Van ECK Associates Corp Sells 3,602,447 Shares of Kenvue Inc. $KVUE

Key Points

• Van ECK Associates cut its Kenvue stake by 17.5% in the second quarter, selling 3.6 million shares and retaining 17.0 million shares worth approximately $325.2 million. Institutional investors collectively own 97.64% of Kenvue.
• Kenvue’s latest quarter showed 3% year-over-year revenue growth to $3.96 billion, though earnings of $0.31 per share narrowly missed estimates. Analysts maintain a consensus “Hold” rating with a $19.27 price target.
• The stock opened at $19.15, near its 50-day average, while Kenvue’s quarterly dividend implies an annualized payout of $0.84 and a 4.4% yield.

Van ECK Associates Corp lowered its stake in Kenvue Inc. (NYSE:KVUE - Free Report) by 17.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 17,014,735 shares of the company's stock after selling 3,602,447 shares during the period. Van ECK Associates Corp owned 0.89% of Kenvue worth $325,152,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of KVUE. Nissay Asset Management Corp Japan lifted its holdings in Kenvue by 4.0% during the 2nd quarter. Nissay Asset Management Corp Japan now owns 256,964 shares of the company's stock worth $4,911,000 after buying an additional 9,848 shares in the last quarter. Beacon Pointe Advisors LLC acquired a new stake in shares of Kenvue in the 2nd quarter valued at $225,000. Livforsakringsbolaget Skandia Omsesidigt acquired a new stake in shares of Kenvue in the 2nd quarter valued at $289,000. Rakuten Investment Management Inc. bought a new stake in shares of Kenvue during the second quarter worth $6,046,000. Finally, Mint Tower Capital Management B.V. bought a new stake in shares of Kenvue during the second quarter worth $1,529,000. Institutional investors own 97.64% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. UBS Group decreased their price target on Kenvue from $20.00 to $19.00 and set a "neutral" rating on the stock in a report on Tuesday, August 11th. Barclays boosted their price objective on Kenvue from $18.00 to $19.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 21st. Wall Street Zen lowered shares of Kenvue from a "buy" rating to a "hold" rating in a research note on Saturday, August 8th. Zacks Research lowered shares of Kenvue from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, July 7th. Finally, Weiss Ratings upgraded shares of Kenvue from a "hold (c-)" rating to a "hold (c)" rating in a research report on Monday, June 15th. Three analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. Based on data from MarketBeat, Kenvue currently has an average rating of "Hold" and a consensus price target of $19.27.

Kenvue Stock Down 0.3%

NYSE:KVUE opened at $19.15 on Friday. 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 12-month low of $14.02 and a 12-month high of $20.82. The stock's fifty day simple moving average is $19.16 and its 200-day simple moving average is $18.25. The firm has a market capitalization of $36.78 billion, a P/E ratio of 22.01, a P/E/G ratio of 1.37 and a beta of 0.47.

Kenvue (NYSE:KVUE - Get Free Report) last released 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). Kenvue had a net margin of 10.76% and a return on equity of 21.22%. The company had revenue of $3.96 billion during the quarter, compared to the consensus estimate of $3.97 billion. During the same quarter in the prior year, the company posted $0.29 EPS. The company's revenue for the quarter was up 3.0% compared to the same quarter last year. Equities research analysts expect that Kenvue Inc. will post 1.14 earnings per share for the current year.

Kenvue Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 26th. Stockholders of record on Wednesday, August 12th were paid a $0.21 dividend. This is a boost from Kenvue's previous quarterly dividend of $0.21. The ex-dividend date of this dividend was Wednesday, August 12th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 4.4%. Kenvue's dividend payout ratio (DPR) is currently 96.55%.

Kenvue 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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