Amundi Acquires 5,392,413 Shares of Kenvue Inc. $KVUE

Key Points

• Amundi increased its Kenvue position by 41.2% in the second quarter, acquiring 5.39 million additional shares and bringing its holdings to 18.48 million shares worth approximately $353.2 million.
• Institutional ownership remains very high at 97.64%, with BlackRock, State Street, California State Teachers Retirement System, Pentwater Capital and Geode among major holders.
• Kenvue reported slightly weaker-than-expected quarterly results, while maintaining a $0.21 quarterly dividend that yields about 4.5%. Analysts remain generally cautious, with a consensus “Hold” rating and a $19.27 target price.

Amundi lifted its holdings in Kenvue Inc. (NYSE:KVUE - Free Report) by 41.2% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 18,483,326 shares of the company's stock after purchasing an additional 5,392,413 shares during the period. Amundi owned about 0.96% of Kenvue worth $353,216,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. BlackRock Inc. bought a new stake in Kenvue during the second quarter valued at about $2,882,279,000. State Street Corp raised 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 worth $2,050,424,000 after purchasing an additional 4,063,257 shares in the last quarter. California State Teachers Retirement System raised its holdings in Kenvue by 1,695.1% in the second quarter. California State Teachers Retirement System now owns 56,438,843 shares of the company's stock worth $1,078,546,000 after purchasing an additional 53,294,807 shares in the last quarter. Pentwater Capital Management LP purchased a new stake in shares of Kenvue during the second quarter valued at about $977,094,000. Finally, Geode Capital Management LLC lifted its position 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 valued at $856,778,000 after buying an additional 371,322 shares during the last quarter. 97.64% of the stock is currently owned by institutional investors.

Kenvue Stock Performance

Shares of Kenvue stock opened at $18.70 on Tuesday. The business's 50 day moving average price is $19.18 and its 200 day moving average price is $18.26. The company has a market cap of $35.92 billion, a price-to-earnings ratio of 21.49, a PEG ratio of 1.67 and a beta of 0.46. 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 Inc. has a one year low of $14.02 and a one year high of $20.69.

Kenvue (NYSE:KVUE - Get Free Report) last posted its quarterly 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). The firm had revenue of $3.96 billion during the quarter, compared to analysts' expectations of $3.97 billion. Kenvue had a net margin of 10.76% and a return on equity of 21.22%. The business's quarterly revenue was up 3.0% on a year-over-year basis. During the same period last year, the company earned $0.29 EPS. On average, research analysts predict that Kenvue Inc. will post 1.14 EPS for the current year.

Kenvue Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 26th. Investors of record on Wednesday, August 12th were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 4.5%. This is a positive change from Kenvue's previous quarterly dividend of $0.21. The ex-dividend date of this dividend was Wednesday, August 12th. Kenvue's dividend payout ratio is 96.55%.

Wall Street Analyst Weigh In

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