Strs Ohio Takes $57.36 Million Position in Kenvue Inc. $KVUE

Key Points

• Strs Ohio has acquired a $57.36 million stake in Kenvue Inc., purchasing over 2.39 million shares, which represents approximately 0.12% of the company's stock.
• Kenvue's earnings report showed $0.29 EPS for the quarter, surpassing estimates, but revenue declined 4.0% year-over-year to $3.84 billion.
• The company recently increased its quarterly dividend to $0.2075 per share, reflecting a 4.5% yield, although its payout ratio stands at 112.16%.

Strs Ohio purchased a new position in shares of Kenvue Inc. (NYSE:KVUE - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 2,392,144 shares of the company's stock, valued at approximately $57,364,000. Strs Ohio owned 0.12% of Kenvue as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Starboard Value LP purchased a new stake in shares of Kenvue during the fourth quarter valued at approximately $467,864,000. Vanguard Group Inc. lifted its holdings in Kenvue by 4.9% during the first quarter. Vanguard Group Inc. now owns 229,144,387 shares of the company's stock valued at $5,494,882,000 after purchasing an additional 10,600,682 shares during the last quarter. Third Point LLC purchased a new stake in Kenvue during the first quarter valued at about $213,422,000. Maverick Capital Ltd. purchased a new stake in Kenvue during the first quarter valued at about $203,036,000. Finally, Nuveen LLC purchased a new stake in Kenvue during the first quarter valued at about $187,123,000. 97.64% of the stock is owned by hedge funds and other institutional investors.

Kenvue Trading Down 2.2%

NYSE KVUE opened at $18.46 on Thursday. Kenvue Inc. has a fifty-two week low of $17.15 and a fifty-two week high of $25.17. 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 stock has a 50 day simple moving average of $21.23 and a two-hundred day simple moving average of $22.30. The stock has a market cap of $35.42 billion, a P/E ratio of 24.94, a price-to-earnings-growth ratio of 2.71 and a beta of 0.83.

Kenvue (NYSE:KVUE - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported $0.29 earnings per share 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 during the quarter, compared to analysts' expectations of $3.94 billion. During the same quarter last year, the business posted $0.32 EPS. The business's revenue was down 4.0% on a year-over-year basis. Kenvue has set its FY 2025 guidance at 1.000-1.050 EPS. On average, analysts forecast that Kenvue Inc. will post 1.14 earnings per share for the current year.

Kenvue Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 27th. Shareholders of record on Wednesday, August 13th were issued a $0.2075 dividend. This is an increase from Kenvue's previous quarterly dividend of $0.21. The ex-dividend date was Wednesday, August 13th. This represents a $0.83 annualized dividend and a yield of 4.5%. Kenvue's dividend payout ratio (DPR) is 112.16%.

Analyst Ratings Changes

KVUE has been the subject of several recent research reports. Zacks Research upgraded Kenvue to a "strong sell" rating in a research report on Monday, August 11th. Canaccord Genuity Group reduced their price target on Kenvue from $29.00 to $26.00 and set a "buy" rating for the company in a research report on Friday, August 8th. Barclays reduced their target price on Kenvue from $23.00 to $22.00 and set an "equal weight" rating for the company in a research report on Tuesday, July 15th. Evercore ISI reduced their target price on Kenvue from $25.00 to $23.00 and set an "in-line" rating for the company in a research report on Monday. Finally, UBS Group reduced their target price on Kenvue from $25.00 to $23.00 and set a "neutral" rating for the company in a research report on Thursday, July 17th. Five analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $24.21.

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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