Saudi Central Bank Increases Position in Kenvue Inc. $KVUE

Key Points

• Saudi Central Bank increased its Kenvue stake by 89.7% in the second quarter, acquiring 63,450 additional shares for a total of 134,172 shares valued at approximately $2.56 million. Institutional investors collectively own 97.64% of Kenvue.
• Kenvue’s shares opened at $18.70, while the company’s latest quarterly results slightly missed expectations, with earnings of $0.31 per share and revenue of $3.96 billion. Revenue nevertheless rose 3% year over year.
• Kenvue maintains a quarterly dividend of $0.21, equivalent to an annualized yield of about 4.5%. Analysts’ consensus rating is “Hold,” with an average price target of $19.27.

Saudi Central Bank lifted its stake in Kenvue Inc. (NYSE:KVUE - Free Report) by 89.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 134,172 shares of the company's stock after acquiring an additional 63,450 shares during the period. Saudi Central Bank's holdings in Kenvue were worth $2,564,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Elyxium Wealth LLC purchased a new position in Kenvue in the fourth quarter valued at about $26,000. Johnson Financial Group Inc. purchased a new stake in shares of Kenvue during the second quarter valued at about $26,000. MV Capital Management Inc. purchased a new stake in shares of Kenvue during the fourth quarter valued at about $28,000. CoreCap Advisors LLC boosted its holdings in shares of Kenvue by 64.9% in the 2nd quarter. CoreCap Advisors LLC now owns 1,502 shares of the company's stock valued at $29,000 after buying an additional 591 shares in the last quarter. Finally, Reflection Asset Management bought a new stake in shares of Kenvue in the 4th quarter valued at about $32,000. 97.64% of the stock is currently owned by hedge funds and other institutional investors.

Kenvue Stock Down 0.2%

KVUE stock opened at $18.70 on Tuesday. The firm has a 50 day moving average of $19.18 and a 200 day moving average of $18.26. The stock has a market capitalization of $35.92 billion, a PE ratio of 21.49, a price-to-earnings-growth ratio of 1.67 and a beta of 0.46. The company has a quick ratio of 0.71, a current ratio of 1.01 and a debt-to-equity ratio of 0.67. Kenvue Inc. has a 52 week low of $14.02 and a 52 week high of $20.69.

Kenvue (NYSE:KVUE - Get Free Report) last released its earnings results on Thursday, August 6th. The company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.01). The company had revenue of $3.96 billion for the quarter, compared to analysts' expectations of $3.97 billion. Kenvue had a return on equity of 21.22% and a net margin of 10.76%.The firm's revenue for the quarter was up 3.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.29 EPS. Sell-side analysts forecast that Kenvue Inc. will post 1.14 earnings per share for the current year.

Kenvue Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 26th. Investors of record on Wednesday, August 12th were given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 4.5%. The ex-dividend date of this dividend was Wednesday, August 12th. This is a positive change from Kenvue's previous quarterly dividend of $0.21. Kenvue's payout ratio is currently 96.55%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on KVUE. Wall Street Zen cut shares of Kenvue from a "buy" rating to a "hold" rating in a research report on Saturday, August 8th. UBS Group cut their price target on shares of Kenvue from $20.00 to $19.00 and set a "neutral" rating on the stock in a report on Tuesday, August 11th. Weiss Ratings raised Kenvue from a "hold (c-)" rating to a "hold (c)" rating in a research report on Monday, June 15th. Barclays increased their price objective on Kenvue from $18.00 to $19.00 and gave the company an "equal weight" rating in a report on Tuesday, July 21st. Finally, Zacks Research cut Kenvue from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, July 7th. Three analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $19.27.

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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