ASR Vermogensbeheer N.V. Buys Shares of 315,365 Kenvue Inc. (NYSE:KVUE)

Key Points

• ASR Vermogensbeheer N.V. acquired 315,365 shares of Kenvue Inc. (NYSE:KVUE) for approximately $7.56 million in the first quarter.
• Kenvue's recent earnings report showed $0.24 EPS, surpassing analysts' expectations and reflecting a 3.9% decline in revenue compared to the previous year.
• The company announced a quarterly dividend of $0.2075 per share, a increase from the previous dividend, resulting in an annual yield of 3.9%.

ASR Vermogensbeheer N.V. bought a new position in Kenvue Inc. (NYSE:KVUE - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 315,365 shares of the company's stock, valued at approximately $7,562,000.

A number of other hedge funds also recently made changes to their positions in the company. Fulton Bank N.A. raised its position in Kenvue by 0.6% during the first quarter. Fulton Bank N.A. now owns 78,888 shares of the company's stock worth $1,892,000 after acquiring an additional 465 shares during the period. Scott & Selber Inc. raised its position in shares of Kenvue by 0.4% during the 1st quarter. Scott & Selber Inc. now owns 106,621 shares of the company's stock worth $2,557,000 after purchasing an additional 475 shares during the last quarter. Wealth Alliance LLC lifted its stake in Kenvue by 1.6% in the 1st quarter. Wealth Alliance LLC now owns 31,778 shares of the company's stock valued at $762,000 after buying an additional 486 shares in the last quarter. Keystone Financial Group lifted its stake in Kenvue by 4.8% in the 4th quarter. Keystone Financial Group now owns 12,736 shares of the company's stock valued at $272,000 after buying an additional 578 shares in the last quarter. Finally, Transatlantique Private Wealth LLC boosted its holdings in Kenvue by 5.7% in the 4th quarter. Transatlantique Private Wealth LLC now owns 10,680 shares of the company's stock worth $228,000 after buying an additional 580 shares during the last quarter. 97.64% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on KVUE. Citigroup reduced their target price on Kenvue from $24.50 to $22.00 and set a "neutral" rating for the company in a report on Tuesday, July 15th. UBS Group reduced their price objective on Kenvue from $25.00 to $23.00 and set a "neutral" rating for the company in a research note on Thursday, July 17th. Bank of America lowered their target price on shares of Kenvue from $27.00 to $25.00 and set a "buy" rating on the stock in a research note on Tuesday, July 15th. Barclays reduced their target price on shares of Kenvue from $23.00 to $22.00 and set an "equal weight" rating for the company in a research report on Tuesday, July 15th. Finally, Redburn Atlantic began coverage on shares of Kenvue in a research report on Thursday, April 10th. They set a "neutral" rating and a $23.50 price target on the stock. Seven analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $24.38.

Kenvue Trading Down 1.8%

Shares of KVUE stock traded down $0.39 during trading on Friday, hitting $21.37. 25,925,024 shares of the stock traded hands, compared to its average volume of 21,613,902. Kenvue Inc. has a 52-week low of $19.75 and a 52-week high of $25.17. The firm has a market capitalization of $41.00 billion, a P/E ratio of 28.88, a price-to-earnings-growth ratio of 3.65 and a beta of 0.83. The firm's fifty day moving average price is $21.62 and its 200-day moving average price is $22.40. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.86 and a quick ratio of 0.60.

Kenvue (NYSE:KVUE - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported $0.29 EPS for the quarter, beating analysts' consensus estimates of $0.28 by $0.01. The company had revenue of $3.84 billion for the quarter, compared to the consensus estimate of $3.94 billion. Kenvue had a return on equity of 20.36% and a net margin of 9.37%. The company's revenue for the quarter was down 4.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.32 earnings per share. As a group, research analysts forecast that Kenvue Inc. will post 1.14 earnings per share for the current fiscal year.

Kenvue Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 27th. Investors of record on Wednesday, August 13th will be given a dividend of $0.2075 per share. This represents a $0.83 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date of this dividend is Wednesday, August 13th. This is an increase from Kenvue's previous quarterly dividend of $0.21. Kenvue's dividend payout ratio is 149.09%.

About Kenvue

Kenvue Inc operates as a consumer health company worldwide. The company operates through three segments: Self Care, Skin Health and Beauty, and Essential Health. The Self Care segment offers cough, cold and allergy, pain care, digestive health, smoking cessation, eye care, and other products under the Tylenol, Motrin, Benadryl, Nicorette, Zarbee's, ORSLTM, Rhinocort, Calpol, and Zyrtec brands.