Great Lakes Advisors LLC acquired a new stake in shares of Kenvue Inc. (NYSE:KVUE - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 184,231 shares of the company's stock, valued at approximately $3,521,000.
Several other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of Kenvue by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 234,951,484 shares of the company's stock valued at $4,052,913,000 after purchasing an additional 1,604,040 shares during the last quarter. BlackRock Inc. bought a new stake in Kenvue in the second quarter worth $2,882,279,000. State Street Corp boosted its stake in Kenvue by 3.5% during the fourth quarter. State Street Corp now owns 118,865,134 shares of the company's stock worth $2,050,424,000 after buying an additional 4,063,257 shares during the period. Geode Capital Management LLC increased its position in Kenvue by 0.8% during the fourth quarter. Geode Capital Management LLC now owns 49,862,574 shares of the company's stock valued at $856,778,000 after acquiring an additional 371,322 shares during the last quarter. Finally, Independent Franchise Partners LLP increased its position in Kenvue by 56.3% during the fourth quarter. Independent Franchise Partners LLP now owns 48,146,476 shares of the company's stock valued at $830,527,000 after acquiring an additional 17,343,785 shares during the last quarter. 97.64% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently issued reports on KVUE shares. Barclays raised their target price on shares of Kenvue from $18.00 to $19.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 21st. Weiss Ratings upgraded shares of Kenvue from a "hold (c-)" rating to a "hold (c)" rating in a report on Monday, June 15th. UBS Group decreased their price objective on shares of Kenvue from $20.00 to $19.00 and set a "neutral" rating for the company in a research note on Tuesday, August 11th. Zacks Research cut shares of Kenvue from a "strong-buy" rating to a "hold" rating in a report on Tuesday, July 7th. Finally, Wall Street Zen downgraded Kenvue from a "buy" rating to a "hold" rating in a report on Saturday, August 8th. Three investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $19.27.
Check Out Our Latest Analysis on Kenvue
Kenvue Stock Performance
Shares of Kenvue stock opened at $18.92 on Friday. The company has a market capitalization of $36.34 billion, a PE ratio of 21.75, a P/E/G ratio of 1.37 and a beta of 0.47. The company has a 50-day simple moving average of $19.04 and a two-hundred day simple moving average of $18.19. Kenvue Inc. has a one year low of $14.02 and a one year high of $21.78. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.71 and a current ratio of 1.01.
Kenvue (NYSE:KVUE - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.31 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.32 by ($0.01). The firm had revenue of $3.96 billion during the quarter, compared to analysts' expectations of $3.97 billion. Kenvue had a return on equity of 21.22% and a net margin of 10.76%.The firm's quarterly revenue was up 3.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.29 EPS. Research analysts expect that Kenvue Inc. will post 1.14 EPS for the current fiscal year.
Kenvue Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 26th. Investors of record on Wednesday, August 12th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 4.4%. This is a positive change from Kenvue's previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Wednesday, August 12th. Kenvue's dividend payout ratio is presently 96.55%.
About Kenvue
(
Free Report)
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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