Commerzbank Aktiengesellschaft FI purchased a new position in Kenvue Inc. (NYSE:KVUE – Free Report) in the second quarter, HoldingsChannel.com reports. The fund purchased 73,621 shares of the company’s stock, valued at approximately $1,407,000.
Several other institutional investors and hedge funds have also modified their holdings of the company. Arrowstreet Capital Limited Partnership purchased a new position in shares of Kenvue during the 2nd quarter worth $6,528,000. Jump Financial LLC boosted its stake in shares of Kenvue by 210.6% in the second quarter. Jump Financial LLC now owns 54,823 shares of the company’s stock valued at $1,147,000 after purchasing an additional 37,170 shares during the period. AXA S.A. grew its stake in shares of Kenvue by 21.1% during the second 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 in the last quarter. NewEdge Advisors LLC grew its stake in Kenvue by 219.1% during the 2nd quarter. NewEdge Advisors LLC now owns 97,481 shares of the company’s stock valued at $2,040,000 after purchasing an additional 66,930 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in shares of Kenvue by 0.6% in the second quarter. The Manufacturers Life Insurance Company now owns 1,873,705 shares of the company’s stock worth $39,217,000 after buying an additional 10,885 shares during the last quarter. Hedge funds and other institutional investors own 97.64% of the company’s stock.
Wall Street Analyst Weigh In
Several analysts have issued reports on KVUE shares. Barclays upped their price objective on Kenvue from $18.00 to $19.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 21st. UBS Group reduced 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. Wall Street Zen cut Kenvue from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Zacks Research lowered shares of Kenvue from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 7th. Finally, Weiss Ratings upgraded shares of Kenvue from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, June 15th. Three investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $19.27.
Kenvue Stock Up 0.2%
Shares of Kenvue stock 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 company has a market cap of $36.15 billion, a P/E ratio of 21.63, a P/E/G ratio of 1.37 and a beta of 0.47. The stock has a 50-day moving average price of $19.00 and a 200 day moving average price of $18.16. Kenvue Inc. has a 1 year low of $14.02 and a 1 year high of $21.84.
Kenvue (NYSE:KVUE – Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.01). The company had revenue of $3.96 billion for the quarter, compared to analysts’ expectations of $3.97 billion. Kenvue had a net margin of 10.76% and a return on equity of 21.22%. The business’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.29 earnings per share. As a group, analysts expect that Kenvue Inc. will post 1.14 EPS for the current fiscal year.
Kenvue Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 26th. Investors of record on Wednesday, August 12th will be issued a $0.21 dividend. This is an increase from Kenvue’s previous quarterly dividend of $0.21. This represents a $0.84 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date 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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