Daiichi Life Insurance Co. Ltd. bought a new stake in Kenvue Inc. (NYSE:KVUE - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 58,194 shares of the company's stock, valued at approximately $1,112,000.
A number of other hedge funds have also recently made changes to their positions in KVUE. CoreCap Advisors LLC grew its holdings in shares of Kenvue by 64.9% during the second quarter. CoreCap Advisors LLC now owns 1,502 shares of the company's stock worth $29,000 after purchasing an additional 591 shares during the last quarter. Montag A & Associates Inc. raised its holdings in Kenvue by 6.3% in the 1st quarter. Montag A & Associates Inc. now owns 10,156 shares of the company's stock valued at $175,000 after buying an additional 600 shares during the last quarter. Cornerstone Wealth Group LLC raised its holdings in Kenvue by 5.9% in the 1st quarter. Cornerstone Wealth Group LLC now owns 10,810 shares of the company's stock valued at $187,000 after buying an additional 606 shares during the last quarter. Physician Wealth Advisors Inc. boosted its position in Kenvue by 67.5% during the 4th quarter. Physician Wealth Advisors Inc. now owns 1,533 shares of the company's stock worth $26,000 after buying an additional 618 shares during the period. Finally, Mill Creek Capital Advisors LLC boosted its position in Kenvue by 0.6% during the 4th quarter. Mill Creek Capital Advisors LLC now owns 124,213 shares of the company's stock worth $2,143,000 after buying an additional 701 shares during the period. 97.64% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of research firms have weighed in on KVUE. Wall Street Zen lowered shares of Kenvue from a "buy" rating to a "hold" rating in a report on Saturday, August 8th. Weiss Ratings upgraded shares of Kenvue from a "hold (c-)" rating to a "hold (c)" rating in a report on Monday, June 15th. Zacks Research lowered shares of Kenvue from a "strong-buy" rating to a "hold" rating in a report on Tuesday, July 7th. UBS Group reduced their price objective on shares of Kenvue from $20.00 to $19.00 and set a "neutral" rating on the stock in a research note on Tuesday, August 11th. Finally, Barclays increased their price objective on Kenvue from $18.00 to $19.00 and gave the company an "equal weight" rating in a report on Tuesday, July 21st. Three analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. According to data from MarketBeat, Kenvue has an average rating of "Hold" and a consensus price target of $19.27.
Read Our Latest Stock Report on Kenvue
Kenvue Stock Performance
Shares of KVUE stock opened at $19.41 on Tuesday. The business's 50 day simple moving average is $19.08 and its 200 day simple moving average is $18.21. Kenvue Inc. has a one year low of $14.02 and a one year high of $21.63. The stock has a market capitalization of $37.27 billion, a PE ratio of 22.30, a PEG ratio of 1.36 and a beta of 0.47. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.01 and a quick ratio of 0.71.
Kenvue (NYSE:KVUE - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.01). The firm had revenue of $3.96 billion for the quarter, compared to the consensus estimate of $3.97 billion. Kenvue had a return on equity of 21.22% and a net margin of 10.76%.The firm's revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.29 EPS. As a group, research analysts forecast that Kenvue Inc. will post 1.14 earnings per share for the current year.
Kenvue Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Wednesday, August 12th will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 4.3%. This is a boost from Kenvue's previous quarterly dividend of $0.21. The ex-dividend date is Wednesday, August 12th. Kenvue's dividend payout ratio is currently 96.55%.
Kenvue Profile
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Free Report)
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.
Further Reading
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