Kenvue Inc. $KVUE Shares Bought by Bank of America Corp DE

Key Points

• Bank of America increased its Kenvue stake by 9.5% in the first quarter, adding 1.23 million shares to own 14.18 million shares valued at approximately $244.5 million. Institutional investors collectively own 97.64% of the company.
• Kenvue exceeded quarterly expectations, reporting adjusted EPS of $0.32 versus a $0.27 consensus estimate and revenue of $3.91 billion, up 4.5% year over year.
• Analysts maintain a generally cautious outlook, with a consensus “Hold” rating and $19.58 price target. Kenvue pays a quarterly dividend of $0.21 per share, representing a 4.4% yield.

Bank of America Corp DE lifted its holdings in Kenvue Inc. (NYSE:KVUE - Free Report) by 9.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,184,293 shares of the company's stock after purchasing an additional 1,230,947 shares during the period. Bank of America Corp DE owned about 0.74% of Kenvue worth $244,537,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Physician Wealth Advisors Inc. boosted its holdings in Kenvue by 67.5% in the 4th quarter. Physician Wealth Advisors Inc. now owns 1,533 shares of the company's stock worth $26,000 after buying an additional 618 shares during the last quarter. Elyxium Wealth LLC acquired a new stake in shares of Kenvue during the 4th quarter worth approximately $26,000. MV Capital Management Inc. purchased a new stake in Kenvue in the fourth quarter valued at $28,000. Reflection Asset Management acquired a new position in Kenvue in the fourth quarter valued at about $32,000. Finally, SBI Securities Co. Ltd. boosted its position in shares of Kenvue by 82.4% during the 4th quarter. SBI Securities Co. Ltd. now owns 2,273 shares of the company's stock worth $39,000 after purchasing an additional 1,027 shares during the period. 97.64% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Kenvue

In other 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 filing with the Securities & Exchange Commission, which is available at this link. 1.59% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

KVUE has been the subject of several research reports. Wall Street Zen raised Kenvue to a "buy" rating in a research report on Sunday, July 12th. UBS Group upped their price objective on Kenvue from $18.00 to $20.00 and gave the stock a "neutral" rating in a research report on Thursday, July 16th. Barclays lifted their price target on shares of Kenvue from $18.00 to $19.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 21st. Weiss Ratings upgraded shares of Kenvue from a "hold (c-)" rating to a "hold (c)" rating in a research report on Monday, June 15th. Finally, Zacks Research cut Kenvue from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, July 7th. Three equities research analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company. Based on data from MarketBeat.com, Kenvue has a consensus rating of "Hold" and a consensus target price of $19.58.

Kenvue Stock Down 1.3%

Kenvue stock opened at $18.98 on Tuesday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.70 and a current ratio of 0.98. The stock's fifty day moving average is $18.62 and its two-hundred day moving average is $18.03. Kenvue Inc. has a fifty-two week low of $14.02 and a fifty-two week high of $22.28. The firm has a market capitalization of $36.45 billion, a price-to-earnings ratio of 22.34, a price-to-earnings-growth ratio of 1.46 and a beta of 0.47.

Kenvue (NYSE:KVUE - Get Free Report) last announced its quarterly earnings results 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 company had revenue of $3.91 billion for the quarter, compared to the consensus estimate of $3.84 billion. Kenvue had a net margin of 10.61% and a return on equity of 20.81%. The company's revenue for the quarter was up 4.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.24 earnings per share. Analysts predict that Kenvue Inc. will post 1.16 EPS for the current fiscal year.

Kenvue Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 26th. Investors of record on Wednesday, August 12th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Wednesday, August 12th. This is a positive change from Kenvue's previous quarterly dividend of $0.21. This represents a $0.84 annualized dividend and a dividend yield of 4.4%. Kenvue's payout ratio is currently 97.65%.

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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