Hsbc Holdings PLC Has $88.23 Million Stock Position in Kenvue Inc. $KVUE

Key Points

• HSBC Holdings PLC increased its Kenvue stake by 31.8% in the fourth quarter, ending with 5.1 million shares valued at about $88.2 million.
• Kenvue reported better-than-expected Q1 earnings, posting $0.32 EPS versus the $0.27 estimate and revenue of $3.91 billion, up 4.5% year over year.
• The company declared a quarterly dividend of $0.2075 per share, implying an annualized yield of about 4.2%, while analysts currently rate the stock a consensus Hold.

Hsbc Holdings PLC raised its stake in Kenvue Inc. (NYSE:KVUE - Free Report) by 31.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,106,368 shares of the company's stock after acquiring an additional 1,230,957 shares during the quarter. Hsbc Holdings PLC owned about 0.27% of Kenvue worth $88,231,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in Kenvue by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 234,951,484 shares of the company's stock worth $4,052,913,000 after purchasing an additional 1,604,040 shares during the last quarter. State Street Corp grew its holdings in Kenvue by 3.5% in the 4th quarter. State Street Corp now owns 118,865,134 shares of the company's stock valued at $2,050,424,000 after buying an additional 4,063,257 shares in the last quarter. Geode Capital Management LLC grew its holdings in Kenvue by 0.8% in the 4th quarter. Geode Capital Management LLC now owns 49,862,574 shares of the company's stock valued at $856,778,000 after buying an additional 371,322 shares in the last quarter. Independent Franchise Partners LLP grew its holdings in Kenvue by 56.3% in the 4th quarter. Independent Franchise Partners LLP now owns 48,146,476 shares of the company's stock valued at $830,527,000 after buying an additional 17,343,785 shares in the last quarter. Finally, Norges Bank bought a new position in Kenvue during the 4th quarter worth $756,862,000. 97.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, General Counsel Matthew Orlando sold 38,491 shares of the business's stock in a transaction that occurred 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.59% of the stock is currently owned by corporate insiders.

Kenvue Price Performance

Shares of NYSE KVUE opened at $19.81 on Friday. The stock has a market capitalization of $38.03 billion, a PE ratio of 23.30, a P/E/G ratio of 1.50 and a beta of 0.47. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.98 and a quick ratio of 0.70. The business has a fifty day moving average price of $17.86 and a two-hundred day moving average price of $17.71. Kenvue Inc. has a fifty-two week low of $14.02 and a fifty-two week high of $22.87.

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

Kenvue Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 27th. Shareholders of record on Wednesday, May 13th were issued a $0.2075 dividend. This represents a $0.83 annualized dividend and a yield of 4.2%. The ex-dividend date of this dividend was Wednesday, May 13th. Kenvue's dividend payout ratio (DPR) is currently 97.65%.

Analyst Ratings Changes

A number of research firms have recently weighed in on KVUE. UBS Group dropped their target price on Kenvue from $19.00 to $18.00 and set a "neutral" rating for the company in a report on Tuesday, April 7th. Weiss Ratings upgraded shares of Kenvue from a "hold (c-)" rating to a "hold (c)" rating in a research note on Monday, June 15th. Zacks Research raised shares of Kenvue from a "hold" rating to a "strong-buy" rating in a research report on Friday, May 8th. Barclays dropped 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 note on Tuesday, April 14th. Finally, Citigroup cut their price objective on shares of Kenvue from $20.00 to $19.00 and set a "neutral" rating for the company in a report on Wednesday, April 15th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and twelve have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $19.33.

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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