Mackenzie Financial Corp Raises Stake in Kenvue Inc. (NYSE:KVUE)

Mackenzie Financial Corp raised its position in Kenvue Inc. (NYSE:KVUE) by 0.8% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 385,294 shares of the company’s stock after purchasing an additional 2,907 shares during the period. Mackenzie Financial Corp’s holdings in Kenvue were worth $7,005,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Price T Rowe Associates Inc. MD increased its holdings in Kenvue by 23.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 134,565,333 shares of the company’s stock valued at $2,887,773,000 after buying an additional 25,238,112 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Kenvue by 12.0% in the 1st quarter. Vanguard Group Inc. now owns 166,789,085 shares of the company’s stock valued at $3,579,294,000 after acquiring an additional 17,908,497 shares during the last quarter. Van ECK Associates Corp raised its position in shares of Kenvue by 110.9% during the 2nd quarter. Van ECK Associates Corp now owns 20,510,427 shares of the company’s stock worth $372,880,000 after acquiring an additional 10,783,258 shares in the last quarter. Clearbridge Investments LLC lifted its stake in Kenvue by 16,051.1% during the first quarter. Clearbridge Investments LLC now owns 9,813,597 shares of the company’s stock worth $210,600,000 after purchasing an additional 9,752,836 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in Kenvue by 21.0% in the second quarter. Bank of New York Mellon Corp now owns 43,444,085 shares of the company’s stock valued at $789,813,000 after purchasing an additional 7,546,362 shares in the last quarter. 97.64% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Citigroup cut their price objective 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. boosted their price target on shares of Kenvue from $22.00 to $24.00 and gave the company an “overweight” rating in a research report on Wednesday, August 7th. Royal Bank of Canada lowered Kenvue from an “outperform” rating to a “sector perform” rating and set a $24.00 price objective on the stock. in a report on Tuesday, September 24th. Piper Sandler boosted their target price on Kenvue from $20.00 to $21.00 and gave the company a “neutral” rating in a report on Monday, September 23rd. Finally, Deutsche Bank Aktiengesellschaft raised their price target on Kenvue from $23.00 to $24.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Kenvue currently has a consensus rating of “Hold” and an average target price of $22.10.

Kenvue Stock Performance

Shares of KVUE stock opened at $23.13 on Tuesday. The stock’s 50-day moving average price is $21.41 and its 200 day moving average price is $20.07. The company has a quick ratio of 0.68, a current ratio of 0.99 and a debt-to-equity ratio of 0.69. The stock has a market capitalization of $44.29 billion, a PE ratio of 29.65, a price-to-earnings-growth ratio of 2.92 and a beta of 1.40. Kenvue Inc. has a 52-week low of $17.67 and a 52-week high of $23.55.

Kenvue (NYSE:KVUE) last released its earnings results on Tuesday, August 6th. The company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.04. Kenvue had a return on equity of 21.80% and a net margin of 7.23%. The business had revenue of $4 billion for the quarter, compared to analyst estimates of $3.93 billion. During the same quarter in the previous year, the company posted $0.32 earnings per share. The company’s revenue for the quarter was down .3% compared to the same quarter last year. As a group, equities research analysts forecast that Kenvue Inc. will post 1.08 EPS for the current year.

Kenvue Increases Dividend

The company 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 was Wednesday, August 14th. This represents a $0.82 dividend on an annualized basis and a yield of 3.55%. This is an increase from Kenvue’s previous quarterly dividend of $0.20. Kenvue’s dividend payout ratio is presently 105.13%.

Kenvue 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.