Alliancebernstein L.P. Buys 395,785 Shares of Kenvue Inc. $KVUE

Key Points

• Alliancebernstein L.P. has increased its stake in Kenvue Inc. by 15.3% during the first quarter, owning a total of 2,982,269 shares valued at approximately $71.5 million as of the latest SEC filing.
• Kenvue recently announced a quarterly dividend of $0.2075, marking a boost from the previous $0.21, with a current dividend yield of 4.5%.
• The company's stock has experienced a significant drop of 9.3%, trading at $18.64 and facing a mixed range of analyst ratings, including five 'Buy', seven 'Hold', and one 'Sell'.

Alliancebernstein L.P. raised its stake in shares of Kenvue Inc. (NYSE:KVUE - Free Report) by 15.3% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,982,269 shares of the company's stock after buying an additional 395,785 shares during the quarter. Alliancebernstein L.P. owned about 0.16% of Kenvue worth $71,515,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in Kenvue by 4.9% during the 1st quarter. Vanguard Group Inc. now owns 229,144,387 shares of the company's stock valued at $5,494,882,000 after buying an additional 10,600,682 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Kenvue by 2.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 25,606,238 shares of the company's stock valued at $613,882,000 after buying an additional 633,461 shares in the last quarter. Boston Partners grew its holdings in Kenvue by 7.4% during the 1st quarter. Boston Partners now owns 25,346,453 shares of the company's stock valued at $606,920,000 after buying an additional 1,750,490 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Kenvue by 11.6% during the first quarter. JPMorgan Chase & Co. now owns 24,912,226 shares of the company's stock worth $597,395,000 after purchasing an additional 2,597,920 shares in the last quarter. Finally, Starboard Value LP purchased a new stake in Kenvue in the fourth quarter valued at approximately $467,864,000. Hedge funds and other institutional investors own 97.64% of the company's stock.

Kenvue Trading Up 2.6%

KVUE stock traded up $0.47 on Tuesday, reaching $18.90. The company's stock had a trading volume of 39,516,199 shares, compared to its average volume of 21,148,226. The business has a fifty day simple moving average of $21.28 and a two-hundred day simple moving average of $22.33. Kenvue Inc. has a 12-month low of $17.15 and a 12-month high of $25.17. The firm has a market cap of $36.27 billion, a PE ratio of 25.54, a PEG ratio of 2.65 and a beta of 0.83. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.68 and a current ratio of 0.98.

Kenvue (NYSE:KVUE - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.28 by $0.01. The business had revenue of $3.84 billion during the quarter, compared to analyst estimates of $3.94 billion. Kenvue had a return on equity of 20.06% and a net margin of 9.37%.The company's revenue for the quarter was down 4.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.32 earnings per share. Kenvue has set its FY 2025 guidance at 1.000-1.050 EPS. As a group, research analysts forecast that Kenvue Inc. will post 1.14 EPS for the current year.

Kenvue Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 27th. Shareholders of record on Wednesday, August 13th were given a dividend of $0.2075 per share. This is an increase from Kenvue's previous quarterly dividend of $0.21. This represents a $0.83 annualized dividend and a yield of 4.4%. The ex-dividend date of this dividend was Wednesday, August 13th. Kenvue's payout ratio is 112.16%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Bank of America lowered their target price on shares of Kenvue from $27.00 to $25.00 and set a "buy" rating on the stock in a research note on Tuesday, July 15th. Citigroup decreased their price objective on Kenvue from $24.50 to $22.00 and set a "neutral" rating on the stock in a report on Tuesday, July 15th. Royal Bank Of Canada cut their target price on Kenvue from $24.00 to $22.00 and set a "sector perform" rating for the company in a research note on Friday, August 8th. Evercore ISI cut their target price on Kenvue from $25.00 to $23.00 and set an "in-line" rating for the company in a research note on Monday. Finally, JPMorgan Chase & Co. cut their target price on Kenvue from $27.00 to $26.00 and set an "overweight" rating for the company in a research note on Friday, July 25th. Five research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $24.21.

Kenvue Profile

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.