87,459 Shares in Kenvue Inc. $KVUE Acquired by HBK Sorce Advisory LLC

Key Points

• HBK Sorce Advisory acquired 87,459 Kenvue shares in the second quarter, worth approximately $1.72 million. Institutional investors collectively own 97.64% of KVUE, with Vanguard and State Street among the largest holders.
• Analysts maintain a cautious outlook: Kenvue has a consensus “Hold” rating and an average price target of $19.27, while recent target changes ranged from $19 to $20.
• Kenvue reported quarterly EPS of $0.31, slightly below expectations, while revenue rose 3% year over year to $3.96 billion. The company declared a $0.21 quarterly dividend, equating to a 4.4% yield.

HBK Sorce Advisory LLC purchased a new position in shares of Kenvue Inc. (NYSE:KVUE - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 87,459 shares of the company's stock, valued at approximately $1,720,000.

A number of other institutional investors also recently bought and sold shares of KVUE. Vanguard Group Inc. raised its holdings in shares of Kenvue by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 234,951,484 shares of the company's stock worth $4,052,913,000 after purchasing an additional 1,604,040 shares during the last quarter. State Street Corp boosted its holdings in Kenvue by 3.5% in the fourth quarter. State Street Corp now owns 118,865,134 shares of the company's stock valued at $2,050,424,000 after purchasing an additional 4,063,257 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Kenvue by 0.8% in the fourth quarter. Geode Capital Management LLC now owns 49,862,574 shares of the company's stock valued at $856,778,000 after purchasing an additional 371,322 shares during the last quarter. Independent Franchise Partners LLP boosted its holdings in Kenvue by 56.3% in the fourth quarter. Independent Franchise Partners LLP now owns 48,146,476 shares of the company's stock valued at $830,527,000 after purchasing an additional 17,343,785 shares during the last quarter. Finally, Norges Bank acquired a new stake in Kenvue during the 4th quarter worth about $756,862,000. 97.64% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

KVUE has been the subject of a number of recent research reports. Zacks Research lowered Kenvue from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, July 7th. Barclays upped their target price on Kenvue from $18.00 to $19.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 21st. UBS Group dropped their target price on Kenvue from $20.00 to $19.00 and set a "neutral" rating on the stock in a report on Tuesday, August 11th. Wall Street Zen cut Kenvue from a "buy" rating to a "hold" rating in a research report on Saturday, August 8th. Finally, Weiss Ratings raised Kenvue from a "hold (c-)" rating to a "hold (c)" rating in a report on Monday, June 15th. 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.com, the company has a consensus rating of "Hold" and a consensus price target of $19.27.

Kenvue Stock Performance

NYSE:KVUE opened at $19.20 on Monday. The stock has a market capitalization of $36.87 billion, a PE ratio of 22.06, a P/E/G ratio of 1.37 and a beta of 0.47. Kenvue Inc. has a fifty-two week low of $14.02 and a fifty-two week high of $21.84. The company has a fifty day moving average of $18.95 and a two-hundred day moving average of $18.14. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.71 and a current ratio of 1.01.

Kenvue (NYSE:KVUE - Get Free Report) last posted its quarterly earnings data 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). The firm had revenue of $3.96 billion during the quarter, compared to analyst estimates of $3.97 billion. Kenvue had a return on equity of 21.22% and a net margin of 10.76%.The company's quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.29 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 firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Wednesday, August 12th will be paid a $0.21 dividend. This is an increase from Kenvue's previous quarterly dividend of $0.21. This represents a $0.84 annualized dividend and a dividend yield of 4.4%. The ex-dividend date of this dividend is Wednesday, August 12th. Kenvue's payout ratio is 96.55%.

Kenvue Company 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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