Raiffeisen Bank International AG Takes Position in Kenvue Inc. (NYSE:KVUE)

Key Points

• Raiffeisen Bank International AG has acquired 38,706 shares of Kenvue Inc., valued at approximately $917,000, as part of its first quarter investments.
• Kenvue's reported earnings per share of $0.24 exceeded analysts' expectations, and the company also announced an increase in its quarterly dividend to $0.2075 per share.
• Recent analyst ratings for Kenvue have been mixed, with several firms adjusting their target prices downward, while maintaining a consensus rating of "Hold."

Raiffeisen Bank International AG acquired a new stake in shares of Kenvue Inc. (NYSE:KVUE - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 38,706 shares of the company's stock, valued at approximately $917,000.

Other hedge funds have also made changes to their positions in the company. Pittenger & Anderson Inc. acquired a new position in shares of Kenvue during the 1st quarter valued at about $30,000. TruNorth Capital Management LLC acquired a new position in shares of Kenvue during the 1st quarter worth about $36,000. Bank Julius Baer & Co. Ltd Zurich lifted its position in shares of Kenvue by 120.6% during the 1st quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,699 shares of the company's stock worth $41,000 after purchasing an additional 929 shares during the last quarter. Clarity Asset Management Inc. acquired a new position in shares of Kenvue during the 4th quarter worth about $45,000. Finally, Continuum Advisory LLC lifted its position in shares of Kenvue by 2,071.1% during the 1st quarter. Continuum Advisory LLC now owns 1,954 shares of the company's stock worth $47,000 after purchasing an additional 1,864 shares during the last quarter. Institutional investors and hedge funds own 97.64% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Citigroup cut their price objective on Kenvue from $24.50 to $22.00 and set a "neutral" rating for the company in a research report on Tuesday, July 15th. Redburn Atlantic initiated coverage on Kenvue in a research report on Thursday, April 10th. They set a "neutral" rating and a $23.50 target price on the stock. Barclays decreased their target price on Kenvue from $23.00 to $22.00 and set an "equal weight" rating on the stock in a research report on Tuesday, July 15th. JPMorgan Chase & Co. decreased their target price on Kenvue from $27.00 to $26.00 and set an "overweight" rating on the stock in a research report on Friday, July 25th. Finally, Bank of America decreased their target price on Kenvue from $27.00 to $25.00 and set a "buy" rating on the stock in a research report on Tuesday, July 15th. Seven investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $24.79.

Kenvue Price Performance

NYSE:KVUE opened at $22.26 on Tuesday. The firm has a market cap of $42.70 billion, a PE ratio of 40.46, a price-to-earnings-growth ratio of 3.62 and a beta of 0.83. Kenvue Inc. has a 12 month low of $18.10 and a 12 month high of $25.17. The company has a quick ratio of 0.60, a current ratio of 0.86 and a debt-to-equity ratio of 0.63. The company's 50-day moving average price is $21.82 and its two-hundred day moving average price is $22.40.

Kenvue (NYSE:KVUE - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported $0.24 earnings per share for the quarter, topping analysts' consensus estimates of $0.23 by $0.01. Kenvue had a net margin of 6.90% and a return on equity of 20.87%. The company had revenue of $3.74 billion during the quarter, compared to the consensus estimate of $3.69 billion. During the same period in the previous year, the firm posted $0.28 earnings per share. The company's revenue was down 3.9% on a year-over-year basis. On average, equities analysts anticipate that Kenvue Inc. will post 1.14 EPS for the current fiscal year.

Kenvue Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 27th. Stockholders of record on Wednesday, August 13th will be given a dividend of $0.2075 per share. This represents a $0.83 annualized dividend and a dividend yield of 3.7%. The ex-dividend date is Wednesday, August 13th. This is an increase from Kenvue's previous quarterly dividend of $0.21. Kenvue's dividend payout ratio is presently 149.09%.

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.

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