Burgundy Asset Management Ltd. Increases Holdings in Kenvue Inc. $KVUE

Key Points

• Burgundy Asset Management Ltd. increased its stake in Kenvue Inc. by 8.9%, acquiring an additional 533,528 shares, bringing its total holdings to 6,555,942 shares, valued at approximately $157.2 million.
• Kenvue recently declared a quarterly dividend of $0.2075 per share, marking an increase from the previous dividend of $0.21, with a current yield of 3.9%.
• Analysts have mixed outlooks for Kenvue, with price targets ranging from $22.00 to $26.00, with an average rating of "Hold" and an average target price of $24.38.

Burgundy Asset Management Ltd. grew its holdings in Kenvue Inc. (NYSE:KVUE - Free Report) by 8.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,555,942 shares of the company's stock after purchasing an additional 533,528 shares during the period. Kenvue comprises about 1.6% of Burgundy Asset Management Ltd.'s investment portfolio, making the stock its 24th biggest holding. Burgundy Asset Management Ltd. owned 0.34% of Kenvue worth $157,211,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of KVUE. Starboard Value LP bought a new stake in shares of Kenvue in the 4th quarter worth $467,864,000. Vanguard Group Inc. increased its holdings in shares of Kenvue by 4.9% in the 1st quarter. Vanguard Group Inc. now owns 229,144,387 shares of the company's stock worth $5,494,882,000 after purchasing an additional 10,600,682 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Kenvue by 3.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 245,885,918 shares of the company's stock worth $5,249,665,000 after purchasing an additional 8,211,748 shares in the last quarter. Nuveen LLC bought a new stake in shares of Kenvue in the 1st quarter worth $187,123,000. Finally, Goldman Sachs Group Inc. increased its holdings in shares of Kenvue by 34.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 19,670,179 shares of the company's stock worth $471,691,000 after purchasing an additional 5,011,431 shares in the last quarter. Institutional investors own 97.64% of the company's stock.

Analyst Ratings Changes

KVUE has been the subject of several research analyst reports. JPMorgan Chase & Co. cut their price objective on Kenvue from $27.00 to $26.00 and set an "overweight" rating for the company in a report on Friday, July 25th. UBS Group cut their price objective on Kenvue from $25.00 to $23.00 and set a "neutral" rating for the company in a report on Thursday, July 17th. Citigroup cut their price objective on Kenvue from $24.50 to $22.00 and set a "neutral" rating for the company in a report on Tuesday, July 15th. Barclays cut their price objective on Kenvue from $23.00 to $22.00 and set an "equal weight" rating for the company in a report on Tuesday, July 15th. Finally, Zacks Research raised Kenvue to a "strong sell" rating in a report on Monday, August 11th. Five equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Kenvue presently has an average rating of "Hold" and a consensus target price of $24.38.

Kenvue Stock Performance

NYSE KVUE traded up $0.3850 on Tuesday, hitting $21.4850. 13,900,327 shares of the company traded hands, compared to its average volume of 18,923,206. The company has a market capitalization of $41.23 billion, a price-to-earnings ratio of 29.03, a P/E/G ratio of 3.03 and a beta of 0.83. The company has a current ratio of 0.98, a quick ratio of 0.68 and a debt-to-equity ratio of 0.66. The business's 50 day moving average price is $21.54 and its 200-day moving average price is $22.42. Kenvue Inc. has a 52-week low of $19.75 and a 52-week high of $25.17.

Kenvue (NYSE:KVUE - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.01. The company had revenue of $3.84 billion for the quarter, compared to the consensus estimate of $3.94 billion. Kenvue had a return on equity of 20.06% and a net margin of 9.37%.Kenvue's quarterly revenue was down 4.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.32 earnings per share. Kenvue has set its FY 2025 guidance at 1.000-1.050 EPS. Equities analysts expect that Kenvue Inc. will post 1.14 earnings per share for the current year.

Kenvue Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 27th. Investors of record on Wednesday, August 13th will be given a dividend of $0.2075 per share. This represents a $0.83 annualized dividend and a yield of 3.9%. This is a boost from Kenvue's previous quarterly dividend of $0.21. The ex-dividend date is Wednesday, August 13th. Kenvue's dividend payout ratio (DPR) is presently 112.16%.

About Kenvue

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.