Magnetar Financial LLC Purchases Shares of 5,263,903 Kenvue Inc. $KVUE

Key Points

• Magnetar Financial LLC opened a new position in Kenvue, buying 5,263,903 shares valued at about $90.8 million, making KVUE its 9th largest holding.
• Kenvue’s stock was trading around $18.44, with a market cap of $35.4 billion; the company also pays a quarterly dividend yielding about 4.5%.
• The company recently beat earnings expectations, reporting $0.32 EPS on $3.91 billion in revenue, while analysts currently rate the stock a Hold on consensus with a price target of $19.33.

Magnetar Financial LLC purchased a new position in shares of Kenvue Inc. (NYSE:KVUE - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 5,263,903 shares of the company's stock, valued at approximately $90,802,000. Kenvue makes up 0.9% of Magnetar Financial LLC's holdings, making the stock its 9th largest holding. Magnetar Financial LLC owned approximately 0.27% of Kenvue as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of KVUE. Aberdeen Group plc increased its holdings in Kenvue by 84.1% during the 3rd quarter. Aberdeen Group plc now owns 1,411,380 shares of the company's stock worth $22,914,000 after purchasing an additional 644,930 shares in the last quarter. Oak Thistle LLC bought a new position in shares of Kenvue in the fourth quarter valued at approximately $1,563,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Kenvue by 25.8% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 410,874 shares of the company's stock valued at $7,088,000 after purchasing an additional 84,219 shares in the last quarter. SG Americas Securities LLC boosted its position in shares of Kenvue by 3,889.9% during the fourth quarter. SG Americas Securities LLC now owns 3,075,723 shares of the company's stock valued at $53,056,000 after buying an additional 2,998,635 shares during the last quarter. Finally, ICICI Prudential Asset Management Co Ltd boosted its position in shares of Kenvue by 137.9% during the third quarter. ICICI Prudential Asset Management Co Ltd now owns 452,060 shares of the company's stock valued at $7,337,000 after buying an additional 262,000 shares during the last quarter. Institutional investors own 97.64% of the company's stock.

Kenvue Stock Performance

Shares of KVUE opened at $18.44 on Wednesday. The stock has a 50 day moving average of $17.48 and a 200 day moving average of $17.56. The company has a market capitalization of $35.40 billion, a price-to-earnings ratio of 21.69, a PEG ratio of 1.38 and a beta of 0.54. 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 data 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 business had revenue of $3.91 billion for 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 business's revenue was up 4.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.24 earnings per share. As a group, sell-side analysts forecast that Kenvue Inc. will post 1.16 earnings per share for the current year.

Kenvue Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 27th. Stockholders of record on Wednesday, May 13th were paid a dividend of $0.2075 per share. This represents a $0.83 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date was Wednesday, May 13th. Kenvue's payout ratio is presently 97.65%.

Analyst Upgrades and Downgrades

KVUE has been the subject of a number of analyst reports. Weiss Ratings raised Kenvue from a "hold (c-)" rating to a "hold (c)" rating in a research report on Monday. Barclays cut their price objective on shares of Kenvue from $19.00 to $18.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 14th. Canaccord Genuity Group upped their target price on shares of Kenvue from $17.00 to $18.00 and gave the stock a "hold" rating in a research note on Wednesday, February 18th. Argus upgraded shares of Kenvue to a "hold" rating in a report on Friday, March 6th. Finally, Zacks Research raised shares of Kenvue from a "hold" rating to a "strong-buy" rating in a research report on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and twelve have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $19.33.

Insider Buying and Selling at Kenvue

In related news, General Counsel Matthew Orlando sold 38,491 shares of the business's stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $17.66, for a total value of $679,751.06. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.59% of the company's stock.

About Kenvue

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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