Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in Kenvue Inc. (NYSE:KVUE - Free Report) by 12.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,063,360 shares of the company's stock after purchasing an additional 454,148 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.21% of Kenvue worth $97,439,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. increased its stake in Kenvue by 2.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 25,606,238 shares of the company's stock worth $613,882,000 after acquiring an additional 633,461 shares during the last quarter. ASR Vermogensbeheer N.V. acquired a new stake in Kenvue during the first quarter worth about $7,562,000. Citizens Financial Group Inc. RI increased its stake in Kenvue by 7.7% during the first quarter. Citizens Financial Group Inc. RI now owns 11,545 shares of the company's stock worth $277,000 after acquiring an additional 822 shares during the last quarter. Corbyn Investment Management Inc. MD increased its stake in Kenvue by 0.7% during the first quarter. Corbyn Investment Management Inc. MD now owns 170,007 shares of the company's stock worth $4,077,000 after acquiring an additional 1,148 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in Kenvue by 4.9% during the first quarter. Vanguard Group Inc. now owns 229,144,387 shares of the company's stock worth $5,494,882,000 after acquiring an additional 10,600,682 shares during the last quarter. 97.64% of the stock is currently owned by institutional investors and hedge funds.
Kenvue Stock Down 1.8%
NYSE KVUE traded down $0.39 during mid-day trading on Friday, reaching $21.37. 25,925,024 shares of the company's stock traded hands, compared to its average volume of 21,613,902. Kenvue Inc. has a 1-year low of $19.75 and a 1-year high of $25.17. The company has a fifty day simple moving average of $21.62 and a 200-day simple moving average of $22.41. The company has a current ratio of 0.86, a quick ratio of 0.60 and a debt-to-equity ratio of 0.63. The company has a market cap of $41.00 billion, a price-to-earnings ratio of 28.88, a P/E/G ratio of 3.58 and a beta of 0.83.
Kenvue (NYSE:KVUE - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.29 earnings per share for the quarter, beating analysts' consensus estimates of $0.28 by $0.01. Kenvue had a return on equity of 20.36% and a net margin of 9.37%. The firm had revenue of $3.84 billion during the quarter, compared to analyst estimates of $3.94 billion. During the same quarter last year, the firm earned $0.32 EPS. Kenvue's quarterly revenue was down 4.0% on a year-over-year basis. As a group, equities research analysts expect 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 paid a dividend of $0.2075 per share. This is a boost from Kenvue's previous quarterly dividend of $0.21. The ex-dividend date is Wednesday, August 13th. This represents a $0.83 dividend on an annualized basis and a yield of 3.9%. Kenvue's payout ratio is 110.81%.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently issued reports on KVUE shares. Canaccord Genuity Group lowered their target price on Kenvue from $29.00 to $26.00 and set a "buy" rating for the company in a research note on Friday. Citigroup lowered their target price on Kenvue from $24.50 to $22.00 and set a "neutral" rating for the company in a research note on Tuesday, July 15th. UBS Group lowered their target price on Kenvue from $25.00 to $23.00 and set a "neutral" rating for the company in a research note on Thursday, July 17th. Royal Bank Of Canada lowered their target price on Kenvue from $24.00 to $22.00 and set a "sector perform" rating for the company in a research note on Friday. Finally, Barclays lowered their target price on Kenvue from $23.00 to $22.00 and set an "equal weight" rating for the company in a research note on Tuesday, July 15th. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Kenvue currently has a consensus rating of "Hold" and an average target price of $24.38.
View Our Latest Stock Analysis on Kenvue
About Kenvue
(
Free Report)
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.
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