Kenvue Inc. $KVUE Holdings Increased by HBK Investments L P

Key Points

• HBK Investments increased its Kenvue position by 33.3% in the second quarter, holding 28 million shares valued at approximately $535.1 million. Institutional investors collectively own 97.64% of Kenvue.
• Analyst sentiment remains cautious, with the stock carrying an average “Hold” rating and a $19.27 consensus price target. Kenvue shares recently traded at $17.84, down 0.4%.
• Kenvue’s latest quarterly results slightly missed expectations, with earnings of $0.31 per share and revenue of $3.96 billion. The company declared a quarterly dividend of $0.21 per share, equating to a 4.7% yield.

HBK Investments L P raised its position in Kenvue Inc. (NYSE:KVUE - Free Report) by 33.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 28,000,001 shares of the company's stock after purchasing an additional 7,000,000 shares during the period. Kenvue accounts for 5.2% of HBK Investments L P's investment portfolio, making the stock its 5th biggest position. HBK Investments L P owned about 1.46% of Kenvue worth $535,080,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Core Capital Management & Research inc. bought a new position in shares of Kenvue during the 2nd quarter valued at about $240,000. Tidal Investments LLC lifted its position in Kenvue by 14.0% in the 2nd quarter. Tidal Investments LLC now owns 549,380 shares of the company's stock worth $10,499,000 after buying an additional 67,537 shares during the last quarter. National Pension Service boosted its stake in Kenvue by 10.2% in the second quarter. National Pension Service now owns 3,369,149 shares of the company's stock worth $64,384,000 after buying an additional 310,824 shares in the last quarter. WINTON GROUP Ltd boosted its stake in Kenvue by 196.9% in the second quarter. WINTON GROUP Ltd now owns 49,165 shares of the company's stock worth $940,000 after buying an additional 32,605 shares in the last quarter. Finally, Cidel Asset Management Inc. grew its position in Kenvue by 12.9% during the second quarter. Cidel Asset Management Inc. now owns 18,300 shares of the company's stock valued at $350,000 after acquiring an additional 2,087 shares during the last quarter. 97.64% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. UBS Group decreased their price target on shares of Kenvue from $20.00 to $19.00 and set a "neutral" rating on the stock in a research note on Tuesday, August 11th. Wall Street Zen downgraded shares of Kenvue from a "buy" rating to a "hold" rating in a research note on Saturday, August 8th. Zacks Research lowered shares of Kenvue from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, July 7th. Barclays raised their price objective on Kenvue from $18.00 to $19.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 21st. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Kenvue in a report on Friday. Three equities research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $19.27.

Kenvue Trading Down 0.4%

Shares of Kenvue stock traded down $0.07 on Wednesday, hitting $17.84. The stock had a trading volume of 23,064,914 shares, compared to its average volume of 28,206,914. The company has a quick ratio of 0.71, a current ratio of 1.01 and a debt-to-equity ratio of 0.67. Kenvue Inc. has a one year low of $14.02 and a one year high of $20.13. The stock's 50-day simple moving average is $18.98 and its two-hundred day simple moving average is $18.22. The stock has a market cap of $34.28 billion, a price-to-earnings ratio of 20.51, a PEG ratio of 1.64 and a beta of 0.46.

Kenvue (NYSE:KVUE - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The company reported $0.31 EPS for the quarter, missing analysts' consensus estimates of $0.32 by ($0.01). The firm had revenue of $3.96 billion for the quarter, compared to the consensus estimate of $3.97 billion. Kenvue had a net margin of 10.76% and a return on equity of 21.22%. The company's quarterly revenue was up 3.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.29 earnings per share. As a group, sell-side analysts predict that Kenvue Inc. will post 1.14 EPS for the current year.

Kenvue Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Monday, September 21st will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 4.7%. The ex-dividend date of this dividend is Monday, September 21st. Kenvue's dividend payout ratio is 96.55%.

Kenvue Profile

Kenvue Inc is a global consumer health company that develops, markets and sells products designed to support everyday health and personal care. Its portfolio spans over-the-counter medicines, skin health and beauty, essential health products, and baby and family care.

The company's brands include Tylenol, Motrin, Zyrtec and Benadryl in self-care; Neutrogena, Aveeno and Clean & Clear in skin health and beauty; Listerine in oral care; and Johnson's and Band-Aid in baby care and essential health.

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