Danske Bank A S Purchases New Holdings in Kenvue Inc. $KVUE

Key Points

• Danske Bank initiated a sizable Kenvue position in the second quarter, purchasing 1.2 million shares valued at approximately $22.9 million, representing about 0.06% of the company.
• Analyst sentiment remains cautious: Kenvue has a consensus “Hold” rating from MarketBeat-tracked analysts, with an average price target of $19.27.
• Kenvue’s latest quarter modestly missed expectations, reporting $0.31 in adjusted EPS and $3.96 billion in revenue, while revenue still grew 3% year over year. The company declared a quarterly dividend of $0.21 per share, equivalent to a 4.4% yield.

Danske Bank A S acquired a new position in shares of Kenvue Inc. (NYSE:KVUE - Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund acquired 1,199,267 shares of the company's stock, valued at approximately $22,918,000. Danske Bank A S owned about 0.06% of Kenvue as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. CoreCap Advisors LLC grew its position 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 buying an additional 591 shares in the last quarter. Montag A & Associates Inc. raised its holdings in Kenvue by 6.3% in the first quarter. Montag A & Associates Inc. now owns 10,156 shares of the company's stock valued at $175,000 after acquiring an additional 600 shares in the last quarter. Cornerstone Wealth Group LLC raised its holdings in Kenvue by 5.9% in the first quarter. Cornerstone Wealth Group LLC now owns 10,810 shares of the company's stock valued at $187,000 after acquiring an additional 606 shares in the last quarter. Physician Wealth Advisors Inc. raised its holdings in Kenvue by 67.5% in the fourth 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 in the last quarter. Finally, Mill Creek Capital Advisors LLC boosted its stake in Kenvue by 0.6% during the 4th quarter. Mill Creek Capital Advisors LLC now owns 124,213 shares of the company's stock valued at $2,143,000 after acquiring an additional 701 shares during the last quarter. 97.64% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

KVUE has been the subject of several recent analyst reports. Zacks Research lowered shares of Kenvue from a "strong-buy" rating to a "hold" rating in a report on Tuesday, July 7th. Barclays upped their target price on shares of Kenvue from $18.00 to $19.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 21st. Weiss Ratings upgraded Kenvue from a "hold (c-)" rating to a "hold (c)" rating in a research note on Monday, June 15th. UBS Group lowered their price objective on Kenvue from $20.00 to $19.00 and set a "neutral" rating for the company in a report on Tuesday, August 11th. Finally, Wall Street Zen cut Kenvue from a "buy" rating to a "hold" rating in a research note on Saturday, August 8th. Three equities research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $19.27.

Kenvue Trading Down 1.1%

Shares of NYSE KVUE opened at $18.92 on Friday. Kenvue Inc. has a 12-month low of $14.02 and a 12-month high of $21.78. The company has a market cap of $36.34 billion, a price-to-earnings ratio of 21.75, a price-to-earnings-growth ratio of 1.37 and a beta of 0.47. The company has a current ratio of 1.01, a quick ratio of 0.71 and a debt-to-equity ratio of 0.67. The stock's 50 day simple moving average is $19.04 and its 200 day simple moving average is $18.19.

Kenvue (NYSE:KVUE - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.31 EPS for the quarter, missing analysts' consensus estimates of $0.32 by ($0.01). Kenvue had a return on equity of 21.22% and a net margin of 10.76%.The company had revenue of $3.96 billion for the quarter, compared to the consensus estimate of $3.97 billion. During the same quarter in the previous year, the company earned $0.29 earnings per share. Kenvue's quarterly revenue was up 3.0% compared to the same quarter last year. Equities research analysts expect that Kenvue Inc. will post 1.14 EPS for the current year.

Kenvue Increases Dividend

The company also recently declared 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 is an increase from Kenvue's previous quarterly dividend of $0.21. This represents a $0.84 annualized dividend and a dividend yield of 4.4%. The ex-dividend date is Wednesday, August 12th. Kenvue's payout ratio is currently 96.55%.

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.

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