Neuberger Berman Group LLC Buys 670,791 Shares of Kenvue Inc. $KVUE

Key Points

• Neuberger Berman Group LLC significantly increased its stake in Kenvue Inc. by 252.7%, acquiring a total of 936,264 shares valued at approximately $22.45 million.
• Kenvue recently declared a quarterly dividend of $0.2075 per share, marking a slight increase from the previous dividend, and representing an annualized yield of 3.8%.
• Equities analysts have lowered their price targets for Kenvue stock, with an average target price now at $24.38, citing changes in valuations from firms like Bank of America and UBS Group.

Neuberger Berman Group LLC boosted its holdings in Kenvue Inc. (NYSE:KVUE - Free Report) by 252.7% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 936,264 shares of the company's stock after purchasing an additional 670,791 shares during the quarter. Neuberger Berman Group LLC's holdings in Kenvue were worth $22,452,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of KVUE. Boston Partners grew its holdings in shares of Kenvue by 7.4% during the first quarter. Boston Partners now owns 25,346,453 shares of the company's stock valued at $606,920,000 after buying an additional 1,750,490 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. grew its holdings in shares of Kenvue by 1.3% during the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 58,322 shares of the company's stock valued at $1,399,000 after buying an additional 744 shares during the last quarter. National Pension Service grew its holdings in shares of Kenvue by 2.3% during the first quarter. National Pension Service now owns 2,885,918 shares of the company's stock valued at $69,204,000 after buying an additional 64,762 shares during the last quarter. Prudential PLC grew its holdings in shares of Kenvue by 21.2% during the first quarter. Prudential PLC now owns 695,816 shares of the company's stock valued at $16,686,000 after buying an additional 121,673 shares during the last quarter. Finally, Clal Insurance Enterprises Holdings Ltd grew its holdings in shares of Kenvue by 378.5% during the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,627 shares of the company's stock valued at $39,000 after buying an additional 1,287 shares during the last quarter. Hedge funds and other institutional investors own 97.64% of the company's stock.

Kenvue Stock Performance

KVUE traded down $0.08 during trading on Monday, hitting $21.12. The company's stock had a trading volume of 13,239,887 shares, compared to its average volume of 17,562,324. The company has a quick ratio of 0.68, a current ratio of 0.98 and a debt-to-equity ratio of 0.66. Kenvue Inc. has a one year low of $19.75 and a one year high of $25.17. The firm has a market cap of $40.53 billion, a PE ratio of 28.54, a P/E/G ratio of 3.05 and a beta of 0.83. The business's 50 day simple moving average is $21.54 and its 200-day simple moving average is $22.43.

Kenvue (NYSE:KVUE - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.01. Kenvue had a net margin of 9.37% and a return on equity of 20.06%. The business had revenue of $3.84 billion for the quarter, compared to the consensus estimate of $3.94 billion. During the same period last year, the firm earned $0.32 earnings per share. The company's quarterly revenue was down 4.0% on a year-over-year basis. As a group, sell-side analysts predict that Kenvue Inc. will post 1.14 EPS for the current fiscal year.

Kenvue Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 27th. Investors of record on Wednesday, August 13th will be paid a dividend of $0.2075 per share. This is a positive change 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 dividend yield of 3.9%. Kenvue's dividend payout ratio is presently 112.16%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on KVUE. Barclays cut their price target on shares of Kenvue from $23.00 to $22.00 and set an "equal weight" rating on the stock in a report on Tuesday, July 15th. Bank of America cut their price target on shares of Kenvue from $27.00 to $25.00 and set a "buy" rating on the stock in a report on Tuesday, July 15th. JPMorgan Chase & Co. cut their price target on shares of Kenvue from $27.00 to $26.00 and set an "overweight" rating on the stock in a report on Friday, July 25th. Royal Bank Of Canada lowered their price objective on shares of Kenvue from $24.00 to $22.00 and set a "sector perform" rating on the stock in a research report on Friday, August 8th. Finally, Zacks Research upgraded shares of Kenvue to a "strong sell" rating in a research report on Monday, August 11th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $24.38.

Kenvue Profile

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.