Pentwater Capital Management LP acquired a new position in Kenvue Inc. (NYSE:KVUE - Free Report) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 51,130,000 shares of the company's stock, valued at approximately $977,094,000. Kenvue makes up approximately 6.0% of Pentwater Capital Management LP's investment portfolio, making the stock its 3rd biggest holding. Pentwater Capital Management LP owned approximately 2.66% of Kenvue at the end of the most recent quarter.
Several other hedge funds have also bought and sold shares of the business. Philadelphia Investment Partners LLC purchased a new stake in Kenvue in the second quarter worth about $259,000. Ausdal Financial Partners Inc. bought a new stake in shares of Kenvue during the second quarter valued at approximately $342,000. Bank of America Corp DE purchased a new position in Kenvue in the 2nd quarter worth approximately $275,204,000. Port Capital LLC purchased a new position in Kenvue in the 2nd quarter worth approximately $282,000. Finally, Caisse de depot et placement du Quebec bought a new position in Kenvue in the 2nd quarter valued at approximately $16,141,000. Institutional investors own 97.64% of the company's stock.
Kenvue Stock Down 0.5%
NYSE KVUE opened at $19.23 on Thursday. The stock has a market cap of $36.94 billion, a PE ratio of 22.10, a P/E/G ratio of 1.38 and a beta of 0.47. The stock's 50 day moving average is $19.12 and its 200 day moving average is $18.23. Kenvue Inc. has a 12 month low of $14.02 and a 12 month high of $20.95. 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 (NYSE:KVUE - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.31 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.01). The company had revenue of $3.96 billion during the quarter, compared to analysts' expectations of $3.97 billion. Kenvue had a return on equity of 21.22% and a net margin of 10.76%.The firm's revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.29 EPS. Research analysts predict that Kenvue Inc. will post 1.14 EPS for the current fiscal year.
Kenvue Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, August 26th. Investors of record on Wednesday, August 12th were given a $0.21 dividend. This is an increase 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 was Wednesday, August 12th. Kenvue's dividend payout ratio (DPR) is 96.55%.
Analyst Ratings Changes
KVUE has been the subject of a number of recent analyst reports. UBS Group decreased their target price on Kenvue from $20.00 to $19.00 and set a "neutral" rating for the company in a research report on Tuesday, August 11th. Zacks Research cut Kenvue from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, July 7th. Barclays raised their price objective 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. Wall Street Zen cut shares of Kenvue from a "buy" rating to a "hold" rating in a report on Saturday, August 8th. Finally, Weiss Ratings upgraded shares of Kenvue from a "hold (c-)" rating to a "hold (c)" rating in a research note on Monday, June 15th. Three equities research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. According to MarketBeat.com, Kenvue has an average rating of "Hold" and a consensus price target of $19.27.
Get Our Latest Analysis on Kenvue
Kenvue Company Profile
(
Free Report)
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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