Kenvue Inc. $KVUE Shares Acquired by Viking Fund Management LLC

Key Points

• Viking Fund Management LLC increased its stake in Kenvue Inc. by 11.3% during the second quarter, now holding 445,000 shares valued at approximately $9.31 million.
• Kenvue's earnings report for the second quarter showed earnings per share of $0.29, slightly exceeding estimates, but revenue declined 4.0% year-over-year to $3.84 billion.
• The company has recently increased its quarterly dividend to $0.2075, reflecting a 4.5% yield, with a high payout ratio of 112.16%.

Viking Fund Management LLC boosted its stake in shares of Kenvue Inc. (NYSE:KVUE - Free Report) by 11.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 445,000 shares of the company's stock after purchasing an additional 45,000 shares during the period. Kenvue comprises 1.3% of Viking Fund Management LLC's portfolio, making the stock its 26th largest holding. Viking Fund Management LLC's holdings in Kenvue were worth $9,314,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Pittenger & Anderson Inc. bought a new position in Kenvue during the first quarter valued at approximately $30,000. TruNorth Capital Management LLC bought a new position in Kenvue in the first quarter worth approximately $36,000. Truvestments Capital LLC bought a new position in Kenvue in the first quarter worth approximately $37,000. Clal Insurance Enterprises Holdings Ltd raised its position in Kenvue by 378.5% in the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,627 shares of the company's stock worth $39,000 after acquiring an additional 1,287 shares during the period. Finally, Bank Julius Baer & Co. Ltd Zurich raised its position in Kenvue by 120.6% in the first quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,699 shares of the company's stock worth $41,000 after acquiring an additional 929 shares during the period. Institutional investors own 97.64% of the company's stock.

Kenvue Price Performance

Shares of KVUE stock traded up $0.62 during trading hours on Tuesday, hitting $17.59. 31,851,204 shares of the company's stock were exchanged, compared to its average volume of 19,045,982. The company has a quick ratio of 0.68, a current ratio of 0.98 and a debt-to-equity ratio of 0.66. Kenvue Inc. has a fifty-two week low of $16.89 and a fifty-two week high of $25.17. The firm has a market cap of $33.76 billion, a P/E ratio of 23.75, a P/E/G ratio of 2.63 and a beta of 0.83. The firm has a 50 day moving average of $20.77 and a two-hundred day moving average of $22.00.

Kenvue (NYSE:KVUE - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported $0.29 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.28 by $0.01. The business had revenue of $3.84 billion during the quarter, compared to the consensus estimate of $3.94 billion. Kenvue had a return on equity of 20.06% and a net margin of 9.37%.The company's revenue for the quarter was down 4.0% on a year-over-year basis. During the same period last year, the company earned $0.32 EPS. Kenvue has set its FY 2025 guidance at 1.000-1.050 EPS. Sell-side analysts forecast that Kenvue Inc. will post 1.14 EPS for the current year.

Kenvue Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 27th. Shareholders of record on Wednesday, August 13th were given a $0.2075 dividend. The ex-dividend date of this dividend was Wednesday, August 13th. This represents a $0.83 dividend on an annualized basis and a yield of 4.7%. This is an increase from Kenvue's previous quarterly dividend of $0.21. Kenvue's dividend payout ratio is 112.16%.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Bank of America decreased their price target on shares of Kenvue from $27.00 to $25.00 and set a "buy" rating on the stock in a research report on Tuesday, July 15th. Citigroup reiterated a "neutral" rating on shares of Kenvue in a research report on Tuesday. Canaccord Genuity Group decreased their price target on shares of Kenvue from $29.00 to $26.00 and set a "buy" rating on the stock in a research report on Friday, August 8th. Evercore ISI reduced their price objective on shares of Kenvue from $23.00 to $18.00 and set an "in-line" rating for the company in a research note on Tuesday. Finally, Barclays dropped their price objective on shares of Kenvue from $23.00 to $22.00 and set an "equal weight" rating for the company in a research note on Tuesday, July 15th. Five analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $23.63.

About Kenvue

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.