ICICI Prudential Asset Management Co Ltd Acquires 116,500 Shares of Kenvue Inc. $KVUE

Key Points

• ICICI Prudential Asset Management increased its Kenvue stake by 25.8% in the fourth quarter, buying 116,500 shares and bringing its total holding to 568,560 shares valued at about $9.81 million.
• Kenvue reported better-than-expected quarterly results, with EPS of $0.32 versus $0.27 expected and revenue of $3.91 billion, up 4.5% year over year.
• The company continues to return cash to shareholders, having paid a quarterly dividend of $0.2075, which annualizes to $0.83 per share and implies a 4.6% yield.

ICICI Prudential Asset Management Co Ltd grew its holdings in shares of Kenvue Inc. (NYSE:KVUE - Free Report) by 25.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 568,560 shares of the company's stock after acquiring an additional 116,500 shares during the quarter. Kenvue comprises 1.1% of ICICI Prudential Asset Management Co Ltd's investment portfolio, making the stock its 18th largest position. ICICI Prudential Asset Management Co Ltd's holdings in Kenvue were worth $9,808,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Physician Wealth Advisors Inc. boosted its holdings 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. Versor Investments LP boosted its holdings in Kenvue by 2.8% in the third quarter. Versor Investments LP now owns 26,016 shares of the company's stock worth $422,000 after acquiring an additional 716 shares in the last quarter. Philip James Wealth Mangement LLC boosted its holdings in Kenvue by 5.5% in the fourth quarter. Philip James Wealth Mangement LLC now owns 13,888 shares of the company's stock worth $240,000 after acquiring an additional 726 shares in the last quarter. IFG Advisory LLC boosted its holdings in Kenvue by 5.4% in the fourth quarter. IFG Advisory LLC now owns 15,051 shares of the company's stock worth $260,000 after acquiring an additional 766 shares in the last quarter. Finally, Phoenix Financial Ltd. boosted its holdings in Kenvue by 5.4% in the fourth quarter. Phoenix Financial Ltd. now owns 15,195 shares of the company's stock worth $262,000 after acquiring an additional 783 shares in the last quarter. Institutional investors own 97.64% of the company's stock.

Insider Activity at Kenvue

In related news, General Counsel Matthew Orlando sold 38,491 shares of Kenvue stock in a transaction on Friday, May 8th. The stock was 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 Securities & Exchange Commission, which is accessible through this hyperlink. 1.59% of the stock is owned by insiders.

Kenvue Stock Performance

Shares of KVUE opened at $18.08 on Friday. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.98 and a quick ratio of 0.70. Kenvue Inc. has a one year low of $14.02 and a one year high of $22.87. The firm has a market capitalization of $34.70 billion, a P/E ratio of 21.26, a PEG ratio of 1.37 and a beta of 0.54. The business has a fifty day moving average of $17.41 and a 200 day moving average of $17.53.

Kenvue (NYSE:KVUE - Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.32 EPS 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 analyst estimates of $3.84 billion. During the same quarter in the previous year, the company posted $0.24 earnings per share. Kenvue's revenue was up 4.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Kenvue Inc. will post 1.16 EPS for the current year.

Kenvue Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 27th. Investors of record on Wednesday, May 13th were issued a $0.2075 dividend. The ex-dividend date of this dividend was Wednesday, May 13th. This represents a $0.83 annualized dividend and a dividend yield of 4.6%. Kenvue's payout ratio is presently 97.65%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on KVUE shares. Argus upgraded Kenvue to a "hold" rating in a research note on Friday, March 6th. Citigroup decreased their price target on Kenvue from $20.00 to $19.00 and set a "neutral" rating for the company in a research note on Wednesday, April 15th. UBS Group decreased their price target on Kenvue from $19.00 to $18.00 and set a "neutral" rating for the company in a research note on Tuesday, April 7th. Zacks Research upgraded Kenvue from a "hold" rating to a "strong-buy" rating in a research note on Friday, May 8th. Finally, Weiss Ratings cut Kenvue from a "hold (c)" rating to a "hold (c-)" rating in a research note on Friday, May 29th. One investment 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 company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target 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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