Kenvue Inc. $KVUE Shares Acquired by Equity Investment Corp

Key Points

• Equity Investment Corp boosted its Kenvue stake by 32.1% in the fourth quarter, buying 1.66 million additional shares and bringing its holdings to 6.82 million shares worth about $117.7 million.
• Kenvue reported stronger-than-expected first-quarter results, posting EPS of $0.32 versus estimates of $0.27 and revenue of $3.91 billion versus $3.84 billion expected, with revenue up 4.5% year over year.
• The company continues to pay a sizable dividend, with a quarterly payout of $0.2075 per share and an annualized yield of 4.6%, though its payout ratio is high at 97.65%.

Equity Investment Corp increased its stake in Kenvue Inc. (NYSE:KVUE - Free Report) by 32.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 6,820,350 shares of the company's stock after buying an additional 1,655,417 shares during the quarter. Kenvue comprises 2.4% of Equity Investment Corp's portfolio, making the stock its 13th largest position. Equity Investment Corp owned about 0.36% of Kenvue worth $117,651,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the stock. Physician Wealth Advisors Inc. raised its stake in Kenvue by 67.5% during the 4th quarter. Physician Wealth Advisors Inc. now owns 1,533 shares of the company's stock valued at $26,000 after acquiring an additional 618 shares in the last quarter. Versor Investments LP raised its stake in Kenvue by 2.8% during the 3rd quarter. Versor Investments LP now owns 26,016 shares of the company's stock valued at $422,000 after acquiring an additional 716 shares in the last quarter. Philip James Wealth Mangement LLC raised its stake in Kenvue by 5.5% during the 4th quarter. Philip James Wealth Mangement LLC now owns 13,888 shares of the company's stock valued at $240,000 after acquiring an additional 726 shares in the last quarter. IFG Advisory LLC raised its stake in Kenvue by 5.4% during the 4th quarter. IFG Advisory LLC now owns 15,051 shares of the company's stock valued at $260,000 after acquiring an additional 766 shares in the last quarter. Finally, Phoenix Financial Ltd. raised its stake in Kenvue by 5.4% during the 4th quarter. Phoenix Financial Ltd. now owns 15,195 shares of the company's stock valued at $262,000 after acquiring an additional 783 shares in the last quarter. Institutional investors and hedge funds own 97.64% of the company's stock.

Insider Activity

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 legal filing with the SEC, which is available through this hyperlink. 1.59% of the stock is owned by insiders.

Kenvue Stock Performance

Shares of NYSE KVUE opened at $18.08 on Friday. The company has a quick ratio of 0.70, a current ratio of 0.98 and a debt-to-equity ratio of 0.67. The stock has a market capitalization of $34.70 billion, a price-to-earnings ratio of 21.26, a PEG ratio of 1.37 and a beta of 0.54. The stock's fifty day simple moving average is $17.41 and its 200 day simple moving average is $17.53. Kenvue Inc. has a 52-week low of $14.02 and a 52-week high of $22.87.

Kenvue (NYSE:KVUE - Get Free Report) last issued its earnings results on Thursday, May 7th. The company reported $0.32 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.27 by $0.05. The business had revenue of $3.91 billion for the quarter, compared to analysts' expectations of $3.84 billion. Kenvue had a return on equity of 20.81% and a net margin of 10.61%.The company's quarterly revenue was up 4.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.24 EPS. As a group, sell-side analysts forecast that Kenvue Inc. will post 1.16 earnings per share for the current fiscal year.

Kenvue Dividend Announcement

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

Analyst Ratings Changes

Several equities analysts have recently issued reports on KVUE shares. Argus upgraded Kenvue to a "hold" rating in a research report on Friday, March 6th. UBS Group lowered their price target on Kenvue from $19.00 to $18.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 7th. Zacks Research upgraded Kenvue from a "hold" rating to a "strong-buy" rating in a research report on Friday, May 8th. Canaccord Genuity Group lifted their price target on Kenvue from $17.00 to $18.00 and gave the company a "hold" rating in a research report on Wednesday, February 18th. Finally, Barclays lowered their price target on Kenvue from $19.00 to $18.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 14th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and twelve have assigned a Hold rating to the company. Based on data from MarketBeat, Kenvue presently has a consensus rating of "Hold" and a consensus target price of $19.33.

Kenvue Profile

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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