Kenvue Inc. (NYSE:KVUE) Holdings Raised by Resona Asset Management Co. Ltd.

Key Points

• Resona Asset Management Co. Ltd. increased its holdings in Kenvue Inc. by 12.8% in the first quarter, owning a total of 717,073 shares valued at approximately $17.14 million.
• Kenvue reported $0.29 EPS for the last quarter, surpassing estimates by $0.01, although its annual revenue fell by 4.0%.
• The company announced a quarterly dividend increase to $0.2075 per share, representing a 3.8% yield, with a payout ratio of 110.81%.

Resona Asset Management Co. Ltd. increased its stake in shares of Kenvue Inc. (NYSE:KVUE - Free Report) by 12.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 717,073 shares of the company's stock after purchasing an additional 81,300 shares during the quarter. Resona Asset Management Co. Ltd.'s holdings in Kenvue were worth $17,144,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in KVUE. Pittenger & Anderson Inc. acquired a new stake in Kenvue in the 1st quarter worth about $30,000. TruNorth Capital Management LLC acquired a new position in shares of Kenvue in the 1st quarter valued at about $36,000. Bank Julius Baer & Co. Ltd Zurich lifted its stake in shares of Kenvue by 120.6% in the 1st quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,699 shares of the company's stock valued at $41,000 after purchasing an additional 929 shares in the last quarter. Clarity Asset Management Inc. acquired a new position in shares of Kenvue in the 4th quarter valued at about $45,000. Finally, Continuum Advisory LLC lifted its stake in shares of Kenvue by 2,071.1% in the 1st quarter. Continuum Advisory LLC now owns 1,954 shares of the company's stock valued at $47,000 after purchasing an additional 1,864 shares in the last quarter. Hedge funds and other institutional investors own 97.64% of the company's stock.

Kenvue Stock Down 3.0%

KVUE stock traded down $0.66 during midday trading on Thursday, hitting $21.06. 14,760,615 shares of the company's stock were exchanged, compared to its average volume of 18,421,518. The company has a current ratio of 0.98, a quick ratio of 0.68 and a debt-to-equity ratio of 0.66. Kenvue Inc. has a 12-month low of $19.75 and a 12-month high of $25.17. The firm has a 50 day moving average price of $21.55 and a 200-day moving average price of $22.42. The stock has a market capitalization of $40.41 billion, a price-to-earnings ratio of 28.45, a price-to-earnings-growth ratio of 3.12 and a beta of 0.83.

Kenvue (NYSE:KVUE - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.01. Kenvue had a return on equity of 20.06% and a net margin of 9.37%. The company had revenue of $3.84 billion for the quarter, compared to the consensus estimate of $3.94 billion. During the same period in the previous year, the business earned $0.32 EPS. Kenvue's revenue for the quarter was down 4.0% compared to the same quarter last year. On average, analysts anticipate that Kenvue Inc. will post 1.14 EPS for the current year.

Kenvue Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 27th. Shareholders of record on Wednesday, August 13th will be issued a dividend of $0.2075 per share. The ex-dividend date is Wednesday, August 13th. This represents a $0.83 annualized dividend and a yield of 3.9%. This is a boost from Kenvue's previous quarterly dividend of $0.21. Kenvue's dividend payout ratio (DPR) is presently 112.16%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on KVUE shares. UBS Group reduced their price objective on Kenvue from $25.00 to $23.00 and set a "neutral" rating on the stock in a research note on Thursday, July 17th. Citigroup reduced their price objective on Kenvue from $24.50 to $22.00 and set a "neutral" rating on the stock in a research note on Tuesday, July 15th. Royal Bank Of Canada reduced their price objective on Kenvue from $24.00 to $22.00 and set a "sector perform" rating on the stock in a research note on Friday, August 8th. Bank of America reduced their price target on Kenvue from $27.00 to $25.00 and set a "buy" rating on the stock in a research report on Tuesday, July 15th. Finally, Barclays reduced their price target on Kenvue from $23.00 to $22.00 and set an "equal weight" rating on the stock in a research report on Tuesday, July 15th. Seven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Kenvue has a consensus rating of "Hold" and a consensus price target of $24.38.

About Kenvue

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.