NewEdge Wealth LLC Buys Shares of 53,681 Kenvue Inc. $KVUE

Key Points

• NewEdge Wealth purchased 53,681 shares of Kenvue in the second quarter, valued at approximately $1.03 million. Institutional investors collectively own 97.64% of the company.
• Analysts remain cautious: Kenvue has an average “Hold” rating and a consensus price target of $19.27, with UBS cutting its target to $19 and Barclays raising its target to $19.
• Kenvue reported quarterly revenue of $3.96 billion, up 3% year over year, but missed earnings expectations by one cent per share. The company declared a quarterly dividend of $0.21, equal to a 4.4% annualized yield.

NewEdge Wealth LLC purchased a new stake in Kenvue Inc. (NYSE:KVUE - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 53,681 shares of the company's stock, valued at approximately $1,026,000.

Other hedge funds have also recently modified their holdings of the company. BlackRock Inc. purchased a new position in Kenvue during the second quarter valued at approximately $2,882,279,000. Norges Bank purchased a new stake in Kenvue during the fourth quarter worth $756,862,000. Independent Franchise Partners LLP lifted its holdings in Kenvue by 56.3% during the fourth quarter. Independent Franchise Partners LLP now owns 48,146,476 shares of the company's stock worth $830,527,000 after buying an additional 17,343,785 shares during the period. Sculptor Capital LP boosted its position in Kenvue by 1,023.5% during the 4th quarter. Sculptor Capital LP now owns 12,886,328 shares of the company's stock valued at $222,289,000 after acquiring an additional 11,739,328 shares in the last quarter. Finally, Bank of New York Mellon Corp bought a new stake in Kenvue during the 2nd quarter valued at $192,080,000. Hedge funds and other institutional investors own 97.64% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently commented on KVUE. Zacks Research lowered Kenvue from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, July 7th. Weiss Ratings raised Kenvue from a "hold (c-)" rating to a "hold (c)" rating in a research report on Monday, June 15th. UBS Group cut 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. Barclays boosted their target price on shares of Kenvue from $18.00 to $19.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 21st. 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 investment analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $19.27.

Kenvue Stock Performance

Shares of KVUE stock opened at $19.08 on Friday. The business's fifty day simple moving average is $19.05 and its 200-day simple moving average is $18.19. The company has a market cap of $36.65 billion, a PE ratio of 21.93, a PEG ratio of 1.36 and a beta of 0.47. The company has a current ratio of 1.01, a quick ratio of 0.71 and a debt-to-equity ratio of 0.67. Kenvue Inc. has a 12-month low of $14.02 and a 12-month high of $21.78.

Kenvue (NYSE:KVUE - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.31 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.01). Kenvue had a net margin of 10.76% and a return on equity of 21.22%. The business had revenue of $3.96 billion for the quarter, compared to analysts' expectations of $3.97 billion. During the same quarter in the prior year, the company posted $0.29 EPS. The business's revenue for the quarter was up 3.0% on a year-over-year basis. Analysts expect that Kenvue Inc. will post 1.14 earnings per share for the current fiscal year.

Kenvue Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Shareholders 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. This represents a $0.84 annualized dividend and a yield of 4.4%. The ex-dividend date of this dividend is Wednesday, August 12th. Kenvue's dividend payout ratio is 96.55%.

About Kenvue

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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