Cibc World Market Inc. Buys 59,723 Shares of Kenvue Inc. $KVUE

Key Points

• Cibc World Market Inc. increased its Kenvue stake by 8.7% in the fourth quarter, buying 59,723 additional shares and bringing its total holdings to 744,290 shares worth about $12.8 million.
• Kenvue’s latest quarterly results beat expectations, with EPS of $0.32 versus $0.27 expected and revenue of $3.91 billion, up 4.5% year over year.
• The stock also carries a 4.7% dividend yield, while Wall Street’s overall view remains cautious with a consensus rating of “Hold” and a price target of $19.33.

Cibc World Market Inc. grew its stake in Kenvue Inc. (NYSE:KVUE - Free Report) by 8.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 744,290 shares of the company's stock after buying an additional 59,723 shares during the period. Cibc World Market Inc.'s holdings in Kenvue were worth $12,839,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position 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 purchasing an additional 1,604,040 shares during the period. Geode Capital Management LLC increased its position 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 worth $856,778,000 after buying an additional 371,322 shares during the period. Norges Bank bought a new position in Kenvue during the fourth quarter worth $756,862,000. American Century Companies Inc. raised its stake in Kenvue by 22.4% during the third quarter. American Century Companies Inc. now owns 37,046,660 shares of the company's stock worth $601,267,000 after buying an additional 6,781,640 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in Kenvue by 13.5% in the third quarter. Dimensional Fund Advisors LP now owns 23,127,234 shares of the company's stock valued at $375,377,000 after buying an additional 2,747,952 shares during the period. 97.64% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Kenvue

In related news, General Counsel Matthew Orlando sold 38,491 shares of the company's stock in a transaction on Friday, May 8th. The stock was sold at an average price of $17.66, for a total value of $679,751.06. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.59% of the stock is owned by corporate insiders.

Kenvue Stock Up 4.9%

Shares of NYSE:KVUE opened at $17.72 on Friday. The company has a current ratio of 0.98, a quick ratio of 0.70 and a debt-to-equity ratio of 0.67. Kenvue Inc. has a 12-month low of $14.02 and a 12-month high of $22.87. The stock's 50-day moving average price is $17.37 and its 200-day moving average price is $17.48. The stock has a market capitalization of $34.01 billion, a P/E ratio of 20.84, a price-to-earnings-growth ratio of 1.28 and a beta of 0.54.

Kenvue (NYSE:KVUE - Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.32 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.27 by $0.05. Kenvue had a net margin of 10.61% and a return on equity of 20.81%. The firm had revenue of $3.91 billion for the quarter, compared to analysts' expectations of $3.84 billion. During the same quarter in the previous year, the company earned $0.24 earnings per share. The company's revenue for the quarter was up 4.5% compared to the same quarter last year. On average, equities analysts anticipate that Kenvue Inc. will post 1.16 earnings per share for the current year.

Kenvue Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 27th. Shareholders of record on Wednesday, May 13th were issued a dividend of $0.2075 per share. The ex-dividend date was Wednesday, May 13th. This represents a $0.83 dividend on an annualized basis and a dividend yield of 4.7%. Kenvue's dividend payout ratio is 97.65%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on KVUE. Canaccord Genuity Group boosted their price objective on Kenvue from $17.00 to $18.00 and gave the company a "hold" rating in a research note on Wednesday, February 18th. Zacks Research raised shares of Kenvue from a "hold" rating to a "strong-buy" rating in a research report on Friday, May 8th. Weiss Ratings downgraded shares of Kenvue from a "hold (c)" rating to a "hold (c-)" rating in a research report on Friday, May 29th. Argus raised shares of Kenvue to a "hold" rating in a research report on Friday, March 6th. Finally, Citigroup lowered their price objective on shares of Kenvue from $20.00 to $19.00 and set a "neutral" rating on the stock in a report on Wednesday, April 15th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and twelve have issued a Hold rating to the stock. According to MarketBeat, Kenvue has a consensus rating of "Hold" and a consensus price target of $19.33.

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.

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