Nomura Asset Management Co. Ltd. Buys 618,720 Shares of Kenvue Inc. $KVUE

Key Points

• Nomura Asset Management increased its Kenvue stake by 21.5% in the fourth quarter, buying 618,720 shares to bring its total holdings to 3.49 million shares worth about $60.2 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 paid a quarterly dividend of $0.2075 per share, equal to a 4.8% annualized yield, though the payout ratio is high at 97.65%.

Nomura Asset Management Co. Ltd. boosted its stake in shares of Kenvue Inc. (NYSE:KVUE - Free Report) by 21.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,491,548 shares of the company's stock after purchasing an additional 618,720 shares during the quarter. Nomura Asset Management Co. Ltd. owned about 0.18% of Kenvue worth $60,229,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in the stock. Essex Financial Services Inc. boosted its position in Kenvue by 27.4% during the fourth quarter. Essex Financial Services Inc. now owns 18,152 shares of the company's stock valued at $313,000 after purchasing an additional 3,906 shares in the last quarter. MUFG Securities EMEA plc boosted its position in Kenvue by 1,302.2% during the fourth quarter. MUFG Securities EMEA plc now owns 1,594,763 shares of the company's stock valued at $27,510,000 after purchasing an additional 1,481,031 shares in the last quarter. Forsta AP Fonden boosted its position in Kenvue by 1.9% during the fourth quarter. Forsta AP Fonden now owns 436,875 shares of the company's stock valued at $7,536,000 after purchasing an additional 8,200 shares in the last quarter. Norges Bank purchased a new stake in Kenvue in the fourth quarter valued at about $756,862,000. Finally, Eurizon Capital SGR S.p.A. purchased a new stake in Kenvue in the fourth quarter valued at about $17,138,000. Institutional investors own 97.64% of the company's stock.

Kenvue Trading Up 0.0%

Shares of NYSE:KVUE opened at $17.29 on Monday. Kenvue Inc. has a 52-week low of $14.02 and a 52-week high of $23.90. The stock has a market cap of $33.19 billion, a price-to-earnings ratio of 20.34, a PEG ratio of 1.31 and a beta of 0.54. The company has a quick ratio of 0.70, a current ratio of 0.98 and a debt-to-equity ratio of 0.67. The business has a 50-day moving average price of $17.40 and a 200-day moving average price of $17.46.

Kenvue (NYSE:KVUE - Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.05. Kenvue had a return on equity of 20.81% and a net margin of 10.61%.The firm had revenue of $3.91 billion during the quarter, compared to analysts' expectations of $3.84 billion. During the same period last year, the business posted $0.24 earnings per share. The company's revenue for the quarter was up 4.5% compared to the same quarter last year. Equities analysts predict that Kenvue Inc. will post 1.16 EPS for the current year.

Kenvue Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 27th. Stockholders of record on Wednesday, May 13th were paid a $0.2075 dividend. This represents a $0.83 annualized dividend and a dividend yield of 4.8%. The ex-dividend date was Wednesday, May 13th. Kenvue's dividend payout ratio (DPR) is presently 97.65%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on KVUE shares. Argus upgraded Kenvue to a "hold" rating in a research note on Friday, March 6th. Zacks Research upgraded Kenvue from a "hold" rating to a "strong-buy" rating in a research note on Friday, May 8th. Citigroup decreased their price target on Kenvue from $20.00 to $19.00 and set a "neutral" rating for the company in a research note on Wednesday, April 15th. Barclays decreased their price target on Kenvue from $19.00 to $18.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 14th. Finally, Canaccord Genuity Group increased their price target on Kenvue from $17.00 to $18.00 and gave the company a "hold" rating in a research note on Wednesday, February 18th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and twelve have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $19.33.

Insider Activity

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

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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