NINE MASTS CAPITAL Ltd Takes $20.26 Million Position in Kenvue Inc. $KVUE

Key Points

• NINE MASTS CAPITAL Ltd acquired 1.06 million Kenvue shares worth approximately $20.26 million, making KVUE its seventh-largest holding and representing about 0.06% of the company.
• Institutional investors and hedge funds own 97.64% of Kenvue, while analysts maintain a consensus “Hold” rating with an average price target of $19.27.
• Kenvue’s latest quarterly results slightly missed expectations, with $0.31 EPS and $3.96 billion in revenue, although revenue grew 3% year over year. The company declared a quarterly dividend of $0.21, implying a 4.5% annual yield.

NINE MASTS CAPITAL Ltd purchased a new stake in Kenvue Inc. (NYSE:KVUE - Free Report) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 1,059,993 shares of the company's stock, valued at approximately $20,256,000. Kenvue comprises 2.0% of NINE MASTS CAPITAL Ltd's holdings, making the stock its 7th biggest holding. NINE MASTS CAPITAL Ltd owned about 0.06% of Kenvue at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Kenvue by 25.8% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 410,874 shares of the company's stock valued at $7,088,000 after acquiring an additional 84,219 shares during the last quarter. Calamos Advisors LLC boosted its stake in Kenvue by 24.1% during the 1st quarter. Calamos Advisors LLC now owns 3,351,000 shares of the company's stock worth $57,771,000 after acquiring an additional 651,000 shares during the last quarter. State of Wyoming boosted its stake in Kenvue by 233.5% during the 4th quarter. State of Wyoming now owns 97,992 shares of the company's stock worth $1,690,000 after acquiring an additional 68,609 shares during the last quarter. Nomura Asset Management Co. Ltd. grew its holdings in Kenvue by 21.5% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 3,491,548 shares of the company's stock valued at $60,229,000 after purchasing an additional 618,720 shares during the period. Finally, Cullen Frost Bankers Inc. grew its holdings in Kenvue by 19.9% during the fourth quarter. Cullen Frost Bankers Inc. now owns 431,394 shares of the company's stock valued at $7,442,000 after purchasing an additional 71,591 shares during the period. 97.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on KVUE shares. UBS Group cut their target price on shares of Kenvue from $20.00 to $19.00 and set a "neutral" rating on the stock in a report on Tuesday, August 11th. Weiss Ratings raised shares of Kenvue from a "hold (c-)" rating to a "hold (c)" rating in a report on Monday, June 15th. Barclays upped their price objective on shares of Kenvue from $18.00 to $19.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 21st. Wall Street Zen downgraded Kenvue from a "buy" rating to a "hold" rating in a research note on Saturday, August 8th. Finally, Zacks Research lowered Kenvue from a "strong-buy" rating to a "hold" rating in a report on Tuesday, July 7th. Three analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. According to MarketBeat.com, Kenvue presently has a consensus rating of "Hold" and a consensus target price of $19.27.

Kenvue Stock Performance

Shares of KVUE opened at $18.83 on Tuesday. The firm has a market cap of $36.17 billion, a P/E ratio of 21.64, a PEG ratio of 1.37 and a beta of 0.47. Kenvue Inc. has a twelve month low of $14.02 and a twelve month high of $21.84. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.71 and a current ratio of 1.01. The firm's 50 day moving average price is $18.98 and its two-hundred day moving average price is $18.15.

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

Kenvue Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Shareholders of record on Wednesday, August 12th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Wednesday, August 12th. This represents a $0.84 annualized dividend and a dividend yield of 4.5%. This is a positive change from Kenvue's previous quarterly dividend of $0.21. Kenvue's dividend payout ratio (DPR) is 96.55%.

Kenvue Company 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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