GABELLI & Co INVESTMENT ADVISERS INC. increased its position in shares of Kenvue Inc. (NYSE:KVUE – Free Report) by 77.3% during the first quarter, Holdings Channel reports. The fund owned 742,600 shares of the company’s stock after acquiring an additional 323,650 shares during the quarter. Kenvue makes up approximately 1.9% of GABELLI & Co INVESTMENT ADVISERS INC.’s investment portfolio, making the stock its 15th biggest position. GABELLI & Co INVESTMENT ADVISERS INC.’s holdings in Kenvue were worth $12,802,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of KVUE. Vanguard Group Inc. raised its holdings in Kenvue by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 234,951,484 shares of the company’s stock valued at $4,052,913,000 after acquiring an additional 1,604,040 shares during the last quarter. State Street Corp boosted its holdings in shares of Kenvue by 3.5% during the fourth quarter. State Street Corp now owns 118,865,134 shares of the company’s stock worth $2,050,424,000 after purchasing an additional 4,063,257 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Kenvue by 0.8% during the fourth quarter. Geode Capital Management LLC now owns 49,862,574 shares of the company’s stock worth $856,778,000 after purchasing an additional 371,322 shares during the last quarter. Independent Franchise Partners LLP grew its position in shares of Kenvue by 56.3% in the fourth quarter. Independent Franchise Partners LLP now owns 48,146,476 shares of the company’s stock valued at $830,527,000 after purchasing an additional 17,343,785 shares during the period. Finally, Norges Bank purchased a new stake in shares of Kenvue in the fourth quarter valued at $756,862,000. 97.64% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several equities analysts recently weighed in on the company. Citigroup reduced their target price on Kenvue from $20.00 to $19.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 15th. UBS Group lifted their price target on Kenvue from $18.00 to $20.00 and gave the company a “neutral” rating in a report on Thursday, July 16th. Wall Street Zen raised shares of Kenvue to a “buy” rating in a research note on Sunday, July 12th. Weiss Ratings raised shares of Kenvue from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, June 15th. Finally, Zacks Research lowered shares of Kenvue from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 7th. Three investment analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $19.58.
Insider Activity
In other news, General Counsel Matthew Orlando sold 38,491 shares of Kenvue stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $17.66, for a total transaction of $679,751.06. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 1.59% of the stock is owned by corporate insiders.
Kenvue Price Performance
Shares of NYSE KVUE opened at $19.25 on Friday. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.98 and a quick ratio of 0.70. Kenvue Inc. has a 1-year low of $14.02 and a 1-year high of $22.87. The company has a market capitalization of $36.97 billion, a price-to-earnings ratio of 22.65, a PEG ratio of 1.43 and a beta of 0.47. The business has a 50-day moving average of $18.38 and a 200-day moving average of $17.92.
Kenvue (NYSE:KVUE – Get Free Report) last announced its earnings results on Thursday, May 7th. The company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.27 by $0.05. The business had revenue of $3.91 billion for the quarter, compared to the consensus estimate of $3.84 billion. Kenvue had a return on equity of 20.81% and a net margin of 10.61%.The company’s revenue was up 4.5% on a year-over-year basis. During the same period last year, the business posted $0.24 EPS. On average, equities analysts anticipate that Kenvue Inc. will post 1.16 EPS for the current fiscal year.
Kenvue Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 27th. Shareholders of record on Wednesday, May 13th were given a $0.2075 dividend. The ex-dividend date of this dividend was Wednesday, May 13th. This represents a $0.83 annualized dividend and a yield of 4.3%. Kenvue’s dividend payout ratio (DPR) is 97.65%.
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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