K2 Principal Fund L.P. bought a new position in Kenvue Inc. (NYSE:KVUE – Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 229,093 shares of the company’s stock, valued at approximately $4,378,000.
A number of other institutional investors have also recently bought and sold shares of the stock. CoreCap Advisors LLC raised its stake in Kenvue by 64.9% during the second quarter. CoreCap Advisors LLC now owns 1,502 shares of the company’s stock worth $29,000 after purchasing an additional 591 shares during the period. Elyxium Wealth LLC purchased a new stake in shares of Kenvue during the 4th quarter valued at $26,000. Physician Wealth Advisors Inc. grew its stake in shares of Kenvue by 67.5% during the 4th quarter. Physician Wealth Advisors Inc. now owns 1,533 shares of the company’s stock valued at $26,000 after buying an additional 618 shares during the period. MV Capital Management Inc. acquired a new stake in shares of Kenvue during the 4th quarter worth $28,000. Finally, Bell Investment Advisors Inc acquired a new stake in shares of Kenvue during the 2nd quarter worth $35,000. 97.64% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of brokerages recently weighed in on KVUE. Barclays lifted their target price on Kenvue from $18.00 to $19.00 and gave the company an “equal weight” rating in a report on Tuesday, July 21st. Weiss Ratings upgraded Kenvue from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, June 15th. Zacks Research lowered Kenvue from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 7th. Wall Street Zen lowered Kenvue from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Finally, UBS Group decreased their target price on Kenvue from $20.00 to $19.00 and set a “neutral” rating for the company in a report on Tuesday, August 11th. Three analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $19.27.
Kenvue Stock Performance
NYSE:KVUE opened at $18.82 on Wednesday. The company has a current ratio of 1.01, a quick ratio of 0.71 and a debt-to-equity ratio of 0.67. The firm has a market capitalization of $36.15 billion, a price-to-earnings ratio of 21.63, a PEG ratio of 1.37 and a beta of 0.47. The firm’s fifty day simple moving average is $19.00 and its 200 day simple moving average is $18.16. Kenvue Inc. has a twelve month low of $14.02 and a twelve month high of $21.84.
Kenvue (NYSE:KVUE – Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.01). Kenvue had a return on equity of 21.22% and a net margin of 10.76%.The business had revenue of $3.96 billion for the quarter, compared to analysts’ expectations of $3.97 billion. During the same period last year, the company posted $0.29 earnings per share. The firm’s revenue for the quarter was up 3.0% on a year-over-year basis. As a group, equities research analysts expect that Kenvue Inc. will post 1.14 earnings per share for the current fiscal year.
Kenvue Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Wednesday, August 12th will be given a $0.21 dividend. The ex-dividend date of this dividend is Wednesday, August 12th. This is a positive change from Kenvue’s previous quarterly dividend of $0.21. This represents a $0.84 annualized dividend and a dividend yield of 4.5%. Kenvue’s dividend payout ratio (DPR) is currently 96.55%.
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.
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