Concentric Capital Strategies LP Acquires Shares of 155,390 Kenvue Inc. $KVUE

Key Points

• Concentric Capital Strategies LP purchased a new stake in Kenvue Inc. during the first quarter, acquiring 155,390 shares valued at approximately $3.7 million.
• Kenvue recently reported earnings of $0.29 per share, exceeding analysts' expectations, but its revenue decreased by 4% year-over-year.
• The firm increased its quarterly dividend to $0.2075 per share, representing an annual yield of 4.1%, though the payout ratio stands at over 112%.

Concentric Capital Strategies LP acquired a new stake in shares of Kenvue Inc. (NYSE:KVUE - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 155,390 shares of the company's stock, valued at approximately $3,726,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in KVUE. Starboard Value LP purchased a new stake in Kenvue in the fourth quarter valued at about $467,864,000. Vanguard Group Inc. raised its stake in Kenvue by 4.9% in the first quarter. Vanguard Group Inc. now owns 229,144,387 shares of the company's stock valued at $5,494,882,000 after buying an additional 10,600,682 shares during the last quarter. Maverick Capital Ltd. purchased a new stake in Kenvue in the first quarter valued at about $203,036,000. Nuveen LLC purchased a new stake in Kenvue in the first quarter valued at about $187,123,000. Finally, Independent Franchise Partners LLP raised its stake in Kenvue by 159.3% in the first quarter. Independent Franchise Partners LLP now owns 9,379,037 shares of the company's stock valued at $224,909,000 after buying an additional 5,761,288 shares during the last quarter. 97.64% of the stock is currently owned by hedge funds and other institutional investors.

Kenvue Stock Performance

KVUE stock traded up $0.43 during trading on Tuesday, hitting $18.86. 18,980,243 shares of the company traded hands, compared to its average volume of 18,166,871. The stock's 50-day simple moving average is $21.32 and its 200 day simple moving average is $22.35. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.98 and a quick ratio of 0.68. The company has a market cap of $36.18 billion, a PE ratio of 25.49, a P/E/G ratio of 2.67 and a beta of 0.83. Kenvue Inc. has a 1 year low of $17.15 and a 1 year high of $25.17.

Kenvue (NYSE:KVUE - Get Free Report) last announced its quarterly 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 during the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same period last year, the business earned $0.32 earnings per share. Kenvue has set its FY 2025 guidance at 1.000-1.050 EPS. On average, equities analysts expect that Kenvue Inc. will post 1.14 earnings per share for the current fiscal year.

Kenvue Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 27th. Investors of record on Wednesday, August 13th were given a dividend of $0.2075 per share. This is an increase from Kenvue's previous quarterly dividend of $0.21. This represents a $0.83 annualized dividend and a yield of 4.4%. The ex-dividend date was Wednesday, August 13th. Kenvue's dividend payout ratio (DPR) is 112.16%.

Analysts Set New Price Targets

A number of equities research analysts have commented on KVUE shares. Royal Bank Of Canada decreased their price target on Kenvue from $24.00 to $22.00 and set a "sector perform" rating for the company in a research note on Friday, August 8th. Canaccord Genuity Group reduced their price objective on Kenvue from $29.00 to $26.00 and set a "buy" rating for the company in a research note on Friday, August 8th. Evercore ISI reduced their price objective on Kenvue from $25.00 to $23.00 and set an "in-line" rating for the company in a research note on Monday. Bank of America reduced their price objective on Kenvue from $27.00 to $25.00 and set a "buy" rating for the company in a research note on Tuesday, July 15th. Finally, Zacks Research upgraded Kenvue to a "strong sell" rating in a research note on Monday, August 11th. Five investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Kenvue presently has a consensus rating of "Hold" and a consensus target price of $24.21.

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.