Boston Partners Grows Stock Position in Kenvue Inc. (NYSE:KVUE)

Key Points

• Boston Partners has increased its stake in Kenvue Inc. by 7.4%, holding approximately 25.3 million shares valued at about $606.92 million.
• Kenvue has recently announced a quarterly dividend increase to $0.2075 per share, yielding 3.8% annually, with the ex-dividend date set for August 13th.
• Analysts have adjusted their price targets for Kenvue, with an average consensus price target of $24.38 and a current rating of "Hold" from seven research firms.

Boston Partners grew its stake in shares of Kenvue Inc. (NYSE:KVUE - Free Report) by 7.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 25,346,453 shares of the company's stock after buying an additional 1,750,490 shares during the period. Boston Partners owned approximately 1.32% of Kenvue worth $606,920,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Pittenger & Anderson Inc. bought a new position in shares of Kenvue during the 1st quarter valued at about $30,000. TruNorth Capital Management LLC bought a new position in shares of Kenvue during the 1st quarter valued at about $36,000. Clal Insurance Enterprises Holdings Ltd lifted its holdings in shares of Kenvue by 378.5% during the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,627 shares of the company's stock valued at $39,000 after purchasing an additional 1,287 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich lifted its holdings in shares of Kenvue by 120.6% during the 1st quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,699 shares of the company's stock valued at $41,000 after purchasing an additional 929 shares in the last quarter. Finally, Clarity Asset Management Inc. acquired a new stake in Kenvue in the 4th quarter valued at approximately $45,000. Institutional investors own 97.64% of the company's stock.

Kenvue Stock Down 3.0%

Kenvue stock traded down $0.66 during mid-day trading on Thursday, reaching $21.06. The stock had a trading volume of 14,760,615 shares, compared to its average volume of 18,421,518. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.68 and a current ratio of 0.98. Kenvue Inc. has a fifty-two week low of $19.75 and a fifty-two week high of $25.17. The stock's 50-day simple moving average is $21.55 and its 200-day simple moving average is $22.42. The firm has a market capitalization of $40.41 billion, a PE ratio of 28.45, a price-to-earnings-growth ratio of 3.12 and a beta of 0.83.

Kenvue (NYSE:KVUE - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported $0.29 earnings per share for the quarter, beating analysts' consensus estimates of $0.28 by $0.01. Kenvue had a return on equity of 20.06% and a net margin of 9.37%. The company had revenue of $3.84 billion for the quarter, compared to analyst estimates of $3.94 billion. During the same quarter last year, the company earned $0.32 earnings per share. The company's revenue for the quarter was down 4.0% on a year-over-year basis. On average, sell-side analysts forecast that Kenvue Inc. will post 1.14 EPS for the current fiscal year.

Kenvue Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 27th. Stockholders of record on Wednesday, August 13th will be issued a $0.2075 dividend. This is a boost from Kenvue's previous quarterly dividend of $0.21. This represents a $0.83 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date is Wednesday, August 13th. Kenvue's dividend payout ratio is 112.16%.

Analyst Upgrades and Downgrades

KVUE has been the topic of several research reports. Citigroup cut their target price on Kenvue from $24.50 to $22.00 and set a "neutral" rating on the stock in a research note on Tuesday, July 15th. JPMorgan Chase & Co. cut their target price on Kenvue from $27.00 to $26.00 and set an "overweight" rating on the stock in a research note on Friday, July 25th. UBS Group cut their target price on Kenvue from $25.00 to $23.00 and set a "neutral" rating on the stock in a research note on Thursday, July 17th. Bank of America cut their target price on Kenvue from $27.00 to $25.00 and set a "buy" rating on the stock in a research note on Tuesday, July 15th. Finally, Royal Bank Of Canada cut their target price on Kenvue from $24.00 to $22.00 and set a "sector perform" rating on the stock in a research note on Friday, August 8th. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $24.38.

Kenvue Profile

Kenvue Inc operates as a consumer health company worldwide. The company operates through three segments: Self Care, Skin Health and Beauty, and Essential Health. The Self Care segment offers cough, cold and allergy, pain care, digestive health, smoking cessation, eye care, and other products under the Tylenol, Motrin, Benadryl, Nicorette, Zarbee's, ORSLTM, Rhinocort, Calpol, and Zyrtec brands.