GABELLI & Co INVESTMENT ADVISERS INC. Purchases New Holdings in Kenvue Inc. $KVUE

Key Points

• GABELLI & Co Investment Advisers opened a new position in Kenvue during the fourth quarter, buying 418,950 shares worth about $7.2 million. The stake makes Kenvue its 24th-largest holding and about 1.1% of its portfolio.
• Kenvue reported better-than-expected first-quarter earnings, with EPS of $0.32 versus estimates of $0.27 and revenue of $3.91 billion versus $3.84 billion expected. Revenue rose 4.5% year over year.
• The company also announced a quarterly dividend of $0.2075 per share, or $0.83 annually, implying a yield of about 4.9%. Meanwhile, analysts remain cautious overall, with a consensus rating of Hold and an average target price of $19.33.

GABELLI & Co INVESTMENT ADVISERS INC. purchased a new stake in shares of Kenvue Inc. (NYSE:KVUE - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 418,950 shares of the company's stock, valued at approximately $7,227,000. Kenvue accounts for approximately 1.1% of GABELLI & Co INVESTMENT ADVISERS INC.'s portfolio, making the stock its 24th largest position.

Other large investors also recently bought and sold shares of the company. Allstate Corp purchased a new stake in shares of Kenvue in the 3rd quarter valued at approximately $1,152,000. Aberdeen Group plc boosted its position in shares of Kenvue by 84.1% during the 3rd quarter. Aberdeen Group plc now owns 1,411,380 shares of the company's stock worth $22,914,000 after purchasing an additional 644,930 shares during the period. Oak Thistle LLC purchased a new position in shares of Kenvue during the 4th quarter worth approximately $1,563,000. Eubel Brady & Suttman Asset Management Inc. boosted its position in shares of Kenvue by 39.7% during the 3rd quarter. Eubel Brady & Suttman Asset Management Inc. now owns 1,371,886 shares of the company's stock worth $22,266,000 after purchasing an additional 389,704 shares during the period. Finally, Vest Financial LLC boosted its position in shares of Kenvue by 4.7% during the 3rd quarter. Vest Financial LLC now owns 2,436,986 shares of the company's stock worth $39,552,000 after purchasing an additional 108,480 shares during the period. 97.64% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Kenvue

In other news, General Counsel Matthew Orlando sold 38,491 shares of the firm's stock in a transaction on Friday, May 8th. The shares were sold at an average price of $17.66, for a total value of $679,751.06. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 1.59% of the company's stock.

Kenvue Price Performance

Kenvue stock opened at $17.09 on Monday. The firm has a market cap of $32.81 billion, a PE ratio of 20.10, a price-to-earnings-growth ratio of 1.30 and a beta of 0.55. Kenvue Inc. has a 52-week low of $14.02 and a 52-week high of $24.35. The company has a quick ratio of 0.70, a current ratio of 0.98 and a debt-to-equity ratio of 0.67. The company's 50 day moving average is $17.48 and its two-hundred day moving average is $17.33.

Kenvue (NYSE:KVUE - Get Free Report) last released its earnings results on Thursday, May 7th. The company reported $0.32 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.27 by $0.05. The company had revenue of $3.91 billion for the quarter, compared to analyst estimates of $3.84 billion. Kenvue had a net margin of 10.61% and a return on equity of 20.81%. The firm's quarterly revenue was up 4.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.24 EPS. On average, research analysts expect that Kenvue Inc. will post 1.16 EPS for the current fiscal year.

Kenvue Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 27th. Stockholders of record on Wednesday, May 13th will be issued a $0.2075 dividend. This represents a $0.83 dividend on an annualized basis and a dividend yield of 4.9%. The ex-dividend date is Wednesday, May 13th. Kenvue's dividend payout ratio (DPR) is presently 97.65%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on KVUE shares. Barclays lowered their price objective on shares of Kenvue from $19.00 to $18.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 14th. Zacks Research raised shares of Kenvue from a "hold" rating to a "strong-buy" rating in a research report on Friday, May 8th. Jefferies Financial Group cut shares of Kenvue from a "buy" rating to a "hold" rating and lowered their price objective for the stock from $23.00 to $18.00 in a research report on Friday, January 30th. Argus raised shares of Kenvue to a "hold" rating in a research report on Friday, March 6th. Finally, Weiss Ratings raised shares of Kenvue from a "hold (c-)" rating to a "hold (c)" rating in a research report on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and twelve have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $19.33.

About Kenvue

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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