KBC Group NV Increases Holdings in Kenvue Inc. $KVUE

Key Points

• KBC Group NV nearly doubled its stake in Kenvue during the first quarter, boosting holdings by 98.3% to 977,811 shares worth about $16.9 million.
• Kenvue reported better-than-expected quarterly results, posting EPS of $0.32 versus estimates of $0.27 and revenue of $3.91 billion, up 4.5% year over year.
• The company continues to offer a sizable dividend, with a quarterly payout of $0.2075 per share, annualized yield of 4.4%, though the payout ratio is high at 97.65%.

KBC Group NV grew its stake in Kenvue Inc. (NYSE:KVUE - Free Report) by 98.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 977,811 shares of the company's stock after acquiring an additional 484,695 shares during the quarter. KBC Group NV owned 0.05% of Kenvue worth $16,858,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Arrowstreet Capital Limited Partnership bought a new position in Kenvue in the 2nd quarter worth about $6,528,000. Jump Financial LLC raised its holdings in Kenvue by 210.6% in the second quarter. Jump Financial LLC now owns 54,823 shares of the company's stock worth $1,147,000 after buying an additional 37,170 shares during the last quarter. AXA S.A. lifted its stake in shares of Kenvue by 21.1% in the second quarter. AXA S.A. now owns 48,892 shares of the company's stock worth $1,023,000 after buying an additional 8,524 shares in the last quarter. NewEdge Advisors LLC lifted its stake in shares of Kenvue by 219.1% in the second quarter. NewEdge Advisors LLC now owns 97,481 shares of the company's stock worth $2,040,000 after buying an additional 66,930 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of Kenvue by 0.6% during the second quarter. The Manufacturers Life Insurance Company now owns 1,873,705 shares of the company's stock valued at $39,217,000 after buying an additional 10,885 shares during the last quarter. 97.64% of the stock is owned by hedge funds and other institutional investors.

Kenvue Stock Performance

KVUE opened at $18.98 on Wednesday. The firm has a market cap of $36.43 billion, a P/E ratio of 22.32, a PEG ratio of 1.44 and a beta of 0.47. Kenvue Inc. has a 1-year low of $14.02 and a 1-year high of $22.87. The company has a 50 day simple moving average of $18.26 and a two-hundred day simple moving average of $17.88. 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 (NYSE:KVUE - Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.27 by $0.05. Kenvue had a net margin of 10.61% and a return on equity of 20.81%. The firm had revenue of $3.91 billion for the quarter, compared to the consensus estimate of $3.84 billion. During the same period last year, the firm earned $0.24 EPS. The company's revenue was up 4.5% on a year-over-year basis. Equities analysts forecast that Kenvue Inc. will post 1.16 earnings per share for the current fiscal year.

Kenvue Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 27th. Shareholders of record on Wednesday, May 13th were issued 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 yield of 4.4%. Kenvue's dividend payout ratio (DPR) is currently 97.65%.

Insider Activity at Kenvue

In other news, General Counsel Matthew Orlando sold 38,491 shares of the business's stock in a transaction dated 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 filing with the SEC, which can be accessed through this hyperlink. 1.59% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. 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 increased their target price on Kenvue from $18.00 to $20.00 and gave the company a "neutral" rating in a research note on Thursday, July 16th. Citigroup reduced their target price on Kenvue from $20.00 to $19.00 and set a "neutral" rating for the company in a report on Wednesday, April 15th. Zacks Research cut shares of Kenvue from a "strong-buy" rating to a "hold" rating in a report on Tuesday, July 7th. Finally, Barclays increased their target price on Kenvue from $18.00 to $19.00 and gave the company an "equal weight" rating in a report on Tuesday. Three equities research analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $19.58.

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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