Man Group plc Invests $80.46 Million in Kenvue Inc. $KVUE

Man Group plc bought a new stake in shares of Kenvue Inc. (NYSE:KVUE - Free Report) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 4,210,418 shares of the company's stock, valued at approximately $80,461,000. Man Group plc owned about 0.22% of Kenvue at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the stock. BlackRock Inc. bought a new stake in shares of Kenvue in the 2nd quarter worth approximately $2,882,279,000. Norges Bank bought a new stake in shares of Kenvue during the fourth quarter valued at approximately $756,862,000. Independent Franchise Partners LLP increased its position in shares of Kenvue by 56.3% during the fourth quarter. Independent Franchise Partners LLP now owns 48,146,476 shares of the company's stock valued at $830,527,000 after purchasing an additional 17,343,785 shares during the period. Legal & General Group Plc acquired a new position in shares of Kenvue in the second quarter valued at $253,393,000. Finally, Sculptor Capital LP raised its stake in shares of Kenvue by 1,023.5% in the fourth quarter. Sculptor Capital LP now owns 12,886,328 shares of the company's stock valued at $222,289,000 after purchasing an additional 11,739,328 shares in the last quarter. 97.64% of the stock is owned by institutional investors.

Kenvue Price Performance

Shares of KVUE stock opened at $19.34 on Wednesday. The stock's fifty day simple moving average is $19.10 and its 200 day simple moving average is $18.22. Kenvue Inc. has a one year low of $14.02 and a one year high of $21.40. The firm has a market cap of $37.16 billion, a price-to-earnings ratio of 22.24, a P/E/G ratio of 1.39 and a beta of 0.47. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.01 and a quick ratio of 0.71.

Kenvue (NYSE:KVUE - Get Free Report) last released 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). The company had revenue of $3.96 billion for the quarter, compared to analyst estimates of $3.97 billion. Kenvue had a return on equity of 21.22% and a net margin of 10.76%.The business's revenue was up 3.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.29 earnings per share. On average, analysts expect that Kenvue Inc. will post 1.14 earnings per share for the current fiscal year.

Kenvue Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Wednesday, August 12th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 4.3%. The ex-dividend date of this dividend is Wednesday, August 12th. This is a positive change from Kenvue's previous quarterly dividend of $0.21. Kenvue's payout ratio is currently 96.55%.

Analysts Set New Price Targets

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

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.

Want to see what other hedge funds are holding KVUE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Kenvue Inc. (NYSE:KVUE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source