Acadian Asset Management LLC Buys Shares of 22,701 Kenvue Inc. (NYSE:KVUE)

Acadian Asset Management LLC purchased a new position in shares of Kenvue Inc. (NYSE:KVUE) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund purchased 22,701 shares of the company’s stock, valued at approximately $412,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Financial Advocates Investment Management acquired a new stake in shares of Kenvue in the 4th quarter valued at approximately $207,000. Norges Bank bought a new position in shares of Kenvue during the fourth quarter worth $282,100,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of Kenvue in the 4th quarter valued at $467,000. PNC Financial Services Group Inc. increased its position in shares of Kenvue by 43.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 411,184 shares of the company’s stock valued at $8,853,000 after buying an additional 124,016 shares in the last quarter. Finally, Coldstream Capital Management Inc. acquired a new stake in Kenvue during the 4th quarter worth $365,000. 97.64% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

Kenvue Stock Performance

Shares of KVUE opened at $23.18 on Thursday. The stock has a market capitalization of $44.39 billion, a price-to-earnings ratio of 29.72, a PEG ratio of 2.92 and a beta of 1.40. Kenvue Inc. has a 12 month low of $17.67 and a 12 month high of $23.55. The firm has a fifty day simple moving average of $20.73 and a 200 day simple moving average of $19.91. 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, topping 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% on a year-over-year basis. During the same period in the prior year, the business posted $0.32 EPS. Research analysts forecast that Kenvue Inc. will post 1.08 EPS for the current fiscal 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 $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a yield of 3.54%. This is an increase from Kenvue’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Wednesday, August 14th. 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.