Kenvue Inc. (NYSE:KVUE) Shares Acquired by Sandia Investment Management LP

Sandia Investment Management LP lifted its position in Kenvue Inc. (NYSE:KVUE) by 400.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 50,000 shares of the company’s stock after acquiring an additional 40,000 shares during the period. Kenvue accounts for 1.2% of Sandia Investment Management LP’s holdings, making the stock its 23rd largest position. Sandia Investment Management LP’s holdings in Kenvue were worth $909,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in KVUE. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in Kenvue by 78.2% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 366,701 shares of the company’s stock valued at $6,667,000 after acquiring an additional 160,928 shares in the last quarter. Marshall Wace LLP boosted its holdings in shares of Kenvue by 184.7% during the 2nd quarter. Marshall Wace LLP now owns 2,022,389 shares of the company’s stock worth $36,767,000 after purchasing an additional 1,312,111 shares during the last quarter. Samlyn Capital LLC grew its position in shares of Kenvue by 54.7% in the second quarter. Samlyn Capital LLC now owns 7,760,276 shares of the company’s stock valued at $141,082,000 after purchasing an additional 2,745,015 shares in the last quarter. Davidson Kempner Capital Management LP increased its holdings in shares of Kenvue by 15.0% in the second quarter. Davidson Kempner Capital Management LP now owns 4,029,352 shares of the company’s stock valued at $73,254,000 after purchasing an additional 525,614 shares during the last quarter. Finally, Bank of Montreal Can lifted its position in Kenvue by 103.5% during the second quarter. Bank of Montreal Can now owns 3,707,447 shares of the company’s stock worth $67,401,000 after buying an additional 1,885,869 shares in the last quarter. 97.64% of the stock is owned by institutional investors and hedge funds.

Kenvue Stock Performance

NYSE:KVUE opened at $23.11 on Wednesday. Kenvue Inc. has a fifty-two week low of $17.67 and a fifty-two week high of $23.55. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.68 and a current ratio of 0.99. The company has a 50 day moving average price of $21.12 and a 200 day moving average price of $20.01. The stock has a market capitalization of $44.26 billion, a P/E ratio of 29.63, a PEG ratio of 2.92 and a beta of 1.40.

Kenvue (NYSE:KVUE) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.04. The business had revenue of $4 billion during the quarter, compared to analysts’ expectations of $3.93 billion. Kenvue had a return on equity of 21.80% and a net margin of 7.23%. The company’s revenue was down .3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.32 earnings per share. Equities research analysts forecast that Kenvue Inc. will post 1.08 EPS for the current 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 dividend of $0.205 per share. The ex-dividend date of this dividend was Wednesday, August 14th. This is a positive change 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 is 105.13%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. UBS Group upped their target price on Kenvue from $20.00 to $22.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Citigroup dropped their price objective on shares of Kenvue from $21.00 to $20.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. Royal Bank of Canada downgraded shares of Kenvue from an “outperform” rating to a “sector perform” rating and set a $24.00 target price on the stock. in a research note on Tuesday. Piper Sandler increased their price target on shares of Kenvue from $20.00 to $21.00 and gave the company a “neutral” rating in a research note on Monday. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of Kenvue from $23.00 to $24.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $22.10.

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.