Pacer Advisors Inc. Has $3.48 Million Stock Holdings in Kenvue Inc. (NYSE:KVUE)

Pacer Advisors Inc. lowered its stake in shares of Kenvue Inc. (NYSE:KVUE) by 99.1% in the second quarter, HoldingsChannel reports. The institutional investor owned 191,234 shares of the company’s stock after selling 20,383,672 shares during the period. Pacer Advisors Inc.’s holdings in Kenvue were worth $3,477,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of KVUE. Price T Rowe Associates Inc. MD raised its position in Kenvue by 23.1% during the first 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 in the last quarter. Vanguard Group Inc. increased its stake in shares of Kenvue by 12.0% during the 1st quarter. Vanguard Group Inc. now owns 166,789,085 shares of the company’s stock worth $3,579,294,000 after purchasing an additional 17,908,497 shares during the last quarter. Van ECK Associates Corp raised its holdings in shares of Kenvue by 110.9% during the 2nd quarter. Van ECK Associates Corp now owns 20,510,427 shares of the company’s stock valued at $372,880,000 after purchasing an additional 10,783,258 shares in the last quarter. Clearbridge Investments LLC lifted its stake in shares of Kenvue by 16,051.1% in the 1st quarter. Clearbridge Investments LLC now owns 9,813,597 shares of the company’s stock valued at $210,600,000 after purchasing an additional 9,752,836 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in Kenvue by 21.0% in the second quarter. Bank of New York Mellon Corp now owns 43,444,085 shares of the company’s stock worth $789,813,000 after purchasing an additional 7,546,362 shares in the last quarter. 97.64% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft raised their target price on Kenvue from $23.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. Citigroup decreased their target price on Kenvue from $21.00 to $20.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. JPMorgan Chase & Co. lifted their price target on shares of Kenvue from $22.00 to $24.00 and gave the company an “overweight” rating in a research report on Wednesday, August 7th. Jefferies Financial Group started coverage on shares of Kenvue in a research note on Tuesday. They issued a “buy” rating and a $27.00 price objective for the company. Finally, UBS Group raised their target price on shares of Kenvue from $20.00 to $22.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $22.10.

Kenvue Stock Up 0.4 %

Shares of KVUE opened at $23.11 on Wednesday. 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 simple moving average of $21.12 and a 200-day simple moving average of $20.01. Kenvue Inc. has a 52 week low of $17.67 and a 52 week high of $23.55. The firm has a market capitalization of $44.25 billion, a P/E ratio of 29.63, a P/E/G ratio of 2.92 and a beta of 1.40.

Kenvue (NYSE:KVUE) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.28 by $0.04. Kenvue had a return on equity of 21.80% and a net margin of 7.23%. The firm had revenue of $4 billion during the quarter, compared to analysts’ expectations of $3.93 billion. During the same quarter in the prior year, the firm posted $0.32 EPS. The company’s revenue for the quarter was down .3% on a year-over-year basis. On average, equities research analysts expect that Kenvue Inc. will post 1.08 earnings per share 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 issued a $0.205 dividend. This represents a $0.82 annualized dividend and a yield of 3.55%. 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. Kenvue’s payout ratio is 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.