Kenvue Inc. (NYSE:KVUE) Shares Acquired by PFG Investments LLC

PFG Investments LLC boosted its holdings in Kenvue Inc. (NYSE:KVUE) by 53.4% during the second quarter, HoldingsChannel reports. The fund owned 18,537 shares of the company’s stock after buying an additional 6,451 shares during the period. PFG Investments LLC’s holdings in Kenvue were worth $337,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in KVUE. Vanguard Group Inc. raised its position in Kenvue by 12.0% in the first quarter. Vanguard Group Inc. now owns 166,789,085 shares of the company’s stock valued at $3,579,294,000 after purchasing an additional 17,908,497 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in Kenvue by 23.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 134,565,333 shares of the company’s stock valued at $2,887,773,000 after buying an additional 25,238,112 shares during the period. Wellington Management Group LLP lifted its position in Kenvue by 6.7% in the fourth quarter. Wellington Management Group LLP now owns 76,501,956 shares of the company’s stock valued at $1,647,087,000 after buying an additional 4,815,126 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Kenvue by 11.1% during the first quarter. JPMorgan Chase & Co. now owns 68,319,998 shares of the company’s stock valued at $1,466,147,000 after acquiring an additional 6,825,611 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of Kenvue by 21.0% during the second quarter. Bank of New York Mellon Corp now owns 43,444,085 shares of the company’s stock valued at $789,813,000 after acquiring an additional 7,546,362 shares during the last quarter. 97.64% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $24.00 price objective on shares of Kenvue in a research report on Wednesday, August 7th. Citigroup dropped their price objective on Kenvue from $21.00 to $20.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. Deutsche Bank Aktiengesellschaft increased their target price on Kenvue from $23.00 to $24.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. JPMorgan Chase & Co. lifted their target price on Kenvue from $22.00 to $24.00 and gave the company an “overweight” rating in a research report on Wednesday, August 7th. Finally, UBS Group increased their price target on shares of Kenvue from $20.00 to $22.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $21.44.

Kenvue Stock Performance

Shares of Kenvue stock opened at $23.08 on Friday. The business has a 50-day simple moving average of $20.31 and a 200-day simple moving average of $19.78. The company has a market cap of $44.19 billion, a PE ratio of 29.59, a P/E/G ratio of 2.89 and a beta of 1.40. Kenvue Inc. has a one year low of $17.67 and a one year high of $23.47. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.68 and a current ratio of 0.99.

Kenvue (NYSE:KVUE) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.04. The company had revenue of $4 billion for the quarter, compared to the consensus estimate of $3.93 billion. Kenvue had a net margin of 7.23% and a return on equity of 21.80%. The company’s quarterly revenue was down .3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.32 EPS. On average, equities research analysts forecast that Kenvue Inc. will post 1.08 EPS for the current fiscal year.

Kenvue Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 28th. Shareholders of record on Wednesday, August 14th were paid a $0.205 dividend. The ex-dividend date was Wednesday, August 14th. This is a boost from Kenvue’s previous quarterly dividend of $0.20. This represents a $0.82 dividend on an annualized basis and a yield of 3.55%. Kenvue’s dividend payout ratio (DPR) is currently 105.13%.

Kenvue Company 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.