QRG Capital Management Inc. Buys 29,813 Shares of Kenvue Inc. $KVUE

Key Points

• QRG Capital Management Inc. increased its stake in Kenvue Inc. by 188.3% during the second quarter, acquiring an additional 29,813 shares, bringing its total holdings to 45,645 shares valued at approximately $955,000.
• Kenvue's stock has seen a recent average target price adjustment by analysts, with estimates ranging from $19.00 to $26.00, along with a consensus rating of Hold.
• The company declared a quarterly dividend of $0.2075, reflecting a positive change and a 5.2% dividend yield despite a high payout ratio of 112.16%.

QRG Capital Management Inc. raised its stake in Kenvue Inc. (NYSE:KVUE - Free Report) by 188.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 45,645 shares of the company's stock after acquiring an additional 29,813 shares during the period. QRG Capital Management Inc.'s holdings in Kenvue were worth $955,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Kenvue by 4.9% in the first quarter. Vanguard Group Inc. now owns 229,144,387 shares of the company's stock worth $5,494,882,000 after purchasing an additional 10,600,682 shares in the last quarter. Third Point LLC acquired a new position in Kenvue in the first quarter worth $213,422,000. Maverick Capital Ltd. acquired a new position in Kenvue in the first quarter worth $203,036,000. Nuveen LLC acquired a new position in Kenvue in the first quarter worth $187,123,000. Finally, Voya Investment Management LLC boosted its stake in Kenvue by 131.3% in the first quarter. Voya Investment Management LLC now owns 12,131,468 shares of the company's stock worth $290,557,000 after purchasing an additional 6,886,784 shares in the last quarter. 97.64% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Rothschild & Co Redburn raised Kenvue from a "neutral" rating to a "buy" rating and reduced their price objective for the stock from $22.50 to $22.00 in a research note on Friday, September 26th. Royal Bank Of Canada reduced their price objective on Kenvue from $24.00 to $22.00 and set a "sector perform" rating on the stock in a research note on Friday, August 8th. The Goldman Sachs Group reduced their price objective on Kenvue from $22.00 to $19.00 and set a "neutral" rating on the stock in a research note on Thursday, October 2nd. Canaccord Genuity Group reduced their price objective on Kenvue from $29.00 to $26.00 and set a "buy" rating on the stock in a research note on Friday, August 8th. Finally, Citigroup reaffirmed a "neutral" rating on shares of Kenvue in a research note on Tuesday, September 23rd. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $21.75.

Kenvue Stock Down 0.9%

NYSE:KVUE opened at $16.08 on Thursday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.68 and a current ratio of 0.98. The company has a market cap of $30.86 billion, a PE ratio of 21.73, a PEG ratio of 2.33 and a beta of 0.72. Kenvue Inc. has a 52-week low of $15.47 and a 52-week high of $25.17. The stock has a 50-day simple moving average of $19.34 and a 200 day simple moving average of $21.43.

Kenvue (NYSE:KVUE - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.29 earnings per share for the quarter, beating analysts' consensus estimates of $0.28 by $0.01. The firm had revenue of $3.84 billion during the quarter, compared to the consensus estimate of $3.94 billion. Kenvue had a return on equity of 20.06% and a net margin of 9.37%.The business's revenue was down 4.0% compared to the same quarter last year. During the same period last year, the company earned $0.32 earnings per share. Kenvue has set its FY 2025 guidance at 1.000-1.050 EPS. On average, sell-side analysts expect that Kenvue Inc. will post 1.14 EPS for the current fiscal year.

Kenvue Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 27th. Stockholders of record on Wednesday, August 13th were paid a $0.2075 dividend. This represents a $0.83 annualized dividend and a dividend yield of 5.2%. The ex-dividend date was Wednesday, August 13th. This is a positive change from Kenvue's previous quarterly dividend of $0.21. Kenvue's dividend payout ratio is 112.16%.

Kenvue 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.