Sumitomo Mitsui Trust Group Inc. Purchases 79,724 Shares of Kenvue Inc. $KVUE

Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of Kenvue Inc. (NYSE:KVUE) by 1.7% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 4,861,654 shares of the company’s stock after buying an additional 79,724 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Kenvue were worth $101,754,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in KVUE. Cambridge Investment Research Advisors Inc. increased its stake in shares of Kenvue by 4.0% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 106,140 shares of the company’s stock worth $2,545,000 after purchasing an additional 4,034 shares in the last quarter. Renaissance Capital LLC increased its position in Kenvue by 8.3% in the second quarter. Renaissance Capital LLC now owns 629,177 shares of the company’s stock worth $13,169,000 after buying an additional 48,267 shares in the last quarter. Farther Finance Advisors LLC raised its stake in shares of Kenvue by 80.7% in the second quarter. Farther Finance Advisors LLC now owns 36,196 shares of the company’s stock worth $758,000 after buying an additional 16,164 shares during the period. Arlington Partners LLC purchased a new position in shares of Kenvue during the 2nd quarter valued at about $2,110,000. Finally, Cornell Pochily Investment Advisors Inc. grew its stake in shares of Kenvue by 144.6% during the 2nd quarter. Cornell Pochily Investment Advisors Inc. now owns 33,173 shares of the company’s stock valued at $694,000 after acquiring an additional 19,609 shares during the period. 97.64% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on KVUE shares. Zacks Research upgraded shares of Kenvue to a “strong sell” rating in a research report on Monday, August 11th. UBS Group decreased their price target on Kenvue from $23.00 to $17.00 and set a “neutral” rating on the stock in a report on Wednesday, October 8th. Canaccord Genuity Group cut their target price on Kenvue from $29.00 to $26.00 and set a “buy” rating for the company in a research report on Friday, August 8th. Royal Bank Of Canada lowered their price target on Kenvue from $24.00 to $22.00 and set a “sector perform” rating on the stock in a report on Friday, August 8th. Finally, Rothschild & Co Redburn raised shares of Kenvue from a “neutral” rating to a “buy” rating and cut their price objective for the company from $22.50 to $22.00 in a report on Friday, September 26th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $20.75.

Kenvue Stock Down 0.6%

Shares of NYSE KVUE opened at $15.00 on Friday. The company has a market cap of $28.78 billion, a P/E ratio of 20.26, a PEG ratio of 2.16 and a beta of 0.72. The firm has a 50-day simple moving average of $17.91 and a two-hundred day simple moving average of $20.79. Kenvue Inc. has a 1 year low of $14.05 and a 1 year high of $25.17. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.98 and a quick ratio of 0.68.

Kenvue (NYSE:KVUE) last issued its quarterly earnings results on Thursday, August 7th. The company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.01. The firm had revenue of $3.84 billion for the quarter, compared to the consensus estimate of $3.94 billion. Kenvue had a return on equity of 20.06% and a net margin of 9.37%.The company’s revenue for the quarter was down 4.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.32 earnings per share. Kenvue has set its FY 2025 guidance at 1.000-1.050 EPS. Research analysts anticipate that Kenvue Inc. will post 1.14 earnings per share for the current year.

Kenvue Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 27th. Stockholders of record on Wednesday, August 13th were paid a dividend of $0.2075 per share. This is a boost from Kenvue’s previous quarterly dividend of $0.21. This represents a $0.83 dividend on an annualized basis and a dividend yield of 5.5%. The ex-dividend date was Wednesday, August 13th. Kenvue’s payout ratio is 112.16%.

Kenvue Company 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.