Kenvue Inc. $KVUE Stake Lifted by Tidal Investments LLC

Key Points

• Tidal Investments increased its Kenvue stake by 14% in the second quarter, purchasing 67,537 additional shares and bringing its holdings to 549,380 shares valued at approximately $10.5 million. Institutional investors collectively own 97.64% of Kenvue.
• Kenvue’s latest quarterly results slightly missed expectations, with EPS of $0.31 versus $0.32 forecast and revenue of $3.96 billion versus $3.97 billion expected. Revenue nevertheless grew 3% year over year.
• The company declared a quarterly dividend of $0.21 per share, or $0.84 annualized, representing a 4.7% yield. Analysts maintain a consensus “Hold” rating with an average price target of $19.27, compared with the stock’s recent price of $17.73.

Tidal Investments LLC boosted its stake in Kenvue Inc. (NYSE:KVUE - Free Report) by 14.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 549,380 shares of the company's stock after buying an additional 67,537 shares during the period. Tidal Investments LLC's holdings in Kenvue were worth $10,499,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. CoreCap Advisors LLC increased its holdings in shares of Kenvue by 64.9% in the 2nd quarter. CoreCap Advisors LLC now owns 1,502 shares of the company's stock worth $29,000 after acquiring an additional 591 shares during the period. Montag A & Associates Inc. boosted its stake in Kenvue by 6.3% during the 1st quarter. Montag A & Associates Inc. now owns 10,156 shares of the company's stock valued at $175,000 after purchasing an additional 600 shares during the period. Cornerstone Wealth Group LLC boosted its stake in Kenvue by 5.9% during the 1st quarter. Cornerstone Wealth Group LLC now owns 10,810 shares of the company's stock valued at $187,000 after purchasing an additional 606 shares during the period. Strive Financial Group LLC grew its position in Kenvue by 5.2% in the 2nd quarter. Strive Financial Group LLC now owns 12,263 shares of the company's stock worth $234,000 after purchasing an additional 609 shares during the last quarter. Finally, Mill Creek Capital Advisors LLC grew its position in Kenvue by 0.6% in the 4th quarter. Mill Creek Capital Advisors LLC now owns 124,213 shares of the company's stock worth $2,143,000 after purchasing an additional 701 shares during the last quarter. Institutional investors and hedge funds own 97.64% of the company's stock.

Kenvue Stock Down 0.3%

KVUE stock opened at $17.73 on Friday. Kenvue Inc. has a 52 week low of $14.02 and a 52 week high of $20.13. The company has a market capitalization of $34.06 billion, a price-to-earnings ratio of 20.39, a price-to-earnings-growth ratio of 1.59 and a beta of 0.46. The firm's 50-day moving average is $19.05 and its two-hundred day moving average is $18.24. The company has a current ratio of 1.01, a quick ratio of 0.71 and a debt-to-equity ratio of 0.67.

Kenvue (NYSE:KVUE - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The company reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.01). Kenvue had a net margin of 10.76% and a return on equity of 21.22%. The company had revenue of $3.96 billion during the quarter, compared to the consensus estimate of $3.97 billion. During the same quarter last year, the business earned $0.29 earnings per share. The company's revenue was up 3.0% on a year-over-year basis. On average, analysts forecast that Kenvue Inc. will post 1.14 earnings per share for the current fiscal year.

Kenvue Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders of record on Monday, September 21st will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 4.7%. The ex-dividend date of this dividend is Monday, September 21st. Kenvue's dividend payout ratio (DPR) is presently 96.55%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on KVUE shares. Zacks Research cut Kenvue from a "strong-buy" rating to a "hold" rating in a report on Tuesday, July 7th. UBS Group decreased their price objective on Kenvue from $20.00 to $19.00 and set a "neutral" rating for the company in a report on Tuesday, August 11th. Barclays raised their target price on Kenvue from $18.00 to $19.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 21st. Wall Street Zen downgraded Kenvue from a "buy" rating to a "hold" rating in a research note on Saturday, August 8th. Finally, Weiss Ratings upgraded Kenvue from a "hold (c-)" rating to a "hold (c)" rating in a research report on Monday, June 15th. Three research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $19.27.

Kenvue Company Profile

Kenvue Inc is a global consumer health company that develops, markets and sells products designed to support everyday health and personal care. Its portfolio spans over-the-counter medicines, skin health and beauty, essential health products, and baby and family care.

The company's brands include Tylenol, Motrin, Zyrtec and Benadryl in self-care; Neutrogena, Aveeno and Clean & Clear in skin health and beauty; Listerine in oral care; and Johnson's and Band-Aid in baby care and essential health.

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