10,051,261 Shares in Kenvue Inc. $KVUE Purchased by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon acquired 10.05 million Kenvue shares worth approximately $192.1 million, giving it a 0.52% stake. Institutional investors collectively own 97.64% of the company.
• Kenvue reported quarterly revenue of $3.96 billion, up 3% year over year, but EPS of $0.31 fell short of analysts’ $0.32 estimate. Analysts maintain a consensus “Hold” rating with a $19.27 price target.
• Kenvue’s quarterly dividend is $0.21 per share, equating to an annualized $0.84 dividend and a 4.4% yield, although its payout ratio remains high at 96.55%.

Bank of New York Mellon Corp acquired a new stake in shares of Kenvue Inc. (NYSE:KVUE - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 10,051,261 shares of the company's stock, valued at approximately $192,080,000. Bank of New York Mellon Corp owned 0.52% of Kenvue at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Calamos Advisors LLC lifted its position in Kenvue by 24.1% in the first quarter. Calamos Advisors LLC now owns 3,351,000 shares of the company's stock worth $57,771,000 after buying an additional 651,000 shares during the last quarter. State of Wyoming lifted its holdings in shares of Kenvue by 233.5% in the 4th quarter. State of Wyoming now owns 97,992 shares of the company's stock worth $1,690,000 after acquiring an additional 68,609 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its holdings in shares of Kenvue by 21.5% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 3,491,548 shares of the company's stock worth $60,229,000 after acquiring an additional 618,720 shares during the last quarter. Cullen Frost Bankers Inc. boosted its stake in shares of Kenvue by 19.9% during the 4th quarter. Cullen Frost Bankers Inc. now owns 431,394 shares of the company's stock worth $7,442,000 after purchasing an additional 71,591 shares during the period. Finally, Cibc World Market Inc. boosted its stake in shares of Kenvue by 8.7% during the 4th quarter. Cibc World Market Inc. now owns 744,290 shares of the company's stock worth $12,839,000 after purchasing an additional 59,723 shares during the period. Hedge funds and other institutional investors own 97.64% of the company's stock.

Kenvue Price Performance

Shares of KVUE stock opened at $19.08 on Friday. The company has a market capitalization of $36.65 billion, a P/E ratio of 21.93, a P/E/G ratio of 1.36 and a beta of 0.47. The company's 50-day simple moving average is $19.05 and its two-hundred day simple moving average is $18.19. Kenvue Inc. has a one year low of $14.02 and a one year high of $21.78. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.01 and a quick ratio of 0.71.

Kenvue (NYSE:KVUE - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.31 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.32 by ($0.01). Kenvue had a net margin of 10.76% and a return on equity of 21.22%. The firm had revenue of $3.96 billion during the quarter, compared to analysts' expectations of $3.97 billion. During the same quarter in the previous year, the firm posted $0.29 EPS. The firm's revenue for the quarter was up 3.0% on a year-over-year basis. As a group, equities analysts anticipate that Kenvue Inc. will post 1.14 EPS for the current year.

Kenvue Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 26th. Shareholders of record on Wednesday, August 12th will be given a dividend of $0.21 per share. This is a boost from Kenvue's previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Wednesday, August 12th. This represents a $0.84 dividend on an annualized basis and a yield of 4.4%. Kenvue's dividend payout ratio is presently 96.55%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on KVUE. Weiss Ratings upgraded shares of Kenvue from a "hold (c-)" rating to a "hold (c)" rating in a report on Monday, June 15th. UBS Group decreased their price objective 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 lowered Kenvue from a "buy" rating to a "hold" rating in a research report on Saturday, August 8th. Barclays upped their target price on Kenvue from $18.00 to $19.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 21st. Finally, Zacks Research downgraded Kenvue from a "strong-buy" rating to a "hold" rating in a report on Tuesday, July 7th. Three equities research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. Based on data from MarketBeat, Kenvue presently has an average rating of "Hold" and a consensus target price of $19.27.

About Kenvue

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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