Kenvue Inc. $KVUE Stock Position Increased by Mirae Asset Global Investments Co. Ltd.

Key Points

• Mirae Asset Global Investments increased its stake in Kenvue by 25.8% to 410,874 shares (about $7.09M), and institutional investors now own roughly 97.64% of the company.
• Kenvue beat quarterly estimates with $0.27 EPS (vs. $0.22) and $3.78B revenue (vs. $3.68B), and declared a quarterly dividend of $0.2075 (annualized yield ~4.7%) despite a payout ratio near 107.8%.
• Analysts have a consensus "Hold" rating with an average price target of $19.33 while the stock trades around $17.58, reflecting a market cap near $33.8B and a P/E of ~22.8.

Mirae Asset Global Investments Co. Ltd. lifted its position in Kenvue Inc. (NYSE:KVUE - Free Report) by 25.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 410,874 shares of the company's stock after buying an additional 84,219 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Kenvue were worth $7,088,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of KVUE. Cornerstone Planning Group LLC grew its stake in shares of Kenvue by 705.2% in the 3rd quarter. Cornerstone Planning Group LLC now owns 1,554 shares of the company's stock worth $25,000 after purchasing an additional 1,361 shares during the last quarter. NBT Bank N A NY grew its stake in shares of Kenvue by 180.3% in the 3rd quarter. NBT Bank N A NY now owns 1,564 shares of the company's stock worth $25,000 after purchasing an additional 1,006 shares during the last quarter. Salomon & Ludwin LLC acquired a new position in shares of Kenvue in the 3rd quarter worth approximately $25,000. Golden State Wealth Management LLC grew its stake in shares of Kenvue by 150.1% in the 3rd quarter. Golden State Wealth Management LLC now owns 1,983 shares of the company's stock worth $32,000 after purchasing an additional 1,190 shares during the last quarter. Finally, Trust Co. of Vermont grew its stake in shares of Kenvue by 50.9% in the 3rd quarter. Trust Co. of Vermont now owns 2,385 shares of the company's stock worth $39,000 after purchasing an additional 804 shares during the last quarter. Institutional investors own 97.64% of the company's stock.

Kenvue Stock Down 0.1%

NYSE:KVUE opened at $17.58 on Tuesday. The firm has a market capitalization of $33.76 billion, a price-to-earnings ratio of 22.84, a PEG ratio of 4.00 and a beta of 0.61. Kenvue Inc. has a 1-year low of $14.02 and a 1-year high of $25.17. The company has a current ratio of 0.96, a quick ratio of 0.68 and a debt-to-equity ratio of 0.66. The business's fifty day moving average price is $17.91 and its 200 day moving average price is $17.12.

Kenvue (NYSE:KVUE - Get Free Report) last posted its quarterly earnings results on Tuesday, February 17th. The company reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.05. The firm had revenue of $3.78 billion for the quarter, compared to analyst estimates of $3.68 billion. Kenvue had a return on equity of 19.72% and a net margin of 9.72%.Kenvue's quarterly revenue was up 3.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.26 earnings per share. On average, sell-side analysts forecast that Kenvue Inc. will post 1.1 earnings per share for the current fiscal year.

Kenvue Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 25th. Stockholders of record on Wednesday, February 11th were issued a dividend of $0.2075 per share. The ex-dividend date was Wednesday, February 11th. This represents a $0.83 annualized dividend and a dividend yield of 4.7%. Kenvue's payout ratio is presently 107.79%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on KVUE shares. Argus raised Kenvue to a "hold" rating in a research report on Friday, March 6th. Citigroup cut their target price on Kenvue from $20.00 to $19.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 15th. Jefferies Financial Group lowered Kenvue from a "buy" rating to a "hold" rating and cut their target price for the stock from $23.00 to $18.00 in a research report on Friday, January 30th. UBS Group cut their target price on Kenvue from $19.00 to $18.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 7th. Finally, Canaccord Genuity Group boosted their target price on Kenvue from $17.00 to $18.00 and gave the stock a "hold" rating in a research report on Wednesday, February 18th. Three equities research analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $19.33.

Kenvue Company 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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