BlackRock Inc. Purchases Shares of 150,825,694 Kenvue Inc. $KVUE

BlackRock Inc. bought a new position in Kenvue Inc. (NYSE:KVUE - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 150,825,694 shares of the company's stock, valued at approximately $2,882,279,000. BlackRock Inc. owned about 7.86% of Kenvue at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of Kenvue by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 234,951,484 shares of the company's stock worth $4,052,913,000 after acquiring an additional 1,604,040 shares in the last quarter. State Street Corp increased its holdings in Kenvue by 3.5% in the 4th quarter. State Street Corp now owns 118,865,134 shares of the company's stock worth $2,050,424,000 after buying an additional 4,063,257 shares in the last quarter. Geode Capital Management LLC raised 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 valued at $856,778,000 after purchasing an additional 371,322 shares during the last quarter. Independent Franchise Partners LLP lifted its holdings in shares of Kenvue by 56.3% during the 4th quarter. Independent Franchise Partners LLP now owns 48,146,476 shares of the company's stock valued at $830,527,000 after buying an additional 17,343,785 shares during the period. Finally, Norges Bank purchased a new position in Kenvue in the fourth quarter worth about $756,862,000. Institutional investors own 97.64% of the company's stock.

Kenvue Stock Performance

Shares of Kenvue stock opened at $18.82 on Wednesday. Kenvue Inc. has a one year low of $14.02 and a one year high of $21.84. The company has a 50-day simple moving average of $19.00 and a two-hundred day simple moving average of $18.16. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.71 and a current ratio of 1.01. The company has a market capitalization of $36.15 billion, a PE ratio of 21.63, a P/E/G ratio of 1.37 and a beta of 0.47.

Kenvue (NYSE:KVUE - Get Free Report) last announced its earnings results on Thursday, August 6th. The company reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.01). Kenvue had a net margin of 10.76% and a return on equity of 21.22%. The business 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 earned $0.29 earnings per share. The company's quarterly revenue was up 3.0% on a year-over-year basis. Research analysts expect 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 will be paid on Wednesday, August 26th. Stockholders of record on Wednesday, August 12th will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date of this dividend is Wednesday, August 12th. This is a positive change from Kenvue's previous quarterly dividend of $0.21. Kenvue's dividend payout ratio is 96.55%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on KVUE shares. Zacks Research downgraded Kenvue from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, July 7th. 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. Wall Street Zen downgraded Kenvue from a "buy" rating to a "hold" rating in a research note on Saturday, August 8th. Weiss Ratings upgraded shares of Kenvue from a "hold (c-)" rating to a "hold (c)" rating in a research report on Monday, June 15th. Finally, Barclays raised their price target on Kenvue from $18.00 to $19.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 21st. Three research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average 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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