Canada Pension Plan Investment Board Sells 2,749,266 Shares of Kenvue Inc. $KVUE

Key Points

• The Canada Pension Plan Investment Board has sold 2,749,266 shares of Kenvue Inc., reducing its stake by 72.9% and now owning approximately 1,020,426 shares worth $24.47 million.
• Kenvue has increased its quarterly dividend to $0.2075 per share, resulting in an annualized dividend yield of 4.0%, despite a 112.16% payout ratio.
• The company reported a quarterly EPS of $0.29, surpassing analyst expectations, although its revenue of $3.84 billion fell short of estimates, marking a 4.0% year-over-year decline.

Canada Pension Plan Investment Board lessened its holdings in Kenvue Inc. (NYSE:KVUE - Free Report) by 72.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,020,426 shares of the company's stock after selling 2,749,266 shares during the period. Canada Pension Plan Investment Board owned 0.05% of Kenvue worth $24,470,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Pittenger & Anderson Inc. acquired a new stake in shares of Kenvue in the 1st quarter valued at $30,000. TruNorth Capital Management LLC acquired a new stake in shares of Kenvue in the 1st quarter valued at $36,000. Truvestments Capital LLC bought a new position in Kenvue in the 1st quarter worth $37,000. Clal Insurance Enterprises Holdings Ltd raised its holdings in Kenvue by 378.5% in the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,627 shares of the company's stock worth $39,000 after acquiring an additional 1,287 shares during the period. Finally, Bank Julius Baer & Co. Ltd Zurich raised its holdings in Kenvue by 120.6% in the 1st quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,699 shares of the company's stock worth $41,000 after acquiring an additional 929 shares during the period. Institutional investors and hedge funds own 97.64% of the company's stock.

Analyst Ratings Changes

Several brokerages recently commented on KVUE. Citigroup dropped their target price on shares of Kenvue from $24.50 to $22.00 and set a "neutral" rating on the stock in a report on Tuesday, July 15th. Zacks Research upgraded shares of Kenvue to a "strong sell" rating in a report on Monday, August 11th. Barclays dropped their target price on shares of Kenvue from $23.00 to $22.00 and set an "equal weight" rating on the stock in a report on Tuesday, July 15th. Royal Bank Of Canada dropped their target price on shares of Kenvue from $24.00 to $22.00 and set a "sector perform" rating on the stock in a report on Friday, August 8th. Finally, UBS Group dropped their target price on shares of Kenvue from $25.00 to $23.00 and set a "neutral" rating on the stock in a report on Thursday, July 17th. Five equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $24.38.

Kenvue Stock Performance

Shares of NYSE:KVUE traded up $0.06 on Thursday, hitting $20.51. 15,322,810 shares of the company were exchanged, compared to its average volume of 17,233,639. The company's 50 day moving average price is $21.42 and its two-hundred day moving average price is $22.42. Kenvue Inc. has a one year low of $19.75 and a one year high of $25.17. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.68 and a current ratio of 0.98. The firm has a market capitalization of $39.35 billion, a price-to-earnings ratio of 27.71, a PEG ratio of 2.97 and a beta of 0.83.

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

Kenvue Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 27th. Investors of record on Wednesday, August 13th were paid a $0.2075 dividend. The ex-dividend date of this dividend was Wednesday, August 13th. This is an increase from Kenvue's previous quarterly dividend of $0.21. This represents a $0.83 dividend on an annualized basis and a yield of 4.0%. Kenvue's payout ratio is presently 112.16%.

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.