Levin Capital Strategies L.P. Raises Stake in Kenvue Inc. $KVUE

Key Points

• Levin Capital Strategies increased its Kenvue stake by 245.4% in Q1, buying 139,279 additional shares and ending the quarter with 196,036 shares valued at about $3.38 million.
• Institutional ownership in Kenvue remains very high at 97.64%, with several other large funds also adding to their positions during recent quarters.
• Kenvue reported better-than-expected Q1 results, with EPS of $0.32 and revenue of $3.91 billion, while also paying a quarterly dividend of $0.2075 for a 4.3% yield.

Levin Capital Strategies L.P. boosted its holdings in Kenvue Inc. (NYSE:KVUE - Free Report) by 245.4% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 196,036 shares of the company's stock after purchasing an additional 139,279 shares during the quarter. Levin Capital Strategies L.P.'s holdings in Kenvue were worth $3,380,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Norges Bank purchased a new stake in shares of Kenvue in the 4th quarter worth approximately $756,862,000. Independent Franchise Partners LLP increased its position in Kenvue by 56.3% during the 4th quarter. Independent Franchise Partners LLP now owns 48,146,476 shares of the company's stock valued at $830,527,000 after buying an additional 17,343,785 shares in the last quarter. Sculptor Capital LP raised its stake in Kenvue by 1,023.5% during the fourth quarter. Sculptor Capital LP now owns 12,886,328 shares of the company's stock valued at $222,289,000 after buying an additional 11,739,328 shares during the last quarter. Capitolis Liquid Global Markets LLC raised its stake in Kenvue by 1,116.8% during the fourth quarter. Capitolis Liquid Global Markets LLC now owns 10,950,999 shares of the company's stock valued at $188,905,000 after buying an additional 10,050,999 shares during the last quarter. Finally, Cibc World Markets Corp bought a new stake in Kenvue in the fourth quarter worth $162,193,000. Institutional investors own 97.64% of the company's stock.

Insiders Place Their Bets

In other Kenvue news, General Counsel Matthew Orlando sold 38,491 shares of the business's stock in a transaction dated 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.59% of the company's stock.

Wall Street Analysts Forecast Growth

KVUE has been the topic of a number of recent research reports. Barclays increased their target price on Kenvue from $18.00 to $19.00 and gave the stock an "equal weight" rating in a research note on Tuesday. Wall Street Zen upgraded shares of Kenvue to a "buy" rating in a research note on Sunday, July 12th. Zacks Research downgraded shares of Kenvue from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, July 7th. Weiss Ratings raised shares of Kenvue from a "hold (c-)" rating to a "hold (c)" rating in a research report on Monday, June 15th. Finally, Citigroup reduced their price objective on shares of Kenvue from $20.00 to $19.00 and set a "neutral" rating for the company in a research note on Wednesday, April 15th. Three research analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $19.58.

Kenvue Stock Performance

Shares of KVUE opened at $19.12 on Thursday. The company has a market cap of $36.71 billion, a price-to-earnings ratio of 22.49, a P/E/G ratio of 1.44 and a beta of 0.47. The business's fifty day simple moving average is $18.30 and its two-hundred day simple moving average is $17.90. Kenvue Inc. has a 12 month low of $14.02 and a 12 month high of $22.87. The company has a current ratio of 0.98, a quick ratio of 0.70 and a debt-to-equity ratio of 0.67.

Kenvue (NYSE:KVUE - Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.05. The firm had revenue of $3.91 billion during the quarter, compared to analysts' expectations of $3.84 billion. Kenvue had a return on equity of 20.81% and a net margin of 10.61%.The company's revenue was up 4.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.24 earnings per share. Research analysts anticipate that Kenvue Inc. will post 1.16 earnings per share for the current fiscal year.

Kenvue Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 27th. Investors of record on Wednesday, May 13th were issued a $0.2075 dividend. This represents a $0.83 annualized dividend and a yield of 4.3%. The ex-dividend date was Wednesday, May 13th. Kenvue's dividend payout ratio (DPR) is presently 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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