Advisors Capital Management LLC Has $36.67 Million Stock Position in Kenvue Inc. $KVUE

Key Points

• Advisors Capital Management LLC increased its stake in Kenvue Inc. by 64.1%, purchasing 597,396 shares, bringing their total ownership to 1,529,161 shares valued at approximately $36.67 million.
• Kenvue recently reported earnings per share (EPS) of $0.29 for the quarter, slightly exceeding estimates, but experienced a 4% decline in revenue year-over-year.
• The company announced a dividend increase to $0.2075 per share, representing a 4.5% yield, though the payout ratio is notably high at 112.16%.

Advisors Capital Management LLC grew its holdings in shares of Kenvue Inc. (NYSE:KVUE - Free Report) by 64.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,529,161 shares of the company's stock after buying an additional 597,396 shares during the quarter. Advisors Capital Management LLC owned approximately 0.08% of Kenvue worth $36,669,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake 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 worth $5,494,882,000 after purchasing an additional 10,600,682 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Kenvue by 2.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 25,606,238 shares of the company's stock worth $613,882,000 after purchasing an additional 633,461 shares during the last quarter. Boston Partners increased its stake in shares of Kenvue by 7.4% during the 1st quarter. Boston Partners now owns 25,346,453 shares of the company's stock worth $606,920,000 after purchasing an additional 1,750,490 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Kenvue by 11.6% during the 1st quarter. JPMorgan Chase & Co. now owns 24,912,226 shares of the company's stock worth $597,395,000 after purchasing an additional 2,597,920 shares during the last quarter. Finally, Starboard Value LP acquired a new position in shares of Kenvue during the 4th quarter worth about $467,864,000. 97.64% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Evercore ISI lowered their price objective on shares of Kenvue from $25.00 to $23.00 and set an "in-line" rating on the stock in a research note on Monday, September 8th. Royal Bank Of Canada decreased their price target on shares of Kenvue from $24.00 to $22.00 and set a "sector perform" rating on the stock in a research note on Friday, August 8th. Bank of America decreased their price target 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. Canaccord Genuity Group cut their price objective on shares of Kenvue from $29.00 to $26.00 and set a "buy" rating for the company in a report on Friday, August 8th. Finally, UBS Group cut their price objective on shares of Kenvue from $25.00 to $23.00 and set a "neutral" rating for the company in a report on Thursday, July 17th. Five equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Kenvue currently has a consensus rating of "Hold" and an average price target of $24.21.

Kenvue Price Performance

Shares of Kenvue stock traded up $0.18 on Friday, reaching $19.03. 26,726,491 shares of the stock were exchanged, compared to its average volume of 23,182,142. 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 firm has a market cap of $36.52 billion, a PE ratio of 25.71, a P/E/G ratio of 2.71 and a beta of 0.83. The firm's 50 day moving average is $21.14 and its 200-day moving average is $22.23. Kenvue Inc. has a one year low of $17.15 and a one year high of $25.17.

Kenvue (NYSE:KVUE - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported $0.29 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.28 by $0.01. The business had revenue of $3.84 billion for the quarter, compared to analysts' expectations of $3.94 billion. Kenvue had a net margin of 9.37% and a return on equity of 20.06%. The firm's quarterly revenue was down 4.0% compared to the same quarter last year. During the same period last year, the firm posted $0.32 earnings per share. Kenvue has set its FY 2025 guidance at 1.000-1.050 EPS. As a group, 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 was paid on Wednesday, August 27th. Investors of record on Wednesday, August 13th were paid a $0.2075 dividend. This represents a $0.83 dividend on an annualized basis and a yield of 4.4%. This is a positive change from Kenvue's previous quarterly dividend of $0.21. The ex-dividend date of this dividend was Wednesday, August 13th. Kenvue's payout ratio is 112.16%.

Kenvue Profile

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.