ProShare Advisors LLC Raises Position in Kenvue Inc. (NYSE:KVUE)

ProShare Advisors LLC grew its holdings in shares of Kenvue Inc. (NYSE:KVUE) by 10.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,392,388 shares of the company’s stock after acquiring an additional 851,152 shares during the period. ProShare Advisors LLC owned about 0.49% of Kenvue worth $170,754,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Dynamic Technology Lab Private Ltd purchased a new position in Kenvue during the fourth quarter valued at approximately $467,000. Coldstream Capital Management Inc. purchased a new position in shares of Kenvue during the 4th quarter valued at $365,000. D.A. Davidson & CO. boosted its holdings in Kenvue by 61.7% in the 4th quarter. D.A. Davidson & CO. now owns 57,386 shares of the company’s stock worth $1,236,000 after buying an additional 21,889 shares during the period. Corient Private Wealth LLC increased its stake in Kenvue by 202.8% in the 4th quarter. Corient Private Wealth LLC now owns 365,667 shares of the company’s stock worth $7,873,000 after buying an additional 244,925 shares in the last quarter. Finally, Assetmark Inc. increased its stake in Kenvue by 2,337.2% in the 4th quarter. Assetmark Inc. now owns 39,995 shares of the company’s stock worth $861,000 after buying an additional 38,354 shares in the last quarter. 97.64% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Kenvue Trading Up 0.5 %

KVUE stock opened at $23.02 on Friday. The firm has a fifty day moving average price of $20.92 and a 200 day moving average price of $19.96. Kenvue Inc. has a fifty-two week low of $17.67 and a fifty-two week high of $23.55. The firm has a market cap of $44.08 billion, a PE ratio of 29.51, a price-to-earnings-growth ratio of 2.92 and a beta of 1.40. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.68 and a current ratio of 0.99.

Kenvue (NYSE:KVUE) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.04. The business had revenue of $4 billion during the quarter, compared to analysts’ expectations of $3.93 billion. Kenvue had a net margin of 7.23% and a return on equity of 21.80%. The business’s revenue was down .3% on a year-over-year basis. During the same period last year, the company posted $0.32 EPS. Sell-side analysts anticipate that Kenvue Inc. will post 1.08 earnings per share for the current fiscal year.

Kenvue Increases Dividend

The business also recently disclosed 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 of this dividend was Wednesday, August 14th. This is an increase from Kenvue’s previous quarterly dividend of $0.20. This represents a $0.82 dividend on an annualized basis and a 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.