Cibc World Market Inc. Takes Position in Kenvue Inc. $KVUE

Key Points

• CIBC World Market acquired 375,688 Kenvue shares worth approximately $7.18 million during the second quarter. Institutional investors collectively own 97.64% of KVUE.
• Kenvue reported quarterly revenue of $3.96 billion and adjusted earnings of $0.31 per share, slightly below analyst expectations, while revenue increased 3% year over year.
• The company’s quarterly dividend is $0.21 per share, equivalent to an annualized $0.84 payout and a 4.3% yield. Analysts remain cautious, with an average “Hold” rating and a $19.27 price target.

Cibc World Market Inc. purchased a new stake in shares of Kenvue Inc. (NYSE:KVUE - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 375,688 shares of the company's stock, valued at approximately $7,179,000.

Other large investors have also recently added to or reduced their stakes in the company. Johnson Financial Group Inc. bought a new stake in Kenvue during the second quarter worth approximately $26,000. CoreCap Advisors LLC increased its holdings in shares of Kenvue by 64.9% in the second quarter. CoreCap Advisors LLC now owns 1,502 shares of the company's stock valued at $29,000 after buying an additional 591 shares in the last quarter. Elyxium Wealth LLC bought a new position in shares of Kenvue in the fourth quarter valued at $26,000. Physician Wealth Advisors Inc. lifted its position in shares of Kenvue by 67.5% during the 4th quarter. Physician Wealth Advisors Inc. now owns 1,533 shares of the company's stock valued at $26,000 after acquiring an additional 618 shares during the last quarter. Finally, MV Capital Management Inc. acquired a new stake in shares of Kenvue during the 4th quarter valued at $28,000. 97.64% of the stock is currently owned by institutional investors.

Kenvue Price Performance

NYSE KVUE opened at $19.34 on Wednesday. The company has a quick ratio of 0.71, a current ratio of 1.01 and a debt-to-equity ratio of 0.67. The stock has a market capitalization of $37.16 billion, a PE ratio of 22.24, a price-to-earnings-growth ratio of 1.39 and a beta of 0.47. Kenvue Inc. has a 12-month low of $14.02 and a 12-month high of $21.40. The company has a 50 day moving average price of $19.10 and a two-hundred day moving average price of $18.22.

Kenvue (NYSE:KVUE - Get Free Report) last announced 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 for 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 business's revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.29 EPS. As a group, equities analysts predict that Kenvue Inc. will post 1.14 earnings per share for the current fiscal year.

Kenvue Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 26th. Investors of record on Wednesday, August 12th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date is Wednesday, August 12th. This is a boost from Kenvue's previous quarterly dividend of $0.21. Kenvue's dividend payout ratio (DPR) is 96.55%.

Analyst Ratings Changes

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