New York Life Investment Management LLC Purchases 308,172 Shares of Kenvue Inc. $KVUE

Key Points

• New York Life Investment Management more than doubled its Kenvue stake in the fourth quarter, buying 308,172 additional shares and bringing its total holding to 590,363 shares valued at about $10.2 million.
• Kenvue’s latest quarterly results beat expectations, with EPS of $0.32 versus $0.27 expected and revenue of $3.91 billion, up 4.5% year over year.
• The company also announced a quarterly dividend of $0.2075 per share, implying an annualized yield of 4.9%, though its payout ratio is high at 97.65%.

New York Life Investment Management LLC boosted its position in Kenvue Inc. (NYSE:KVUE - Free Report) by 109.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 590,363 shares of the company's stock after acquiring an additional 308,172 shares during the period. New York Life Investment Management LLC's holdings in Kenvue were worth $10,184,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in KVUE. NBT Bank N A NY boosted its holdings in Kenvue by 180.3% in the third quarter. NBT Bank N A NY now owns 1,564 shares of the company's stock worth $25,000 after acquiring an additional 1,006 shares in the last quarter. Cornerstone Planning Group LLC raised its stake in shares of Kenvue by 705.2% in the third quarter. Cornerstone Planning Group LLC now owns 1,554 shares of the company's stock worth $25,000 after purchasing an additional 1,361 shares during the last quarter. Physician Wealth Advisors Inc. raised its stake in shares of Kenvue by 67.5% in the fourth quarter. Physician Wealth Advisors Inc. now owns 1,533 shares of the company's stock worth $26,000 after purchasing an additional 618 shares during the last quarter. Golden State Wealth Management LLC raised its stake in shares of Kenvue by 150.1% in the third quarter. Golden State Wealth Management LLC now owns 1,983 shares of the company's stock worth $32,000 after purchasing an additional 1,190 shares during the last quarter. Finally, SBI Securities Co. Ltd. raised its stake in shares of Kenvue by 82.4% in the fourth quarter. SBI Securities Co. Ltd. now owns 2,273 shares of the company's stock worth $39,000 after purchasing an additional 1,027 shares during the last quarter. Institutional investors own 97.64% of the company's stock.

Kenvue Stock Performance

Shares of KVUE opened at $17.09 on Friday. The company has a current ratio of 0.98, a quick ratio of 0.68 and a debt-to-equity ratio of 0.67. The company has a market capitalization of $32.81 billion, a price-to-earnings ratio of 20.10, a PEG ratio of 1.30 and a beta of 0.55. The stock has a 50 day moving average of $17.48 and a 200 day moving average of $17.32. Kenvue Inc. has a 12 month low of $14.02 and a 12 month high of $24.35.

Kenvue (NYSE:KVUE - Get Free Report) last released its earnings results on Thursday, May 7th. The company reported $0.32 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.27 by $0.05. Kenvue had a return on equity of 20.81% and a net margin of 10.61%.The business had revenue of $3.91 billion during the quarter, compared to the consensus estimate of $3.84 billion. During the same period last year, the business posted $0.24 earnings per share. The business's revenue for the quarter was up 4.5% on a year-over-year basis. 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 company also recently announced a quarterly dividend, which will be paid on Wednesday, May 27th. Shareholders of record on Wednesday, May 13th will be given a $0.2075 dividend. This represents a $0.83 dividend on an annualized basis and a yield of 4.9%. The ex-dividend date of this dividend is Wednesday, May 13th. Kenvue's dividend payout ratio (DPR) is currently 97.65%.

Insider Transactions at Kenvue

In other Kenvue news, General Counsel Matthew Orlando sold 38,491 shares of the firm's stock in a transaction on Friday, May 8th. The stock was sold at an average price of $17.66, for a total value of $679,751.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.59% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

KVUE has been the subject of several analyst reports. Argus raised Kenvue to a "hold" rating in a research note on Friday, March 6th. Canaccord Genuity Group increased their price objective on Kenvue from $17.00 to $18.00 and gave the stock a "hold" rating in a research note on Wednesday, February 18th. Jefferies Financial Group downgraded Kenvue from a "buy" rating to a "hold" rating and lowered their price objective for the stock from $23.00 to $18.00 in a research note on Friday, January 30th. Zacks Research raised Kenvue from a "hold" rating to a "strong-buy" rating in a research note on Friday, May 8th. Finally, UBS Group lowered their price objective on Kenvue from $19.00 to $18.00 and set a "neutral" rating for the company in a research note on Tuesday, April 7th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and twelve have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $19.33.

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.

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