Canada Pension Plan Investment Board Has $73.33 Million Holdings in Kenvue Inc. (NYSE:KVUE)

Canada Pension Plan Investment Board grew its stake in Kenvue Inc. (NYSE:KVUE) by 22.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,033,637 shares of the company’s stock after purchasing an additional 730,430 shares during the period. Canada Pension Plan Investment Board owned about 0.21% of Kenvue worth $73,332,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in KVUE. Manchester Capital Management LLC raised its holdings in Kenvue by 80.8% in the 1st quarter. Manchester Capital Management LLC now owns 1,186 shares of the company’s stock valued at $25,000 after acquiring an additional 530 shares in the last quarter. Poehling Capital Management INC. increased its holdings in Kenvue by 0.5% in the 2nd quarter. Poehling Capital Management INC. now owns 104,934 shares of the company’s stock valued at $1,908,000 after buying an additional 547 shares during the period. Tradition Wealth Management LLC raised its stake in shares of Kenvue by 2.8% in the 4th quarter. Tradition Wealth Management LLC now owns 21,278 shares of the company’s stock valued at $458,000 after buying an additional 575 shares in the last quarter. MV Capital Management Inc. lifted its holdings in shares of Kenvue by 71.2% during the 1st quarter. MV Capital Management Inc. now owns 1,544 shares of the company’s stock worth $33,000 after acquiring an additional 642 shares during the period. Finally, Cove Private Wealth LLC boosted its position in shares of Kenvue by 1.6% during the 2nd quarter. Cove Private Wealth LLC now owns 44,539 shares of the company’s stock valued at $810,000 after acquiring an additional 700 shares in the last quarter. Institutional investors own 97.64% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on KVUE shares. Deutsche Bank Aktiengesellschaft raised their price target on shares of Kenvue from $23.00 to $24.00 and gave the stock a “buy” rating in a research note 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. JPMorgan Chase & Co. upped 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. UBS Group lifted their price target on shares of Kenvue from $20.00 to $22.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $24.00 price objective on shares of Kenvue in a report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Kenvue currently has an average rating of “Hold” and an average price target of $21.44.

Kenvue Stock Performance

Shares of NYSE:KVUE opened at $23.02 on Friday. The company has a current ratio of 0.99, a quick ratio of 0.68 and a debt-to-equity ratio of 0.69. Kenvue Inc. has a 1-year low of $17.67 and a 1-year high of $23.55. The stock has a market capitalization of $44.08 billion, a P/E ratio of 29.51, a P/E/G ratio of 2.92 and a beta of 1.40. The business has a 50-day moving average price of $20.92 and a two-hundred day moving average price of $19.96.

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

Kenvue Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 28th. Investors of record on Wednesday, August 14th were issued a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a yield of 3.56%. The ex-dividend date of this dividend was Wednesday, August 14th. This is an increase from Kenvue’s previous quarterly dividend of $0.20. Kenvue’s dividend payout ratio 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.