Burgundy Asset Management Ltd. Acquires 593,751 Shares of Kenvue Inc. (NYSE:KVUE)

Burgundy Asset Management Ltd. increased its stake in Kenvue Inc. (NYSE:KVUE) by 11.6% during the second quarter, according to its most recent filing with the SEC. The fund owned 5,702,786 shares of the company’s stock after buying an additional 593,751 shares during the quarter. Burgundy Asset Management Ltd. owned 0.30% of Kenvue worth $103,677,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Manchester Capital Management LLC grew its position in shares of Kenvue by 80.8% during 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 during the period. Mather Group LLC. bought a new stake in shares of Kenvue in the first quarter valued at $28,000. Riverview Trust Co purchased a new position in shares of Kenvue during the 1st quarter valued at $33,000. MV Capital Management Inc. grew its stake 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, Salomon & Ludwin LLC purchased a new stake in Kenvue in the 1st quarter worth about $33,000. Institutional investors own 97.64% of the company’s stock.

Kenvue Stock Performance

Shares of KVUE opened at $23.18 on Thursday. Kenvue Inc. has a 12-month low of $17.67 and a 12-month high of $23.55. The company has a current ratio of 0.99, a quick ratio of 0.68 and a debt-to-equity ratio of 0.69. The company has a market cap of $44.39 billion, a PE ratio of 29.72, a price-to-earnings-growth ratio of 2.92 and a beta of 1.40. The stock has a 50-day moving average price of $20.73 and a 200-day moving average price of $19.91.

Kenvue (NYSE:KVUE) last announced its earnings results on Tuesday, August 6th. The company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.04. The business 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%. Kenvue’s revenue for the quarter was down .3% on a year-over-year basis. During the same period in the previous year, the business posted $0.32 earnings per share. As a group, equities analysts forecast that Kenvue Inc. will post 1.08 earnings per share for the current fiscal year.

Kenvue Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 28th. Investors of record on Wednesday, August 14th were given a $0.205 dividend. 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 annualized dividend and a yield of 3.54%. Kenvue’s payout ratio is 105.13%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on KVUE shares. JPMorgan Chase & Co. upped 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. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Kenvue from $23.00 to $24.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. Royal Bank of Canada restated an “outperform” rating and set a $24.00 target price on shares of Kenvue in a research report on Wednesday, August 7th. Citigroup cut their price target on Kenvue from $21.00 to $20.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. Finally, UBS Group boosted their price objective on Kenvue from $20.00 to $22.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. One analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Kenvue has an average rating of “Hold” and a consensus price target of $21.44.

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.