Hsbc Holdings PLC grew its stake in Kenvue Inc. (NYSE:KVUE – Free Report) by 34.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,544,394 shares of the company’s stock after buying an additional 1,926,217 shares during the period. Hsbc Holdings PLC owned 0.39% of Kenvue worth $143,893,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Arrowstreet Capital Limited Partnership purchased a new position in Kenvue during the 2nd quarter worth approximately $6,528,000. Jump Financial LLC grew its position in shares of Kenvue by 210.6% during the second quarter. Jump Financial LLC now owns 54,823 shares of the company’s stock worth $1,147,000 after acquiring an additional 37,170 shares during the last quarter. AXA S.A. increased its holdings in shares of Kenvue by 21.1% in the 2nd quarter. AXA S.A. now owns 48,892 shares of the company’s stock valued at $1,023,000 after acquiring an additional 8,524 shares during the period. NewEdge Advisors LLC increased its holdings in shares of Kenvue by 219.1% in the 2nd quarter. NewEdge Advisors LLC now owns 97,481 shares of the company’s stock valued at $2,040,000 after acquiring an additional 66,930 shares during the period. Finally, The Manufacturers Life Insurance Company raised its position in Kenvue by 0.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,873,705 shares of the company’s stock valued at $39,217,000 after purchasing an additional 10,885 shares during the last quarter. 97.64% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several brokerages have issued reports on KVUE. Zacks Research downgraded shares of Kenvue from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 7th. Weiss Ratings upgraded shares of Kenvue from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, June 15th. Wall Street Zen cut shares of Kenvue from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. UBS Group decreased their target price on shares of Kenvue from $20.00 to $19.00 and set a “neutral” rating for the company in a research note on Tuesday, August 11th. Finally, Barclays raised their price target on Kenvue from $18.00 to $19.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 21st. Three investment analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $19.27.
Kenvue Price Performance
Shares of NYSE KVUE opened at $19.34 on Wednesday. The stock has a fifty day moving average price of $19.10 and a 200 day moving average price of $18.22. Kenvue Inc. has a 1-year low of $14.02 and a 1-year high of $21.40. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.01 and a quick ratio of 0.71. The company has a market cap of $37.16 billion, a PE ratio of 22.24, a P/E/G ratio of 1.39 and a beta of 0.47.
Kenvue (NYSE:KVUE – Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.01). The firm had revenue of $3.96 billion during the quarter, compared to analyst estimates of $3.97 billion. Kenvue had a net margin of 10.76% and a return on equity of 21.22%. The business’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.29 earnings per share. Sell-side analysts forecast that Kenvue Inc. will post 1.14 EPS for the current year.
Kenvue Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Investors of record on Wednesday, August 12th will be issued a dividend of $0.21 per share. This is an increase from Kenvue’s previous quarterly dividend of $0.21. This represents a $0.84 annualized dividend and a yield of 4.3%. The ex-dividend date of this dividend is Wednesday, August 12th. Kenvue’s dividend payout ratio is currently 96.55%.
Kenvue Company 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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