Eventide Asset Management LLC Purchases Shares of 17,655 Kenvue Inc. $KVUE

Key Points

• Eventide Asset Management LLC acquired a new position in Kenvue Inc. with 17,655 shares valued at approximately $418,000 during the first quarter.
• Kenvue's stock received mixed ratings from analysts, with five analysts giving it a Buy rating and one assigning it a Sell rating, leading to a consensus price target of $24.38.
• The company recently increased its quarterly dividend to $0.2075, reflecting a boost from the previous dividend, with an annualized yield of 4.0%.

Eventide Asset Management LLC purchased a new position in shares of Kenvue Inc. (NYSE:KVUE - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 17,655 shares of the company's stock, valued at approximately $418,000.

Several other large investors have also bought and sold shares of KVUE. Pittenger & Anderson Inc. purchased a new position in Kenvue during the 1st quarter worth $30,000. TruNorth Capital Management LLC bought a new position in shares of Kenvue during the first quarter valued at about $36,000. Truvestments Capital LLC purchased a new position in Kenvue during the first quarter worth about $37,000. Clal Insurance Enterprises Holdings Ltd grew its position in Kenvue by 378.5% in the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,627 shares of the company's stock worth $39,000 after purchasing an additional 1,287 shares in the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich increased its stake in Kenvue by 120.6% in the 1st quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,699 shares of the company's stock valued at $41,000 after buying an additional 929 shares during the last quarter. 97.64% of the stock is currently owned by institutional investors.

Kenvue Price Performance

Kenvue stock traded up $0.47 during midday trading on Tuesday, hitting $18.90. 38,149,324 shares of the company's stock were exchanged, compared to its average volume of 18,284,326. The stock has a 50-day moving average price of $21.32 and a two-hundred day moving average price of $22.35. The company has a market cap of $36.27 billion, a P/E ratio of 25.54, a PEG ratio of 2.67 and a beta of 0.83. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.68 and a current ratio of 0.98. Kenvue Inc. has a 52-week low of $17.15 and a 52-week high of $25.17.

Kenvue (NYSE:KVUE - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported $0.29 earnings per share for the quarter, beating analysts' consensus estimates of $0.28 by $0.01. The company had revenue of $3.84 billion for 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 revenue for the quarter was down 4.0% compared to the same quarter last year. During the same period last year, the firm posted $0.32 EPS. Kenvue has set its FY 2025 guidance at 1.000-1.050 EPS. On average, equities research analysts forecast that Kenvue Inc. will post 1.14 earnings per share for the current 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 paid a $0.2075 dividend. This represents a $0.83 annualized dividend and a dividend yield of 4.4%. The ex-dividend date was Wednesday, August 13th. This is an increase from Kenvue's previous quarterly dividend of $0.21. Kenvue's dividend payout ratio (DPR) is currently 112.16%.

Wall Street Analysts Forecast Growth

KVUE has been the topic of a number of research analyst reports. Barclays cut their target price on Kenvue from $23.00 to $22.00 and set an "equal weight" rating on the stock in a research note on Tuesday, July 15th. Evercore ISI dropped their price target on Kenvue from $25.00 to $23.00 and set an "in-line" rating on the stock in a report on Monday. Royal Bank Of Canada lowered their target price on Kenvue from $24.00 to $22.00 and set a "sector perform" rating on the stock in a research note on Friday, August 8th. Zacks Research upgraded shares of Kenvue to a "strong sell" rating in a research report on Monday, August 11th. Finally, Citigroup decreased their price objective on shares of Kenvue from $24.50 to $22.00 and set a "neutral" rating for the company in a report on Tuesday, July 15th. Five investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $24.21.

Kenvue Profile

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.