Readystate Asset Management LP Grows Position in Kenvue Inc. $KVUE

Key Points

• Readystate Asset Management increased its Kenvue stake by 76.8% in the first quarter, adding 459,192 shares to own 1.06 million shares valued at approximately $18.2 million. Institutional investors collectively own 97.64% of Kenvue.
• Kenvue reported quarterly earnings of $0.32 per share, exceeding estimates of $0.27, while revenue rose 4.5% year over year to $3.91 billion. Shares opened at $19.75, within a 52-week range of $14.02 to $22.44.
• Analyst sentiment remains cautious, with the stock carrying an overall “Hold” rating and an average price target of $19.58. Separately, General Counsel Matthew Orlando sold 38,491 shares for roughly $680,000.

Readystate Asset Management LP increased its holdings in shares of Kenvue Inc. (NYSE:KVUE - Free Report) by 76.8% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,057,316 shares of the company's stock after purchasing an additional 459,192 shares during the quarter. Kenvue accounts for about 0.8% of Readystate Asset Management LP's investment portfolio, making the stock its 26th largest holding. Readystate Asset Management LP owned approximately 0.06% of Kenvue worth $18,228,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. Physician Wealth Advisors Inc. lifted its holdings in shares of Kenvue by 67.5% during the 4th quarter. Physician Wealth Advisors Inc. now owns 1,533 shares of the company's stock valued at $26,000 after acquiring an additional 618 shares in the last quarter. Elyxium Wealth LLC acquired a new stake in Kenvue during the 4th quarter valued at approximately $26,000. MV Capital Management Inc. acquired a new stake in shares of Kenvue during the fourth quarter worth approximately $28,000. Reflection Asset Management acquired a new position in Kenvue during the 4th quarter worth $32,000. Finally, SBI Securities Co. Ltd. increased its holdings in Kenvue by 82.4% in the fourth quarter. SBI Securities Co. Ltd. now owns 2,273 shares of the company's stock valued at $39,000 after buying an additional 1,027 shares during the last quarter. Hedge funds and other institutional investors own 97.64% of the company's stock.

Kenvue Price Performance

KVUE stock opened at $19.75 on Wednesday. The company has a current ratio of 0.98, a quick ratio of 0.70 and a debt-to-equity ratio of 0.67. Kenvue Inc. has a one year low of $14.02 and a one year high of $22.44. The firm has a market capitalization of $37.91 billion, a PE ratio of 23.23, a P/E/G ratio of 1.48 and a beta of 0.47. The firm has a 50-day moving average of $18.47 and a two-hundred day moving average of $17.97.

Kenvue (NYSE:KVUE - Get Free Report) last announced its earnings results on Thursday, May 7th. The company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.27 by $0.05. The company had revenue of $3.91 billion during the quarter, compared to analysts' expectations of $3.84 billion. Kenvue had a net margin of 10.61% and a return on equity of 20.81%. The business's revenue for the quarter was up 4.5% on a year-over-year basis. During the same period last year, the company posted $0.24 earnings per share. On average, analysts forecast that Kenvue Inc. will post 1.16 earnings per share for the current year.

Insider Activity at Kenvue

In related news, General Counsel Matthew Orlando sold 38,491 shares of the company's stock in a transaction that occurred on 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 the SEC website. Company insiders own 1.59% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on KVUE shares. UBS Group increased their target price on shares of Kenvue from $18.00 to $20.00 and gave the stock a "neutral" rating in a report on Thursday, July 16th. Weiss Ratings raised Kenvue from a "hold (c-)" rating to a "hold (c)" rating in a research note on Monday, June 15th. Zacks Research lowered shares of Kenvue from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, July 7th. Barclays raised their price objective on shares of Kenvue from $18.00 to $19.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 21st. Finally, Wall Street Zen raised Kenvue to a "buy" rating in a research note on Sunday, July 12th. Three research analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $19.58.

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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