Canada Pension Plan Investment Board Makes New $74.89 Million Investment in Kenvue Inc. $KVUE

Key Points

• Canada Pension Plan Investment Board acquired 3.92 million Kenvue shares worth approximately $74.9 million, representing a 0.20% stake. Institutional investors and hedge funds collectively own 97.64% of the company.
• Kenvue’s latest quarterly results slightly missed expectations, with EPS of $0.31 versus $0.32 expected and revenue of $3.96 billion versus $3.97 billion forecast, though sales increased 3% year over year.
• The stock traded near $19.23, while analysts maintained an overall “Hold” view with an average price target of $19.27. Kenvue pays a quarterly dividend of $0.21, equivalent to a 4.4% annual yield.

Canada Pension Plan Investment Board acquired a new position in Kenvue Inc. (NYSE:KVUE - Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The firm acquired 3,919,153 shares of the company's stock, valued at approximately $74,895,000. Canada Pension Plan Investment Board owned 0.20% of Kenvue at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Kapitalo Investimentos Ltda acquired a new stake in Kenvue during the 2nd quarter worth approximately $1,108,000. Kinloch Capital LLC acquired a new position in Kenvue during the second quarter valued at approximately $4,265,000. Royal Capital Wealth Management LLC acquired a new position in Kenvue during the second quarter valued at approximately $311,000. Legal & General Group Plc purchased a new stake in Kenvue during the second quarter worth approximately $253,393,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in Kenvue during the second quarter worth approximately $27,146,000. 97.64% of the stock is owned by institutional investors and hedge funds.

Kenvue Stock Down 0.5%

Shares of NYSE KVUE opened at $19.23 on Thursday. Kenvue Inc. has a 1 year low of $14.02 and a 1 year high of $20.95. The firm has a market cap of $36.94 billion, a price-to-earnings ratio of 22.10, a PEG ratio of 1.38 and a beta of 0.47. 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 stock's 50-day simple moving average is $19.12 and its 200-day simple moving average is $18.23.

Kenvue (NYSE:KVUE - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.31 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.01). The business had revenue of $3.96 billion during the quarter, compared to analyst estimates of $3.97 billion. Kenvue had a return on equity of 21.22% and a net margin of 10.76%.The company's revenue was up 3.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.29 EPS. As a group, equities analysts anticipate that Kenvue Inc. will post 1.14 earnings per share for the current fiscal year.

Kenvue Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 26th. Shareholders of record on Wednesday, August 12th were given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date of this dividend was Wednesday, August 12th. This is a positive change from Kenvue's previous quarterly dividend of $0.21. Kenvue's dividend payout ratio is currently 96.55%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on KVUE. Barclays raised their target price on shares of Kenvue from $18.00 to $19.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 21st. Wall Street Zen cut shares of Kenvue from a "buy" rating to a "hold" rating in a research report on Saturday, August 8th. Zacks Research downgraded Kenvue from a "strong-buy" rating to a "hold" rating in a report on Tuesday, July 7th. Weiss Ratings raised Kenvue from a "hold (c-)" rating to a "hold (c)" rating in a research report on Monday, June 15th. Finally, UBS Group reduced their price objective on Kenvue from $20.00 to $19.00 and set a "neutral" rating on the stock in a research note on Tuesday, August 11th. Three equities research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $19.27.

Kenvue 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.

Want to see what other hedge funds are holding KVUE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Kenvue Inc. (NYSE:KVUE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source