Nuance Investments LLC Buys Shares of 1,448,488 Kenvue Inc. $KVUE

Key Points

• Nuance Investments acquired 1.45 million Kenvue shares worth approximately $27.7 million, making the stock its sixth-largest holding and representing about 4.7% of its portfolio.
• Institutional ownership remains very high at 97.64%, with BlackRock and Deutsche Bank among other investors initiating substantial positions during the second quarter.
• Kenvue slightly missed quarterly earnings and revenue estimates, while analysts maintain a consensus “Hold” rating with an average price target of $19.27. The company also offers a $0.21 quarterly dividend, equal to a 4.5% annualized yield.

Nuance Investments LLC purchased a new position in Kenvue Inc. (NYSE:KVUE - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 1,448,488 shares of the company's stock, valued at approximately $27,681,000. Kenvue comprises about 4.7% of Nuance Investments LLC's holdings, making the stock its 6th largest holding. Nuance Investments LLC owned approximately 0.08% of Kenvue as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. NINE MASTS CAPITAL Ltd acquired a new position in shares of Kenvue during the 2nd quarter valued at about $20,256,000. B & T Capital Management DBA Alpha Capital Management acquired a new stake in Kenvue in the 2nd quarter worth approximately $5,076,000. BlackRock Inc. acquired a new stake in Kenvue in the 2nd quarter worth approximately $2,882,279,000. Pallas Capital Advisors LLC bought a new stake in Kenvue during the second quarter worth approximately $196,000. Finally, Deutsche Bank AG bought a new stake in Kenvue during the second quarter worth approximately $151,365,000. Institutional investors own 97.64% of the company's stock.

Kenvue Stock Performance

KVUE opened at $18.83 on Tuesday. The company has a quick ratio of 0.71, a current ratio of 1.01 and a debt-to-equity ratio of 0.67. The stock's 50 day moving average price is $18.98 and its two-hundred day moving average price is $18.15. The firm has a market capitalization of $36.17 billion, a P/E ratio of 21.64, a price-to-earnings-growth ratio of 1.37 and a beta of 0.47. Kenvue Inc. has a 12-month low of $14.02 and a 12-month high of $21.84.

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

Kenvue Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 26th. Investors of record on Wednesday, August 12th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 4.5%. This is an increase from Kenvue's previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Wednesday, August 12th. Kenvue's payout ratio is presently 96.55%.

Analyst Ratings Changes

Several equities analysts have commented on KVUE shares. Zacks Research downgraded Kenvue from a "strong-buy" rating to a "hold" rating in a report on Tuesday, July 7th. Weiss Ratings raised shares of Kenvue from a "hold (c-)" rating to a "hold (c)" rating in a report on Monday, June 15th. UBS Group decreased their price objective on shares of Kenvue from $20.00 to $19.00 and set a "neutral" rating for the company in a report on Tuesday, August 11th. Wall Street Zen lowered shares of Kenvue from a "buy" rating to a "hold" rating in a research note on Saturday, August 8th. Finally, Barclays lifted 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. Three analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. Based on data from MarketBeat, Kenvue has a consensus rating of "Hold" and an average target price of $19.27.

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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