Healthcare of Ontario Pension Plan Trust Fund Increases Stock Position in Kenvue Inc. (NYSE:KVUE)

Healthcare of Ontario Pension Plan Trust Fund raised its stake in shares of Kenvue Inc. (NYSE:KVUE) by 18.7% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 4,857,910 shares of the company’s stock after acquiring an additional 763,738 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Kenvue were worth $88,317,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Marathon Capital Management lifted its holdings in Kenvue by 0.3% during the second quarter. Marathon Capital Management now owns 149,699 shares of the company’s stock valued at $2,722,000 after purchasing an additional 514 shares in the last quarter. Manchester Capital Management LLC lifted its holdings in Kenvue by 80.8% during the first quarter. Manchester Capital Management LLC now owns 1,186 shares of the company’s stock valued at $25,000 after purchasing an additional 530 shares in the last quarter. Poehling Capital Management INC. lifted its holdings in Kenvue by 0.5% during the second quarter. Poehling Capital Management INC. now owns 104,934 shares of the company’s stock valued at $1,908,000 after purchasing an additional 547 shares in the last quarter. Pathway Financial Advisers LLC lifted its holdings in Kenvue by 12.0% during the second quarter. Pathway Financial Advisers LLC now owns 5,131 shares of the company’s stock valued at $93,000 after purchasing an additional 549 shares in the last quarter. Finally, MV Capital Management Inc. lifted its holdings in Kenvue by 71.2% during the first quarter. MV Capital Management Inc. now owns 1,544 shares of the company’s stock valued at $33,000 after purchasing an additional 642 shares in the last quarter. 97.64% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on KVUE shares. JPMorgan Chase & Co. increased their price objective on shares of Kenvue from $22.00 to $24.00 and gave the company an “overweight” rating in a report on Wednesday, August 7th. Citigroup decreased their price target on shares of Kenvue from $21.00 to $20.00 and set a “neutral” rating on the stock in a research note 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 price target on the stock. in a research note on Tuesday, September 24th. UBS Group raised their price target on shares of Kenvue from $20.00 to $22.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Finally, 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. One equities 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. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $22.10.

Kenvue Price Performance

Kenvue stock opened at $22.63 on Thursday. Kenvue Inc. has a 12-month low of $17.67 and a 12-month high of $23.55. The stock has a market cap of $43.33 billion, a P/E ratio of 29.01, a PEG ratio of 2.92 and a beta of 1.40. The company has a 50-day moving average price of $21.69 and a 200 day moving average price of $20.13. 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 (NYSE:KVUE) last announced its quarterly earnings results 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. Kenvue had a net margin of 7.23% and a return on equity of 21.80%. The business had revenue of $4 billion during the quarter, compared to analysts’ expectations of $3.93 billion. During the same period last year, the business earned $0.32 earnings per share. The business’s revenue for the quarter was down .3% on a year-over-year basis. Sell-side analysts anticipate 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. Shareholders of record on Wednesday, August 14th were given a dividend of $0.205 per share. The ex-dividend date 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 3.62%. Kenvue’s dividend payout ratio (DPR) 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.