Principal Financial Group Inc. Acquires 392,514 Shares of Kenvue Inc. (NYSE:KVUE)

Principal Financial Group Inc. raised its holdings in Kenvue Inc. (NYSE:KVUE) by 20.7% in the second quarter, HoldingsChannel.com reports. The firm owned 2,290,909 shares of the company’s stock after purchasing an additional 392,514 shares during the quarter. Principal Financial Group Inc.’s holdings in Kenvue were worth $41,649,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. TrueMark Investments LLC grew its stake in Kenvue by 59.0% during the second quarter. TrueMark Investments LLC now owns 55,267 shares of the company’s stock worth $1,005,000 after buying an additional 20,511 shares in the last quarter. Scott & Selber Inc. lifted its holdings in shares of Kenvue by 111.0% during the 2nd quarter. Scott & Selber Inc. now owns 107,613 shares of the company’s stock worth $1,956,000 after acquiring an additional 56,623 shares during the period. HB Wealth Management LLC boosted its position in shares of Kenvue by 63.1% during the 2nd quarter. HB Wealth Management LLC now owns 20,164 shares of the company’s stock worth $367,000 after acquiring an additional 7,800 shares in the last quarter. Trajan Wealth LLC increased its stake in Kenvue by 15.9% in the second quarter. Trajan Wealth LLC now owns 162,767 shares of the company’s stock valued at $2,959,000 after acquiring an additional 22,301 shares during the last quarter. Finally, Sterneck Capital Management LLC acquired a new position in Kenvue during the second quarter valued at approximately $567,000. Institutional investors and hedge funds own 97.64% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on KVUE. HSBC lifted their price target on Kenvue from $20.00 to $21.00 and gave the company a “hold” rating in a research note on Wednesday, May 8th. UBS Group lifted their target price on Kenvue from $20.00 to $22.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. JPMorgan Chase & Co. increased their target price on shares of Kenvue from $22.00 to $24.00 and gave the stock an “overweight” rating in a report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Kenvue from $23.00 to $24.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. Finally, Citigroup lowered their price objective on shares of Kenvue from $21.00 to $20.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $22.64.

Kenvue Price Performance

Shares of NYSE:KVUE opened at $21.94 on Friday. The firm has a market cap of $42.01 billion, a PE ratio of 28.13, a price-to-earnings-growth ratio of 2.07 and a beta of 1.38. Kenvue Inc. has a 52 week low of $17.67 and a 52 week high of $23.33. The firm’s fifty day moving average is $19.54 and its 200-day moving average is $19.56. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.68 and a current ratio of 0.99.

Kenvue (NYSE:KVUE) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.04. Kenvue had a return on equity of 21.06% and a net margin of 9.63%. The firm had revenue of $4 billion for the quarter, compared to analyst estimates of $3.93 billion. During the same quarter in the previous year, the company posted $0.32 EPS. The business’s revenue was down .3% on a year-over-year basis. Sell-side analysts predict that Kenvue Inc. will post 1.13 earnings per share for the current year.

Kenvue Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 28th. Stockholders of record on Wednesday, August 14th were given a dividend of $0.205 per share. The ex-dividend date of this dividend was Wednesday, August 14th. This is a boost from Kenvue’s previous quarterly dividend of $0.20. This represents a $0.82 annualized dividend and a dividend yield of 3.74%. Kenvue’s dividend payout ratio is 105.13%.

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.