance

Kenvue stock opened at $21.08 on Tuesday. Kenvue Inc. has a 52-week low of $17.67 and a 52-week high of $24.46. The company has a quick ratio of 0.69, a current ratio of 1.00 and a debt-to-equity ratio of 0.66. The firm’s fifty day moving average is $22.81 and its 200 day moving average is $21.53. The company has a market cap of $40.42 billion, a price-to-earnings ratio of 38.33, a PEG ratio of 2.02 and a beta of 1.46.

Kenvue (NYSE:KVUE) last announced its earnings results on Thursday, November 7th. The company reported $0.28 earnings per share (EPS) for the quarter, beating 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 business’s revenue was down .4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.31 EPS. Sell-side analysts forecast that Kenvue Inc. will post 1.07 EPS for the current fiscal year.

Kenvue Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th were issued a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a dividend yield of 3.89%. The ex-dividend date of this dividend was Wednesday, November 13th. Kenvue’s dividend payout ratio (DPR) is 149.09%.

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.