Davidson Kempner Capital Management LP Has $73.25 Million Stock Position in Kenvue Inc. (NYSE:KVUE)

Davidson Kempner Capital Management LP grew its stake in Kenvue Inc. (NYSE:KVUE) by 15.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,029,352 shares of the company’s stock after purchasing an additional 525,614 shares during the period. Kenvue makes up approximately 1.5% of Davidson Kempner Capital Management LP’s holdings, making the stock its 17th largest holding. Davidson Kempner Capital Management LP’s holdings in Kenvue were worth $73,254,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of KVUE. Price T Rowe Associates Inc. MD lifted 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 purchasing an additional 25,238,112 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of 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 acquiring an additional 17,908,497 shares during the last quarter. Van ECK Associates Corp boosted its holdings in shares of Kenvue by 110.9% in the 2nd quarter. Van ECK Associates Corp now owns 20,510,427 shares of the company’s stock worth $372,880,000 after acquiring an additional 10,783,258 shares in the last quarter. Clearbridge Investments LLC grew its position in Kenvue by 16,051.1% during the 1st quarter. Clearbridge Investments LLC now owns 9,813,597 shares of the company’s stock worth $210,600,000 after acquiring an additional 9,752,836 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in Kenvue by 21.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 43,444,085 shares of the company’s stock valued at $789,813,000 after purchasing an additional 7,546,362 shares in the last quarter. 97.64% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Kenvue Stock Up 0.5 %

Shares of NYSE:KVUE opened at $23.02 on Monday. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.99 and a quick ratio of 0.68. The stock has a market cap of $44.08 billion, a price-to-earnings ratio of 29.51, a P/E/G ratio of 2.92 and a beta of 1.40. The company has a 50 day moving average of $20.92 and a 200-day moving average of $19.96. Kenvue Inc. has a one year low of $17.67 and a one year high of $23.55.

Kenvue (NYSE:KVUE) last released its earnings results on Tuesday, August 6th. The company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.04. The firm had revenue of $4 billion during 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%. The business’s quarterly revenue was down .3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.32 EPS. On average, sell-side analysts forecast that Kenvue Inc. will post 1.08 earnings per share for the current year.

Kenvue Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 28th. Stockholders of record on Wednesday, August 14th were paid a $0.205 dividend. 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 dividend on an annualized basis and a dividend yield of 3.56%. 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.