Alberta Investment Management Corp Acquires New Shares in Kenvue Inc. $KVUE

Alberta Investment Management Corp bought a new stake in Kenvue Inc. (NYSE:KVUE - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 2,332,279 shares of the company's stock, valued at approximately $44,570,000. Alberta Investment Management Corp owned about 0.12% of Kenvue as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in shares of Kenvue by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 234,951,484 shares of the company's stock valued at $4,052,913,000 after acquiring an additional 1,604,040 shares in the last quarter. State Street Corp boosted its stake in shares of Kenvue by 3.5% during 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 in the last quarter. Geode Capital Management LLC grew its holdings in shares of Kenvue by 0.8% during the fourth quarter. Geode Capital Management LLC now owns 49,862,574 shares of the company's stock worth $856,778,000 after purchasing an additional 371,322 shares during the last quarter. Independent Franchise Partners LLP grew its holdings in shares of Kenvue by 56.3% during the fourth quarter. Independent Franchise Partners LLP now owns 48,146,476 shares of the company's stock worth $830,527,000 after purchasing an additional 17,343,785 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Kenvue in the fourth quarter valued at approximately $756,862,000. Institutional investors and hedge funds own 97.64% of the company's stock.

Kenvue Price Performance

Kenvue stock opened at $19.20 on Monday. The stock's 50 day moving average is $18.95 and its 200 day moving average is $18.14. Kenvue Inc. has a one year low of $14.02 and a one year high of $21.84. The firm has a market cap of $36.87 billion, a P/E ratio of 22.06, a P/E/G ratio of 1.37 and a beta of 0.47. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.01 and a quick ratio of 0.71.

Kenvue (NYSE:KVUE - Get Free Report) last released its earnings results on Thursday, August 6th. The company reported $0.31 earnings per share for the quarter, missing analysts' consensus estimates of $0.32 by ($0.01). Kenvue had a net margin of 10.76% and a return on equity of 21.22%. The firm had revenue of $3.96 billion for the quarter, compared to analyst estimates of $3.97 billion. During the same period in the prior year, the company posted $0.29 EPS. The business's revenue for the quarter was up 3.0% compared to the same quarter last year. As a group, research analysts expect that Kenvue Inc. will post 1.14 EPS for the current year.

Kenvue Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Shareholders of record on Wednesday, August 12th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 4.4%. This is an increase from Kenvue's previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Wednesday, August 12th. Kenvue's payout ratio is currently 96.55%.

Analyst Ratings Changes

A number of research analysts recently issued reports on KVUE shares. Zacks Research lowered shares of Kenvue from a "strong-buy" rating to a "hold" rating in a report on Tuesday, July 7th. Wall Street Zen lowered shares of Kenvue from a "buy" rating to a "hold" rating in a report on Saturday, August 8th. UBS Group decreased their price target 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. Weiss Ratings raised shares of Kenvue from a "hold (c-)" rating to a "hold (c)" rating in a research note on Monday, June 15th. Finally, Barclays lifted their price target on shares of Kenvue from $18.00 to $19.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 21st. Three analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $19.27.

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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