HighTower Advisors LLC Raises Stock Position in Kenvue Inc. $KVUE

HighTower Advisors LLC raised its stake in shares of Kenvue Inc. (NYSE:KVUE) by 21.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 6,659,603 shares of the company’s stock after buying an additional 1,169,283 shares during the period. HighTower Advisors LLC owned about 0.35% of Kenvue worth $108,085,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank purchased a new position in Kenvue in the second quarter worth about $537,418,000. Independent Franchise Partners LLP lifted its stake in shares of Kenvue by 233.4% in the 2nd quarter. Independent Franchise Partners LLP now owns 31,265,574 shares of the company’s stock worth $654,388,000 after purchasing an additional 21,886,537 shares during the period. American Century Companies Inc. boosted its holdings in shares of Kenvue by 38.6% in the second quarter. American Century Companies Inc. now owns 30,265,020 shares of the company’s stock worth $633,447,000 after buying an additional 8,436,166 shares during the last quarter. Amundi increased its holdings in Kenvue by 82.5% during the second quarter. Amundi now owns 14,509,890 shares of the company’s stock valued at $305,446,000 after buying an additional 6,559,261 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in Kenvue by 1.8% in the second quarter. Vanguard Group Inc. now owns 233,246,267 shares of the company’s stock worth $4,881,844,000 after acquiring an additional 4,101,880 shares during the period. 97.64% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director Jeffrey C. Smith acquired 3,200,000 shares of the company’s stock in a transaction on Friday, December 12th. The stock was acquired at an average price of $17.37 per share, with a total value of $55,584,000.00. Following the acquisition, the director directly owned 27,307,632 shares of the company’s stock, valued at approximately $474,333,567.84. This trade represents a 13.27% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.17% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Weiss Ratings reissued a “hold (c-)” rating on shares of Kenvue in a research report on Friday, January 9th. Barclays boosted their price target on Kenvue from $17.00 to $18.00 and gave the company an “equal weight” rating in a report on Monday, November 10th. Zacks Research raised Kenvue from a “strong sell” rating to a “hold” rating in a research note on Wednesday, November 26th. Jefferies Financial Group downgraded Kenvue from a “buy” rating to a “hold” rating and cut their price objective for the company from $23.00 to $18.00 in a research note on Friday, January 30th. Finally, Johnson Rice restated a “neutral” rating on shares of Kenvue in a research note on Tuesday, October 28th. Four investment analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company’s stock. According to MarketBeat, Kenvue currently has a consensus rating of “Hold” and a consensus target price of $19.46.

Kenvue Stock Performance

NYSE:KVUE opened at $18.70 on Monday. The stock has a 50-day moving average price of $17.38 and a 200 day moving average price of $17.70. The stock has a market capitalization of $35.82 billion, a P/E ratio of 24.93 and a beta of 0.59. Kenvue Inc. has a 12-month low of $14.02 and a 12-month high of $25.17. The company has a current ratio of 0.98, a quick ratio of 0.69 and a debt-to-equity ratio of 0.66.

Kenvue Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 25th. Investors of record on Wednesday, February 11th will be given a dividend of $0.2075 per share. The ex-dividend date is Wednesday, February 11th. This represents a $0.83 dividend on an annualized basis and a dividend yield of 4.4%. Kenvue’s dividend payout ratio is currently 110.67%.

Kenvue Profile

Kenvue is a consumer health company that was established as a standalone, publicly traded business after separating from Johnson & Johnson. Listed on the New York Stock Exchange under the symbol KVUE, Kenvue focuses on the development, manufacture, marketing and distribution of consumer health and personal care products across a range of categories including skin and beauty care, baby care, oral care, wound care and over‑the‑counter medicines.

The company owns and markets a portfolio of widely recognized consumer brands, including names familiar to global shoppers across retail and pharmacy channels.