Empowered Funds LLC Buys Shares of 203,609 Kenvue Inc. $KVUE

Key Points

• Empowered Funds LLC acquired 203,609 Kenvue shares worth approximately $3.9 million in the second quarter. Institutional investors collectively own 97.64% of the company.
• Analysts remain cautious, with three Buy ratings and twelve Hold ratings. Kenvue has an average rating of Hold and an average price target of $19.27.
• Kenvue reported quarterly revenue of $3.96 billion, up 3% year over year, but narrowly missed earnings expectations with EPS of $0.31 versus $0.32 forecast. The company pays a quarterly dividend of $0.21, representing a 4.5% yield.

Empowered Funds LLC bought a new position in Kenvue Inc. (NYSE:KVUE - Free Report) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 203,609 shares of the company's stock, valued at approximately $3,891,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. United Capital Financial Advisors LLC purchased a new position in shares of Kenvue during the second quarter valued at $924,000. Jefferies Financial Group Inc. purchased a new stake in Kenvue in the second quarter worth about $26,755,000. Public Employees Retirement System of Ohio bought a new position in Kenvue during the 2nd quarter worth about $10,328,000. One68 Global Capital LLC bought a new position in Kenvue during the 2nd quarter worth about $283,000. Finally, Stonehage Fleming Financial Services Holdings Ltd purchased a new position in Kenvue during the 2nd quarter valued at about $82,000. Institutional investors own 97.64% of the company's stock.

Analysts Set New Price Targets

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

Kenvue Price Performance

NYSE KVUE opened at $18.77 on Wednesday. The firm's fifty day simple moving average is $19.19 and its two-hundred day simple moving average is $18.25. The firm has a market capitalization of $36.05 billion, a P/E ratio of 21.57, a P/E/G ratio of 1.35 and a beta of 0.46. The company has a current ratio of 1.01, a quick ratio of 0.71 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 $20.82.

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 the consensus estimate of $0.32 by ($0.01). Kenvue had a net margin of 10.76% and a return on equity of 21.22%. The business had revenue of $3.96 billion for the quarter, compared to analysts' expectations of $3.97 billion. During the same quarter in the prior year, the company posted $0.29 EPS. The business's revenue for the quarter was up 3.0% on a year-over-year basis. Analysts forecast that Kenvue Inc. will post 1.14 EPS for the current fiscal year.

Kenvue Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 26th. Shareholders of record on Wednesday, August 12th were issued a $0.21 dividend. This is a boost from Kenvue's previous quarterly dividend of $0.21. This represents a $0.84 annualized dividend and a yield of 4.5%. The ex-dividend date of this dividend was Wednesday, August 12th. Kenvue's dividend payout ratio is 96.55%.

Kenvue Company 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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