Bessemer Group Inc. Buys 5,177,404 Shares of Kenvue Inc. $KVUE

Key Points

• Bessemer Group Inc. boosted its Kenvue stake by 156.2% in the fourth quarter, buying 5,177,404 additional shares and bringing its holdings to 8,491,343 shares valued at about $146.5 million.
• Kenvue reported better-than-expected first-quarter results, with EPS of $0.32 versus $0.27 expected and revenue of $3.91 billion, up 4.5% year over year.
• The company declared a quarterly dividend of $0.2075 per share, implying an annualized yield of 4.8%, while analysts currently rate the stock a consensus “Hold” with an average price target of $19.33.

Bessemer Group Inc. raised its stake in shares of Kenvue Inc. (NYSE:KVUE - Free Report) by 156.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 8,491,343 shares of the company's stock after purchasing an additional 5,177,404 shares during the period. Bessemer Group Inc. owned 0.44% of Kenvue worth $146,475,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Physician Wealth Advisors Inc. raised its position in Kenvue by 67.5% during the 4th quarter. Physician Wealth Advisors Inc. now owns 1,533 shares of the company's stock worth $26,000 after purchasing an additional 618 shares during the last quarter. Cornerstone Planning Group LLC raised its position in Kenvue by 705.2% during the 3rd quarter. Cornerstone Planning Group LLC now owns 1,554 shares of the company's stock worth $25,000 after purchasing an additional 1,361 shares during the last quarter. NBT Bank N A NY raised its position in Kenvue by 180.3% during the 3rd quarter. NBT Bank N A NY now owns 1,564 shares of the company's stock worth $25,000 after purchasing an additional 1,006 shares during the last quarter. Golden State Wealth Management LLC raised its position in Kenvue by 150.1% during the 3rd quarter. Golden State Wealth Management LLC now owns 1,983 shares of the company's stock worth $32,000 after purchasing an additional 1,190 shares during the last quarter. Finally, SBI Securities Co. Ltd. raised its position in Kenvue by 82.4% during the 4th quarter. SBI Securities Co. Ltd. now owns 2,273 shares of the company's stock worth $39,000 after purchasing an additional 1,027 shares during the last quarter. 97.64% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, General Counsel Matthew Orlando sold 38,491 shares of the business's stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $17.66, for a total value of $679,751.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.59% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

KVUE has been the subject of several analyst reports. Canaccord Genuity Group raised their target price on Kenvue from $17.00 to $18.00 and gave the stock a "hold" rating in a research report on Wednesday, February 18th. Zacks Research raised Kenvue from a "hold" rating to a "strong-buy" rating in a research report on Friday, May 8th. UBS Group lowered their target price on Kenvue from $19.00 to $18.00 and set a "neutral" rating for the company in a research report on Tuesday, April 7th. Weiss Ratings raised Kenvue from a "hold (c-)" rating to a "hold (c)" rating in a research report on Friday, May 8th. Finally, Barclays lowered their price objective on Kenvue from $19.00 to $18.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 14th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and twelve have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $19.33.

Kenvue Stock Down 0.1%

Shares of NYSE KVUE opened at $17.18 on Friday. The firm has a market cap of $32.98 billion, a PE ratio of 20.21, a P/E/G ratio of 1.30 and a beta of 0.55. Kenvue Inc. has a 12-month low of $14.02 and a 12-month high of $24.35. The company's fifty day simple moving average is $17.50 and its 200 day simple moving average is $17.32. The company has a quick ratio of 0.68, a current ratio of 0.98 and a debt-to-equity ratio of 0.67.

Kenvue (NYSE:KVUE - Get Free Report) last issued its earnings results on Thursday, May 7th. The company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.05. Kenvue had a net margin of 10.61% and a return on equity of 20.81%. The business had revenue of $3.91 billion for the quarter, compared to analyst estimates of $3.84 billion. During the same period in the prior year, the firm earned $0.24 earnings per share. Kenvue's revenue was up 4.5% on a year-over-year basis. As a group, sell-side analysts forecast that Kenvue Inc. will post 1.16 earnings per share for the current fiscal year.

Kenvue Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 27th. Investors of record on Wednesday, May 13th will be given a $0.2075 dividend. This represents a $0.83 dividend on an annualized basis and a yield of 4.8%. The ex-dividend date of this dividend is Wednesday, May 13th. Kenvue's payout ratio is presently 97.65%.

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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