Kenvue Inc. $KVUE Shares Acquired by American Assets Investment Management LLC

Key Points

• American Assets Investment Management doubled its Kenvue stake in the fourth quarter, buying 100,000 more shares to bring its total to 200,000 shares valued at about $3.45 million.
• Kenvue’s latest quarterly results topped expectations, with EPS of $0.32 versus the $0.27 estimate and revenue of $3.91 billion beating forecasts, while sales rose 4.5% year over year.
• The company also declared a quarterly dividend of $0.2075 per share payable May 27, implying a 4.7% yield; meanwhile, analysts maintain a Hold consensus with a $19.33 price target.

American Assets Investment Management LLC grew its stake in Kenvue Inc. (NYSE:KVUE - Free Report) by 100.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 200,000 shares of the company's stock after acquiring an additional 100,000 shares during the quarter. American Assets Investment Management LLC's holdings in Kenvue were worth $3,450,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of KVUE. Van ECK Associates Corp increased its stake in shares of Kenvue by 101.3% in the 3rd quarter. Van ECK Associates Corp now owns 18,361,581 shares of the company's stock worth $298,008,000 after acquiring an additional 9,240,434 shares during the last quarter. American Century Companies Inc. increased its stake in shares of Kenvue by 22.4% in the 3rd quarter. American Century Companies Inc. now owns 37,046,660 shares of the company's stock worth $601,267,000 after acquiring an additional 6,781,640 shares during the last quarter. Mondrian Investment Partners LTD acquired a new stake in shares of Kenvue in the 3rd quarter worth $79,269,000. Alliancebernstein L.P. increased its stake in shares of Kenvue by 115.9% in the 2nd quarter. Alliancebernstein L.P. now owns 6,438,473 shares of the company's stock worth $134,757,000 after acquiring an additional 3,456,204 shares during the last quarter. Finally, Amundi increased its stake in shares of Kenvue by 21.6% in the 3rd quarter. Amundi now owns 17,645,761 shares of the company's stock worth $277,012,000 after acquiring an additional 3,135,871 shares during the last quarter. 97.64% of the stock is owned by institutional investors and hedge funds.

Kenvue Stock Performance

Shares of KVUE opened at $17.59 on Friday. The stock has a 50-day simple moving average of $17.65 and a 200-day simple moving average of $17.24. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.68 and a current ratio of 0.96. The stock has a market capitalization of $33.76 billion, a PE ratio of 20.69, a PEG ratio of 4.02 and a beta of 0.55. Kenvue Inc. has a 1 year low of $14.02 and a 1 year high of $24.61.

Kenvue (NYSE:KVUE - Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.05. The business had revenue of $3.91 billion during the quarter, compared to analysts' expectations of $3.84 billion. Kenvue had a return on equity of 20.76% and a net margin of 10.61%.The business's quarterly revenue was up 4.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.24 EPS. On average, analysts predict that Kenvue Inc. will post 1.1 earnings per share for the current fiscal year.

Kenvue Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 27th. Investors of record on Wednesday, May 13th will be paid a dividend of $0.2075 per share. The ex-dividend date is Wednesday, May 13th. This represents a $0.83 annualized dividend and a yield of 4.7%. Kenvue's payout ratio is presently 107.79%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Canaccord Genuity Group raised their price objective on Kenvue from $17.00 to $18.00 and gave the stock a "hold" rating in a research report on Wednesday, February 18th. Argus raised Kenvue to a "hold" rating in a research report on Friday, March 6th. Barclays cut their price objective on Kenvue from $19.00 to $18.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 14th. UBS Group cut their price objective on Kenvue from $19.00 to $18.00 and set a "neutral" rating for the company in a research report on Tuesday, April 7th. Finally, Jefferies Financial Group downgraded Kenvue from a "buy" rating to a "hold" rating and cut their price objective for the stock from $23.00 to $18.00 in a research report on Friday, January 30th. Three analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus 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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