Algert Global LLC Buys Shares of 212,065 Kenvue Inc. $KVUE

Key Points

• Algert Global initiated a position in Kenvue by purchasing 212,065 shares worth approximately $4.05 million. Institutional investors collectively own 97.64% of the company.
• Analysts maintain a cautious outlook, with a consensus “Hold” rating and an average price target of $19.27. Kenvue recently missed quarterly earnings and revenue estimates slightly, despite 3% year-over-year revenue growth.
• Kenvue shares opened at $19.20, near their 50-day moving average, while the company’s quarterly dividend equates to an annualized $0.84 payout and a 4.4% yield.

Algert Global LLC bought a new position in Kenvue Inc. (NYSE:KVUE - Free Report) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 212,065 shares of the company's stock, valued at approximately $4,053,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. BlackRock Inc. acquired a new position in Kenvue in the 2nd quarter worth $2,882,279,000. Norges Bank acquired a new position in Kenvue during the fourth quarter worth $756,862,000. Independent Franchise Partners LLP grew its position 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 in the last quarter. Sculptor Capital LP boosted its stake in shares of Kenvue by 1,023.5% during the 4th quarter. Sculptor Capital LP now owns 12,886,328 shares of the company's stock worth $222,289,000 after buying an additional 11,739,328 shares during the last quarter. Finally, Bank of New York Mellon Corp acquired a new position in shares of Kenvue during the 2nd quarter worth about $192,080,000. 97.64% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

Kenvue Trading Down 0.1%

Shares of KVUE stock opened at $19.20 on Friday. The stock has a market cap of $36.87 billion, a P/E ratio of 22.06, a price-to-earnings-growth ratio of 1.38 and a beta of 0.47. Kenvue Inc. has a 1 year low of $14.02 and a 1 year high of $20.82. The company has a current ratio of 1.01, a quick ratio of 0.71 and a debt-to-equity ratio of 0.67. The stock has a 50 day simple moving average of $19.14 and a 200 day simple moving average of $18.24.

Kenvue (NYSE:KVUE - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The company reported $0.31 EPS for the quarter, missing analysts' consensus estimates of $0.32 by ($0.01). The company had revenue of $3.96 billion for the quarter, compared to the consensus estimate of $3.97 billion. Kenvue had a return on equity of 21.22% and a net margin of 10.76%.Kenvue's revenue was up 3.0% on a year-over-year basis. During the same quarter last year, the business earned $0.29 EPS. On average, research analysts predict that Kenvue Inc. will post 1.14 earnings per share for the current fiscal year.

Kenvue Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 26th. Investors of record on Wednesday, August 12th were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 4.4%. This is a boost from Kenvue's previous quarterly dividend of $0.21. The ex-dividend date of this dividend was Wednesday, August 12th. Kenvue's payout ratio is 96.55%.

About Kenvue

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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