Prudential PLC Acquires 121,673 Shares of Kenvue Inc. (NYSE:KVUE)

Key Points

• Prudential PLC has increased its stake in Kenvue Inc. by 21.2%, owning a total of 695,816 shares valued at approximately $16.7 million as of the most recent SEC filing.
• Kenvue is scheduled to pay a quarterly dividend of $0.2075 per share, reflecting a rise from its previous dividend, leading to an annualized yield of 3.9%.
• Analysts have set a consensus price target of $24.38 for Kenvue, with varying ratings from "hold" to "buy" across multiple research firms.

Prudential PLC raised its stake in Kenvue Inc. (NYSE:KVUE - Free Report) by 21.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 695,816 shares of the company's stock after acquiring an additional 121,673 shares during the quarter. Prudential PLC's holdings in Kenvue were worth $16,686,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Fulton Bank N.A. grew its position in shares of Kenvue by 0.6% in the 1st quarter. Fulton Bank N.A. now owns 78,888 shares of the company's stock valued at $1,892,000 after buying an additional 465 shares during the last quarter. Scott & Selber Inc. raised its position in shares of Kenvue by 0.4% during the first quarter. Scott & Selber Inc. now owns 106,621 shares of the company's stock worth $2,557,000 after acquiring an additional 475 shares during the last quarter. Wealth Alliance LLC lifted its stake in shares of Kenvue by 1.6% in the first quarter. Wealth Alliance LLC now owns 31,778 shares of the company's stock worth $762,000 after acquiring an additional 486 shares during the period. Everett Harris & Co. CA boosted its holdings in Kenvue by 1.4% in the first quarter. Everett Harris & Co. CA now owns 36,971 shares of the company's stock valued at $887,000 after acquiring an additional 500 shares during the last quarter. Finally, Keystone Financial Group boosted its holdings in Kenvue by 4.8% in the fourth quarter. Keystone Financial Group now owns 12,736 shares of the company's stock valued at $272,000 after acquiring an additional 578 shares during the last quarter. Institutional investors own 97.64% of the company's stock.

Kenvue Stock Down 3.0%

Shares of NYSE KVUE traded down $0.66 during trading on Thursday, hitting $21.06. 14,760,615 shares of the company traded hands, compared to its average volume of 17,592,551. The firm has a market capitalization of $40.41 billion, a price-to-earnings ratio of 28.45, a P/E/G ratio of 3.15 and a beta of 0.83. The business's fifty day moving average is $21.55 and its 200 day moving average is $22.42. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.68 and a current ratio of 0.98. Kenvue Inc. has a fifty-two week low of $19.75 and a fifty-two week high of $25.17.

Kenvue (NYSE:KVUE - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.01. Kenvue had a return on equity of 20.06% and a net margin of 9.37%. The business had revenue of $3.84 billion for the quarter, compared to analyst estimates of $3.94 billion. During the same quarter in the prior year, the company earned $0.32 earnings per share. The company's quarterly revenue was down 4.0% on a year-over-year basis. Equities research analysts predict that Kenvue Inc. will post 1.14 earnings per share for the current fiscal year.

Kenvue Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 27th. Investors of record on Wednesday, August 13th will be given a $0.2075 dividend. This represents a $0.83 annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend is Wednesday, August 13th. This is an increase from Kenvue's previous quarterly dividend of $0.21. Kenvue's payout ratio is 110.81%.

Analyst Ratings Changes

Several research firms have issued reports on KVUE. Canaccord Genuity Group lowered their price target on shares of Kenvue from $29.00 to $26.00 and set a "buy" rating for the company in a report on Friday, August 8th. Barclays decreased their price objective on shares of Kenvue from $23.00 to $22.00 and set an "equal weight" rating for the company in a research report on Tuesday, July 15th. UBS Group lowered their target price on shares of Kenvue from $25.00 to $23.00 and set a "neutral" rating for the company in a research note on Thursday, July 17th. Citigroup cut their price target on shares of Kenvue from $24.50 to $22.00 and set a "neutral" rating on the stock in a research report on Tuesday, July 15th. Finally, JPMorgan Chase & Co. lowered their price objective on Kenvue from $27.00 to $26.00 and set an "overweight" rating for the company in a research report on Friday, July 25th. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Kenvue presently has an average rating of "Hold" and a consensus price target of $24.38.

Kenvue Company Profile

Kenvue Inc operates as a consumer health company worldwide. The company operates through three segments: Self Care, Skin Health and Beauty, and Essential Health. The Self Care segment offers cough, cold and allergy, pain care, digestive health, smoking cessation, eye care, and other products under the Tylenol, Motrin, Benadryl, Nicorette, Zarbee's, ORSLTM, Rhinocort, Calpol, and Zyrtec brands.