Elo Mutual Pension Insurance Co Increases Stock Position in Kenvue Inc. (NYSE:KVUE)

Elo Mutual Pension Insurance Co lifted its holdings in shares of Kenvue Inc. (NYSE:KVUE) by 13.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 161,275 shares of the company’s stock after buying an additional 18,498 shares during the period. Elo Mutual Pension Insurance Co’s holdings in Kenvue were worth $2,932,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the business. Mondrian Investment Partners LTD grew its holdings in shares of Kenvue by 20.8% in the 2nd quarter. Mondrian Investment Partners LTD now owns 6,733,023 shares of the company’s stock worth $124,494,000 after acquiring an additional 1,159,034 shares during the period. Amalgamated Bank boosted its position in Kenvue by 6.2% during the second quarter. Amalgamated Bank now owns 386,739 shares of the company’s stock worth $7,031,000 after purchasing an additional 22,605 shares in the last quarter. Tredje AP fonden grew its holdings in Kenvue by 152.2% in the second quarter. Tredje AP fonden now owns 194,553 shares of the company’s stock valued at $3,537,000 after purchasing an additional 117,400 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. increased its position in shares of Kenvue by 19.3% in the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 64,465 shares of the company’s stock valued at $1,172,000 after buying an additional 10,425 shares in the last quarter. Finally, Bradley Foster & Sargent Inc. CT raised its stake in shares of Kenvue by 13.8% during the 2nd quarter. Bradley Foster & Sargent Inc. CT now owns 280,160 shares of the company’s stock worth $5,093,000 after buying an additional 33,968 shares during the last quarter. 97.64% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently commented on KVUE. Royal Bank of Canada reissued an “outperform” rating and issued a $24.00 price objective on shares of Kenvue in a research note 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 research note on Wednesday, August 7th. JPMorgan Chase & Co. upped their target price on Kenvue from $22.00 to $24.00 and gave the company an “overweight” rating in a research note on Wednesday, August 7th. UBS Group boosted their price target on Kenvue from $20.00 to $22.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Finally, Citigroup decreased their price objective on Kenvue from $21.00 to $20.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $21.44.

Kenvue Stock Performance

Kenvue stock opened at $22.90 on Friday. The stock has a fifty day moving average price of $20.83 and a 200 day moving average price of $19.93. 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 $43.85 billion, a P/E ratio of 29.36, a PEG ratio of 2.92 and a beta of 1.40. 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 posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.04. The company had revenue of $4 billion during the quarter, compared to the consensus estimate of $3.93 billion. Kenvue had a net margin of 7.23% and a return on equity of 21.80%. The company’s quarterly revenue was down .3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.32 EPS. Equities research 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 paid a dividend of $0.205 per share. The ex-dividend date was Wednesday, August 14th. This represents a $0.82 dividend on an annualized basis and a yield of 3.58%. This is an increase from Kenvue’s previous quarterly dividend of $0.20. Kenvue’s dividend payout ratio (DPR) is currently 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.