577,973 Shares in Kenvue Inc. (NYSE:KVUE) Purchased by Prospector Partners LLC

Key Points

• Prospector Partners LLC acquired 577,973 shares of Kenvue Inc., valuing their investment at approximately $13.86 million, making it the 26th largest position in their portfolio.
• Kenvue recently increased its quarterly dividend to $0.2075 per share, resulting in an annualized yield of 3.9% and a payout ratio of 112.16%.
• Kenvue's stock maintains a market cap of $40.59 billion and has experienced a drop in revenue, reporting $3.84 billion for the latest quarter, down 4% from the same quarter last year.

Prospector Partners LLC bought a new position in Kenvue Inc. (NYSE:KVUE - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 577,973 shares of the company's stock, valued at approximately $13,860,000. Kenvue comprises about 1.6% of Prospector Partners LLC's investment portfolio, making the stock its 26th largest position.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Starboard Value LP purchased a new position in shares of Kenvue during the 4th quarter valued at about $467,864,000. Vanguard Group Inc. lifted its position in shares of Kenvue by 4.9% during the 1st quarter. Vanguard Group Inc. now owns 229,144,387 shares of the company's stock valued at $5,494,882,000 after buying an additional 10,600,682 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Kenvue by 3.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 245,885,918 shares of the company's stock valued at $5,249,665,000 after buying an additional 8,211,748 shares in the last quarter. Nuveen LLC purchased a new position in shares of Kenvue during the 1st quarter valued at about $187,123,000. Finally, Goldman Sachs Group Inc. lifted its position in shares of Kenvue by 34.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 19,670,179 shares of the company's stock valued at $471,691,000 after buying an additional 5,011,431 shares in the last quarter. 97.64% of the stock is owned by hedge funds and other institutional investors.

Kenvue Stock Performance

NYSE KVUE opened at $21.15 on Friday. The company has a market cap of $40.59 billion, a P/E ratio of 28.58, a P/E/G ratio of 3.05 and a beta of 0.83. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.68 and a current ratio of 0.98. The business's 50 day moving average price is $21.54 and its 200-day moving average price is $22.42. Kenvue Inc. has a fifty-two week low of $19.75 and a fifty-two week high of $25.17.

Kenvue (NYSE:KVUE - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.01. The firm 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 20.06% and a net margin of 9.37%. The company's revenue for the quarter was down 4.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.32 EPS. Sell-side analysts predict that Kenvue Inc. will post 1.14 earnings per share for the current year.

Kenvue Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 27th. Investors of record on Wednesday, August 13th will be issued a dividend of $0.2075 per share. This represents a $0.83 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date is Wednesday, August 13th. This is an increase from Kenvue's previous quarterly dividend of $0.21. Kenvue's dividend payout ratio (DPR) is presently 112.16%.

Wall Street Analyst Weigh In

A number of research firms recently commented on KVUE. Bank of America lowered their price target on Kenvue from $27.00 to $25.00 and set a "buy" rating on the stock 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 on the stock in a research note on Thursday, July 17th. Zacks Research raised Kenvue to a "strong sell" rating in a research note on Monday, August 11th. Royal Bank Of Canada reduced their price objective on Kenvue from $24.00 to $22.00 and set a "sector perform" rating on the stock in a research note on Friday, August 8th. Finally, Barclays reduced their price objective on Kenvue from $23.00 to $22.00 and set an "equal weight" rating on the stock in a research note on Tuesday, July 15th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $24.38.

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.

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