ProShare Advisors LLC Raises Holdings in Kenvue Inc. $KVUE

Key Points

• ProShare Advisors LLC increased its Kenvue stake by 39.1% in the fourth quarter, adding over 3 million shares and bringing its holding to 10.8 million shares valued at about $186.4 million.
• Kenvue reported better-than-expected quarterly results, with EPS of $0.32 versus $0.27 expected and revenue of $3.91 billion versus $3.84 billion estimated, while revenue rose 4.5% year over year.
• The company announced a quarterly dividend of $0.2075 per share, implying an annualized yield of 4.8%, though its payout ratio is high at 97.65%.

ProShare Advisors LLC grew its position in shares of Kenvue Inc. (NYSE:KVUE - Free Report) by 39.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,803,027 shares of the company's stock after purchasing an additional 3,036,196 shares during the period. ProShare Advisors LLC owned approximately 0.56% of Kenvue worth $186,352,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of Kenvue by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 234,951,484 shares of the company's stock valued at $4,052,913,000 after purchasing an additional 1,604,040 shares in the last quarter. American Century Companies Inc. grew its position in shares of Kenvue by 22.4% during the third quarter. American Century Companies Inc. now owns 37,046,660 shares of the company's stock valued at $601,267,000 after purchasing an additional 6,781,640 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Kenvue by 13.5% during the third quarter. Dimensional Fund Advisors LP now owns 23,127,234 shares of the company's stock valued at $375,377,000 after purchasing an additional 2,747,952 shares in the last quarter. Van ECK Associates Corp grew its position in shares of Kenvue by 101.3% during the third quarter. Van ECK Associates Corp now owns 18,361,581 shares of the company's stock valued at $298,008,000 after purchasing an additional 9,240,434 shares in the last quarter. Finally, Amundi grew its position in shares of Kenvue by 21.6% during the third quarter. Amundi now owns 17,645,761 shares of the company's stock valued at $277,012,000 after purchasing an additional 3,135,871 shares in the last quarter. Hedge funds and other institutional investors own 97.64% of the company's stock.

Kenvue Trading Up 0.4%

KVUE opened at $17.19 on Tuesday. The firm has a market cap of $33.00 billion, a P/E ratio of 20.22, a P/E/G ratio of 1.30 and a beta of 0.55. Kenvue Inc. has a 12 month low of $14.02 and a 12 month high of $24.35. The company has a current ratio of 0.98, a quick ratio of 0.70 and a debt-to-equity ratio of 0.67. The stock has a 50-day moving average of $17.46 and a 200 day moving average of $17.35.

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. The business had revenue of $3.91 billion during the quarter, compared to the consensus estimate of $3.84 billion. Kenvue had a net margin of 10.61% and a return on equity of 20.81%. The firm's quarterly revenue was up 4.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.24 earnings per share. As a group, research analysts forecast that Kenvue Inc. will post 1.16 EPS for the current year.

Kenvue Dividend Announcement

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

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Weiss Ratings upgraded Kenvue from a "hold (c-)" rating to a "hold (c)" rating in a research report on Friday, May 8th. Argus upgraded Kenvue to a "hold" rating in a research report on Friday, March 6th. Zacks Research upgraded Kenvue from a "hold" rating to a "strong-buy" rating in a research report on Friday, May 8th. Jefferies Financial Group lowered Kenvue from a "buy" rating to a "hold" rating and dropped their price target for the stock from $23.00 to $18.00 in a research report on Friday, January 30th. Finally, Canaccord Genuity Group lifted their price target on Kenvue from $17.00 to $18.00 and gave the stock a "hold" rating in a research report on Wednesday, February 18th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and twelve have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $19.33.

Insider Transactions at Kenvue

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

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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