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

Key Points

• GABELLI & Co. increased its Kenvue stake by 77.3% in the first quarter, buying an additional 323,650 shares and bringing its total to 742,600 shares valued at about $12.8 million.
• Kenvue reported better-than-expected quarterly results, posting EPS of $0.32 versus $0.27 expected and revenue of $3.91 billion, up 4.5% year over year.
• Analysts currently have a mixed view on the stock: the consensus rating is Hold with a consensus price target of $19.58, while Kenvue also pays a quarterly dividend yielding about 4.3%.

GABELLI & Co INVESTMENT ADVISERS INC. grew its holdings in Kenvue Inc. (NYSE:KVUE - Free Report) by 77.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 742,600 shares of the company's stock after buying an additional 323,650 shares during the quarter. Kenvue comprises 1.9% of GABELLI & Co INVESTMENT ADVISERS INC.'s investment portfolio, making the stock its 15th biggest holding. GABELLI & Co INVESTMENT ADVISERS INC.'s holdings in Kenvue were worth $12,802,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Physician Wealth Advisors Inc. raised its position in Kenvue by 67.5% in the fourth quarter. Physician Wealth Advisors Inc. now owns 1,533 shares of the company's stock worth $26,000 after acquiring an additional 618 shares in the last quarter. Elyxium Wealth LLC acquired a new stake in Kenvue in the fourth quarter valued at $26,000. MV Capital Management Inc. acquired a new stake in Kenvue in the fourth quarter valued at $28,000. Reflection Asset Management purchased a new stake in shares of Kenvue during the 4th quarter worth $32,000. Finally, SBI Securities Co. Ltd. boosted its position in shares of Kenvue by 82.4% during the 4th quarter. SBI Securities Co. Ltd. now owns 2,273 shares of the company's stock worth $39,000 after purchasing an additional 1,027 shares in the last quarter. 97.64% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, General Counsel Matthew Orlando sold 38,491 shares of Kenvue stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $17.66, for a total transaction of $679,751.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.59% of the company's stock.

Wall Street Analysts Forecast Growth

KVUE has been the subject of a number of research analyst reports. Zacks Research downgraded 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 stock an "equal weight" rating in a research report on Tuesday. Wall Street Zen raised shares of Kenvue to a "buy" rating in a report on Sunday, July 12th. UBS Group lifted their price target on shares of Kenvue from $18.00 to $20.00 and gave the company a "neutral" rating in a research report on Thursday, July 16th. Finally, Citigroup decreased their price target on Kenvue from $20.00 to $19.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 15th. Three equities research analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the company. According to MarketBeat, Kenvue currently has a consensus rating of "Hold" and a consensus target price of $19.58.

Kenvue Price Performance

KVUE stock opened at $19.25 on Friday. The stock's 50 day moving average price is $18.38 and its 200 day moving average price is $17.92. The firm has a market cap of $36.97 billion, a P/E ratio of 22.65, a PEG ratio of 1.43 and a beta of 0.47. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.70 and a current ratio of 0.98. Kenvue Inc. has a 1 year low of $14.02 and a 1 year high of $22.87.

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

Kenvue Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 27th. Investors of record on Wednesday, May 13th were paid a dividend of $0.2075 per share. The ex-dividend date of this dividend was Wednesday, May 13th. This represents a $0.83 dividend on an annualized basis and a dividend yield of 4.3%. Kenvue's dividend payout ratio (DPR) is presently 97.65%.

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.

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