Tocqueville Asset Management L.P. Makes New $30.30 Million Investment in Kenvue Inc. $KVUE

Key Points

• Tocqueville Asset Management initiated a 1.59 million-share position in Kenvue valued at approximately $30.3 million, while institutional investors collectively own 97.64% of the company.
• Kenvue’s latest quarterly results slightly missed expectations, with earnings of $0.31 per share and revenue of $3.96 billion, though revenue increased 3% year over year.
• Shares recently traded near $19.16, while analysts maintained an overall “Hold” consensus with an average price target of $19.27; the company pays a quarterly dividend of $0.21 per share, yielding about 4.4%.

Tocqueville Asset Management L.P. bought a new position in shares of Kenvue Inc. (NYSE:KVUE - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 1,585,655 shares of the company's stock, valued at approximately $30,302,000. Tocqueville Asset Management L.P. owned 0.08% of Kenvue at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. increased its holdings in Kenvue by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 234,951,484 shares of the company's stock valued at $4,052,913,000 after purchasing an additional 1,604,040 shares in the last quarter. BlackRock Inc. acquired a new position in Kenvue in the second quarter worth $2,882,279,000. State Street Corp grew its holdings in shares of Kenvue by 3.5% during the fourth quarter. State Street Corp now owns 118,865,134 shares of the company's stock worth $2,050,424,000 after purchasing an additional 4,063,257 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Kenvue by 0.8% during the fourth quarter. Geode Capital Management LLC now owns 49,862,574 shares of the company's stock worth $856,778,000 after purchasing an additional 371,322 shares during the last quarter. Finally, Independent Franchise Partners LLP increased its stake in shares of Kenvue by 56.3% in the fourth quarter. Independent Franchise Partners LLP now owns 48,146,476 shares of the company's stock valued at $830,527,000 after buying an additional 17,343,785 shares in the last quarter. 97.64% of the stock is owned by institutional investors and hedge funds.

Kenvue Trading Up 1.9%

Shares of KVUE opened at $19.16 on Thursday. The stock's fifty day simple moving average is $19.02 and its 200-day simple moving average is $18.18. The firm has a market capitalization of $36.80 billion, a PE ratio of 22.02, a price-to-earnings-growth ratio of 1.35 and a beta of 0.47. Kenvue Inc. has a 12-month low of $14.02 and a 12-month high of $21.84. 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 (NYSE:KVUE - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.31 EPS for the quarter, missing analysts' consensus estimates of $0.32 by ($0.01). The firm had revenue of $3.96 billion during the quarter, compared to analyst estimates of $3.97 billion. Kenvue had a return on equity of 21.22% and a net margin of 10.76%.Kenvue's revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.29 earnings per share. As a group, research analysts predict that Kenvue Inc. will post 1.14 earnings per share for the current year.

Kenvue Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Wednesday, August 12th will be given a dividend of $0.21 per share. The ex-dividend date is Wednesday, August 12th. This represents a $0.84 annualized dividend and a dividend yield of 4.4%. This is a positive change from Kenvue's previous quarterly dividend of $0.21. Kenvue's dividend payout ratio is presently 96.55%.

Analysts Set New Price Targets

Several research analysts recently issued reports on KVUE shares. Weiss Ratings upgraded shares of Kenvue from a "hold (c-)" rating to a "hold (c)" rating in a research report on Monday, June 15th. 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 dropped their target price on shares of Kenvue from $20.00 to $19.00 and set a "neutral" rating for the company in a research note on Tuesday, August 11th. Barclays upped their target price on shares of Kenvue from $18.00 to $19.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 21st. Finally, Zacks Research cut shares of Kenvue from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, July 7th. Three research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company's stock. According to data from MarketBeat, Kenvue has an average 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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