Kenvue Inc. $KVUE Shares Acquired by BNP PARIBAS ASSET MANAGEMENT Holding S.A.

Key Points

• BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in Kenvue Inc. by 514% in the first quarter, holding 842,812 shares valued at approximately $20.21 million.
• Kenvue declared a quarterly dividend of $0.2075 per share, representing an annualized rate of $0.83 and a yield of 3.9%, indicating an increase from the previous dividend of $0.21.
• The company's earnings report showed a net margin of 9.37%, with earnings per share of $0.29, slightly exceeding analysts' estimates despite a 4% year-over-year revenue decline.

BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in Kenvue Inc. (NYSE:KVUE - Free Report) by 514.0% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 842,812 shares of the company's stock after buying an additional 705,538 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A.'s holdings in Kenvue were worth $20,210,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. Pittenger & Anderson Inc. bought a new position in shares of Kenvue in the first quarter valued at approximately $30,000. TruNorth Capital Management LLC bought a new position in Kenvue during the 1st quarter valued at $36,000. Clal Insurance Enterprises Holdings Ltd increased its position in shares of Kenvue by 378.5% during the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,627 shares of the company's stock valued at $39,000 after purchasing an additional 1,287 shares during the period. Bank Julius Baer & Co. Ltd Zurich raised its stake in shares of Kenvue by 120.6% in the 1st quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,699 shares of the company's stock worth $41,000 after buying an additional 929 shares in the last quarter. Finally, Clarity Asset Management Inc. acquired a new stake in shares of Kenvue in the fourth quarter valued at $45,000. Institutional investors and hedge funds own 97.64% of the company's stock.

Kenvue Stock Up 0.4%

Shares of NYSE:KVUE opened at $21.15 on Monday. The firm has a 50 day simple moving average of $21.54 and a 200 day simple moving average of $22.43. Kenvue Inc. has a 52 week low of $19.75 and a 52 week high of $25.17. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.68 and a current ratio of 0.98. The company has a market cap of $40.59 billion, a PE ratio of 28.58, a price-to-earnings-growth ratio of 3.05 and a beta of 0.83.

Kenvue (NYSE:KVUE - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported $0.29 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.28 by $0.01. Kenvue had a return on equity of 20.06% and a net margin of 9.37%. The company had revenue of $3.84 billion during the quarter, compared to analyst estimates of $3.94 billion. During the same quarter in the prior year, the company earned $0.32 earnings per share. The company's revenue for the quarter was down 4.0% on a year-over-year basis. As a group, research analysts expect that Kenvue Inc. will post 1.14 earnings per share for the current year.

Kenvue Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 27th. Stockholders of record on Wednesday, August 13th will be given a $0.2075 dividend. This represents a $0.83 dividend on an annualized basis and a dividend yield of 3.9%. This is a positive change from Kenvue's previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Wednesday, August 13th. Kenvue's payout ratio is currently 112.16%.

Wall Street Analyst Weigh In

KVUE has been the topic of a number of research analyst reports. JPMorgan Chase & Co. lowered their target price on Kenvue from $27.00 to $26.00 and set an "overweight" rating on the stock in a report on Friday, July 25th. Canaccord Genuity Group lowered their price objective on shares of Kenvue from $29.00 to $26.00 and set a "buy" rating on the stock in a research note on Friday, August 8th. Royal Bank Of Canada dropped their target price on shares of Kenvue from $24.00 to $22.00 and set a "sector perform" rating on the stock in a report on Friday, August 8th. Citigroup cut their target price on shares of Kenvue from $24.50 to $22.00 and set a "neutral" rating for the company in a research note on Tuesday, July 15th. Finally, Bank of America decreased their price target on shares of Kenvue from $27.00 to $25.00 and set a "buy" rating on the stock in a research report on Tuesday, July 15th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $24.38.

About Kenvue

Kenvue Inc operates as a consumer health company worldwide. The company operates through three segments: Self Care, Skin Health and Beauty, and Essential Health. The Self Care segment offers cough, cold and allergy, pain care, digestive health, smoking cessation, eye care, and other products under the Tylenol, Motrin, Benadryl, Nicorette, Zarbee's, ORSLTM, Rhinocort, Calpol, and Zyrtec brands.

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