7,600,073 Shares in Kenvue Inc. $KVUE Bought by Equity Investment Corp

Key Points

• Equity Investment Corp acquired 7.6 million Kenvue shares worth approximately $145.2 million, making Kenvue about 2.8% of its portfolio and its 10th-largest holding.
• Kenvue reported quarterly revenue of $3.96 billion, up 3% year over year, but earnings of $0.31 per share narrowly missed analyst expectations. The stock opened at $18.82, while analysts maintain a consensus “Hold” rating and a $19.27 price target.
• Kenvue declared a quarterly dividend of $0.21 per share, equivalent to an annualized $0.84 payout and a 4.5% yield, with payment scheduled for August 26.

Equity Investment Corp acquired a new position in shares of Kenvue Inc. (NYSE:KVUE - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 7,600,073 shares of the company's stock, valued at approximately $145,237,000. Kenvue comprises about 2.8% of Equity Investment Corp's investment portfolio, making the stock its 10th largest position. Equity Investment Corp owned approximately 0.40% of Kenvue as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the business. Physician Wealth Advisors Inc. boosted its stake in shares of Kenvue by 67.5% during the fourth quarter. Physician Wealth Advisors Inc. now owns 1,533 shares of the company's stock worth $26,000 after buying an additional 618 shares during the period. Elyxium Wealth LLC acquired a new position in Kenvue in the 4th quarter valued at about $26,000. MV Capital Management Inc. acquired a new position in Kenvue in the 4th quarter valued at about $28,000. CoreCap Advisors LLC raised its stake in Kenvue by 64.9% during the 2nd quarter. CoreCap Advisors LLC now owns 1,502 shares of the company's stock valued at $29,000 after acquiring an additional 591 shares during the last quarter. Finally, Reflection Asset Management purchased a new stake in Kenvue during the 4th quarter valued at approximately $32,000. 97.64% of the stock is currently owned by institutional investors and hedge funds.

Kenvue Stock Up 0.2%

Shares of NYSE KVUE opened at $18.82 on Wednesday. The stock has a market capitalization of $36.15 billion, a price-to-earnings ratio of 21.63, a price-to-earnings-growth ratio of 1.37 and a beta of 0.47. Kenvue Inc. has a 52 week low of $14.02 and a 52 week high of $21.84. The firm has a 50-day moving average price of $19.00 and a 200 day moving average price of $18.16. The company has a quick ratio of 0.71, a current ratio of 1.01 and a debt-to-equity ratio of 0.67.

Kenvue (NYSE:KVUE - Get Free Report) last issued its earnings results on Thursday, August 6th. The company reported $0.31 earnings per share 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 company had revenue of $3.96 billion for the quarter, compared to analyst estimates of $3.97 billion. During the same quarter in the previous year, the company posted $0.29 earnings per share. The company's quarterly revenue was up 3.0% compared to the same quarter last year. Equities research analysts anticipate 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 paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 4.5%. The ex-dividend date of this dividend is Wednesday, August 12th. This is an increase from Kenvue's previous quarterly dividend of $0.21. Kenvue's dividend payout ratio (DPR) is 96.55%.

Analyst Ratings Changes

Several research analysts have weighed in on KVUE shares. Wall Street Zen downgraded Kenvue from a "buy" rating to a "hold" rating in a research note on Saturday, August 8th. Weiss Ratings raised Kenvue from a "hold (c-)" rating to a "hold (c)" rating in a report on Monday, June 15th. Zacks Research lowered shares of Kenvue from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, July 7th. Barclays boosted their price objective on shares of Kenvue from $18.00 to $19.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 21st. Finally, UBS Group cut their price objective on shares of Kenvue from $20.00 to $19.00 and set a "neutral" rating for the company in a research report on Tuesday, August 11th. Three analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $19.27.

Kenvue 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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