Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in Kenvue Inc. (NYSE:KVUE - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 5,028,337 shares of the company's stock, valued at approximately $96,092,000. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.26% of Kenvue at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in the stock. Arrowstreet Capital Limited Partnership bought a new position in Kenvue in the second quarter worth about $6,528,000. Jump Financial LLC grew its position in shares of Kenvue by 210.6% in the 2nd quarter. Jump Financial LLC now owns 54,823 shares of the company's stock worth $1,147,000 after buying an additional 37,170 shares during the last quarter. AXA S.A. grew its position in shares of Kenvue by 21.1% in the 2nd quarter. AXA S.A. now owns 48,892 shares of the company's stock worth $1,023,000 after buying an additional 8,524 shares during the last quarter. NewEdge Advisors LLC raised its stake in shares of Kenvue by 219.1% during the 2nd quarter. NewEdge Advisors LLC now owns 97,481 shares of the company's stock worth $2,040,000 after acquiring an additional 66,930 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in shares of Kenvue by 0.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,873,705 shares of the company's stock worth $39,217,000 after acquiring an additional 10,885 shares in the last quarter. 97.64% of the stock is currently owned by hedge funds and other institutional investors.
Kenvue Stock Performance
Shares of KVUE stock opened at $18.82 on Wednesday. The firm has a market capitalization of $36.15 billion, a price-to-earnings ratio of 21.63, a price-to-earnings-growth ratio of 1.37 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. The business has a fifty day moving average of $19.00 and a 200 day moving average of $18.16. Kenvue Inc. has a 1 year low of $14.02 and a 1 year high of $21.84.
Kenvue (NYSE:KVUE - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.31 earnings per share for the quarter, missing analysts' consensus estimates of $0.32 by ($0.01). Kenvue had a net margin of 10.76% and a return on equity of 21.22%. The firm had revenue of $3.96 billion during the quarter, compared to analyst estimates of $3.97 billion. During the same period in the prior year, the company posted $0.29 earnings per share. The firm's revenue for the quarter was up 3.0% on a year-over-year basis. As a group, research analysts expect that Kenvue Inc. will post 1.14 earnings per share for the current year.
Kenvue Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Investors of record on Wednesday, August 12th will be issued a $0.21 dividend. This is a boost from Kenvue's previous quarterly dividend of $0.21. The ex-dividend date is Wednesday, August 12th. This represents a $0.84 annualized dividend and a yield of 4.5%. Kenvue's dividend payout ratio is currently 96.55%.
Wall Street Analysts Forecast Growth
Several brokerages have weighed in on KVUE. Wall Street Zen downgraded shares of Kenvue from a "buy" rating to a "hold" rating in a research note on Saturday, August 8th. Weiss Ratings raised Kenvue from a "hold (c-)" rating to a "hold (c)" rating in a research report on Monday, June 15th. Barclays increased their price objective on Kenvue from $18.00 to $19.00 and gave the company an "equal weight" rating in a report on Tuesday, July 21st. Zacks Research cut Kenvue from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, July 7th. Finally, UBS Group dropped their target price on Kenvue from $20.00 to $19.00 and set a "neutral" rating on the stock in a research note on Tuesday, August 11th. Three investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $19.27.
Check Out Our Latest Research Report on Kenvue
Kenvue Company Profile
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Free Report)
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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