14,401,068 Shares in Kenvue Inc. $KVUE Purchased by Bank of America Corp DE

Key Points

• Bank of America acquired 14.4 million Kenvue shares worth approximately $275.2 million during the second quarter, giving it a 0.75% stake. Institutional investors collectively own 97.64% of the company.
• Kenvue’s latest quarterly results slightly missed expectations, with EPS of $0.31 versus $0.32 forecast and revenue of $3.96 billion versus $3.97 billion expected; revenue nevertheless increased 3% year over year.
• Kenvue declared a quarterly dividend of $0.21 per share, equivalent to an annualized $0.84 and a 4.7% yield. Analysts maintain an overall “Hold” rating, with an average price target of $19.27 versus the stock’s $17.84 opening price.

Bank of America Corp DE bought a new stake in shares of Kenvue Inc. (NYSE:KVUE - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 14,401,068 shares of the company's stock, valued at approximately $275,204,000. Bank of America Corp DE owned 0.75% of Kenvue at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. Port Capital LLC bought a new position in shares of Kenvue during the second quarter worth $282,000. Caisse de depot et placement du Quebec purchased a new position in shares of Kenvue during the second quarter valued at about $16,141,000. Sculptor Capital LP bought a new stake in shares of Kenvue in the second quarter worth about $77,443,000. Odyssean LLC bought a new stake in shares of Kenvue in the second quarter worth about $530,000. Finally, Man Group plc bought a new stake in shares of Kenvue in the second quarter worth about $80,461,000. 97.64% of the stock is owned by hedge funds and other institutional investors.

Kenvue Trading Down 0.4%

Shares of KVUE opened at $17.84 on Thursday. Kenvue Inc. has a twelve month low of $14.02 and a twelve month high of $20.13. The company has a market cap of $34.28 billion, a P/E ratio of 20.51, a P/E/G ratio of 1.64 and a beta of 0.46. 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's fifty day simple moving average is $18.95 and its 200-day simple moving average is $18.21.

Kenvue (NYSE:KVUE - Get Free Report) last released its earnings results 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). Kenvue had a return on equity of 21.22% and a net margin of 10.76%.The firm had revenue of $3.96 billion during the quarter, compared to the consensus estimate of $3.97 billion. During the same quarter last year, the business posted $0.29 EPS. Kenvue's revenue was up 3.0% compared to the same quarter last year. As a group, analysts expect that Kenvue Inc. will post 1.14 EPS for the current year.

Kenvue Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Monday, September 21st will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, September 21st. This represents a $0.84 dividend on an annualized basis and a dividend yield of 4.7%. Kenvue's dividend payout ratio is currently 96.55%.

Analyst Ratings Changes

KVUE has been the subject of several research analyst reports. Wall Street Zen cut Kenvue from a "buy" rating to a "hold" rating in a report on Saturday, August 8th. UBS Group decreased their price objective on Kenvue from $20.00 to $19.00 and set a "neutral" rating on the stock in a report on Tuesday, August 11th. Barclays increased their target price on Kenvue from $18.00 to $19.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 21st. Zacks Research lowered shares of Kenvue from a "strong-buy" rating to a "hold" rating in a report on Tuesday, July 7th. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Kenvue in a report on Friday, September 11th. Three analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $19.27.

Kenvue Company Profile

Kenvue Inc is a global consumer health company that develops, markets and sells products designed to support everyday health and personal care. Its portfolio spans over-the-counter medicines, skin health and beauty, essential health products, and baby and family care.

The company's brands include Tylenol, Motrin, Zyrtec and Benadryl in self-care; Neutrogena, Aveeno and Clean & Clear in skin health and beauty; Listerine in oral care; and Johnson's and Band-Aid in baby care and essential health.

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