Burgundy Asset Management Ltd. Purchases 593,751 Shares of Kenvue Inc. (NYSE:KVUE)

Burgundy Asset Management Ltd. grew its holdings in shares of Kenvue Inc. (NYSE:KVUE) by 11.6% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,702,786 shares of the company’s stock after acquiring an additional 593,751 shares during the quarter. Burgundy Asset Management Ltd.’s holdings in Kenvue were worth $103,677,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in KVUE. Price T Rowe Associates Inc. MD boosted its holdings in Kenvue by 23.1% during 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 acquiring an additional 25,238,112 shares during the period. Vanguard Group Inc. boosted its stake in shares of Kenvue by 12.0% during 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. Norges Bank purchased a new stake in shares of Kenvue during the fourth quarter valued at approximately $282,100,000. Van ECK Associates Corp grew its holdings in shares of Kenvue by 110.9% in the second quarter. Van ECK Associates Corp now owns 20,510,427 shares of the company’s stock worth $372,880,000 after purchasing an additional 10,783,258 shares during the last quarter. Finally, Clearbridge Investments LLC increased its stake in shares of Kenvue by 16,051.1% in the first quarter. Clearbridge Investments LLC now owns 9,813,597 shares of the company’s stock worth $210,600,000 after buying an additional 9,752,836 shares during the period. 97.64% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

KVUE has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. raised their price target on shares of Kenvue from $22.00 to $24.00 and gave the stock an “overweight” rating in a report on Wednesday, August 7th. UBS Group increased their target price on shares of Kenvue from $20.00 to $22.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Citigroup reduced their price target on Kenvue from $21.00 to $20.00 and set a “neutral” rating on the stock in a report on Wednesday, July 10th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $24.00 price target on shares of Kenvue in a research report on Wednesday, August 7th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on Kenvue from $23.00 to $24.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Kenvue has an average rating of “Hold” and an average price target of $21.44.

Kenvue Trading Down 0.9 %

KVUE opened at $23.18 on Thursday. The company has a quick ratio of 0.68, a current ratio of 0.99 and a debt-to-equity ratio of 0.69. Kenvue Inc. has a 52 week low of $17.67 and a 52 week high of $23.55. The stock has a market cap of $44.39 billion, a PE ratio of 29.72, a PEG ratio of 2.92 and a beta of 1.40. The business has a 50 day moving average of $20.73 and a 200-day moving average of $19.91.

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

Kenvue Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 28th. Investors of record on Wednesday, August 14th were paid a dividend of $0.205 per share. The ex-dividend date was Wednesday, August 14th. This represents a $0.82 annualized dividend and a yield of 3.54%. This is a positive change from Kenvue’s previous quarterly dividend of $0.20. Kenvue’s payout ratio is presently 105.13%.

Kenvue 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.