P Schoenfeld Asset Management LP Invests $5.85 Billion in Kenvue Inc. $KVUE

Key Points

• P Schoenfeld Asset Management acquired 306,200 Kenvue shares in the second quarter, reportedly valued at approximately $5.85 billion, making KVUE its 15th-largest holding and representing 2.4% of its portfolio. Institutional investors collectively own 97.64% of Kenvue.
• Analyst sentiment remains cautious: three analysts rate Kenvue a Buy and 12 rate it Hold, producing an overall Hold consensus with an average price target of $19.27. UBS cut its target to $19, while Barclays raised its target to $19.
• Kenvue’s latest quarterly results slightly missed expectations, with $0.31 in adjusted EPS and $3.96 billion in revenue, although revenue increased 3% year over year. The company declared a $0.21 quarterly dividend, equivalent to a 4.4% yield and an annualized payout of $0.84 per share.

P Schoenfeld Asset Management LP acquired a new position in shares of Kenvue Inc. (NYSE:KVUE - Free Report) in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund acquired 306,200 shares of the company's stock, valued at approximately $5,851,482,000. Kenvue comprises about 2.4% of P Schoenfeld Asset Management LP's investment portfolio, making the stock its 15th largest holding.

A number of other institutional investors and hedge funds have also recently bought and sold shares of KVUE. Physician Wealth Advisors Inc. increased its position in Kenvue by 67.5% during the fourth quarter. Physician Wealth Advisors Inc. now owns 1,533 shares of the company's stock worth $26,000 after buying an additional 618 shares in the last quarter. Elyxium Wealth LLC purchased a new stake in shares of Kenvue in the fourth quarter valued at $26,000. Johnson Financial Group Inc. purchased a new stake in shares of Kenvue in the second quarter valued at $26,000. MV Capital Management Inc. purchased a new stake in shares of Kenvue in the fourth quarter valued at $28,000. Finally, CoreCap Advisors LLC boosted its stake in shares of Kenvue by 64.9% during the second quarter. CoreCap Advisors LLC now owns 1,502 shares of the company's stock valued at $29,000 after acquiring an additional 591 shares during the last quarter. Hedge funds and other institutional investors own 97.64% of the company's stock.

Analysts Set New Price Targets

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

Kenvue Stock Up 0.1%

Shares of KVUE opened at $19.08 on Monday. Kenvue Inc. has a fifty-two week low of $14.02 and a fifty-two week high of $21.78. The company's fifty day moving average is $19.05 and its two-hundred day moving average is $18.20. The firm has a market cap of $36.65 billion, a PE ratio of 21.93, a price-to-earnings-growth ratio of 1.36 and a beta of 0.47. The company has a quick ratio of 0.71, a current ratio of 1.01 and a debt-to-equity ratio of 0.67.

Kenvue (NYSE:KVUE - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported $0.31 EPS for the quarter, missing analysts' consensus estimates of $0.32 by ($0.01). The firm had revenue of $3.96 billion for the quarter, compared to analyst estimates of $3.97 billion. Kenvue had a return on equity of 21.22% and a net margin of 10.76%.The company's quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.29 earnings per share. Analysts forecast that Kenvue Inc. will post 1.14 earnings per share for the current 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 dividend of $0.21 per share. 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 is Wednesday, August 12th. Kenvue's payout ratio is currently 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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