Canada Pension Plan Investment Board Has $70.89 Million Stock Holdings in Kenvue Inc. (NYSE:KVUE)

Canada Pension Plan Investment Board raised its position in Kenvue Inc. (NYSE:KVUE) by 2.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,303,207 shares of the company’s stock after buying an additional 70,533 shares during the quarter. Canada Pension Plan Investment Board owned 0.17% of Kenvue worth $70,887,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Manchester Capital Management LLC lifted 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 worth $25,000 after buying an additional 530 shares during the last quarter. Planned Solutions Inc. bought a new stake in shares of Kenvue during the 4th quarter worth $27,000. Pacific Capital Wealth Advisors Inc. bought a new stake in shares of Kenvue during the 4th quarter worth $28,000. Mather Group LLC. bought a new stake in shares of Kenvue during the 1st quarter worth $28,000. Finally, Oakworth Capital Inc. bought a new stake in shares of Kenvue during the 1st quarter worth $31,000. 97.64% of the stock is owned by institutional investors and hedge funds.

Kenvue Price Performance

Kenvue stock opened at $18.69 on Friday. Kenvue Inc. has a 52 week low of $17.67 and a 52 week high of $25.00. The business has a 50-day simple moving average of $18.59 and a 200 day simple moving average of $19.54. The company has a quick ratio of 0.68, a current ratio of 0.99 and a debt-to-equity ratio of 0.66. The stock has a market cap of $35.79 billion, a price-to-earnings ratio of 23.96, a PEG ratio of 2.05 and a beta of 1.40.

Kenvue (NYSE:KVUE) last posted its earnings results on Tuesday, May 7th. The company reported $0.28 EPS for the quarter, topping the consensus estimate of $0.25 by $0.03. Kenvue had a return on equity of 21.06% and a net margin of 9.63%. The business had revenue of $2.89 billion during the quarter, compared to analysts’ expectations of $3.79 billion. The firm’s revenue was down 24.9% on a year-over-year basis. On average, research analysts forecast that Kenvue Inc. will post 1.13 earnings per share for the current fiscal year.

Kenvue Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 28th. Stockholders of record on Wednesday, August 14th will be issued a $0.205 dividend. This is a boost from Kenvue’s previous quarterly dividend of $0.20. This represents a $0.82 dividend on an annualized basis and a dividend yield of 4.39%. The ex-dividend date of this dividend is Wednesday, August 14th. Kenvue’s dividend payout ratio is presently 102.56%.

Analysts Set New Price Targets

Several research firms have commented on KVUE. JPMorgan Chase & Co. dropped their target price on Kenvue from $23.00 to $22.00 and set an “overweight” rating for the company in a research report on Monday, July 22nd. Deutsche Bank Aktiengesellschaft dropped their target price on Kenvue from $24.00 to $23.00 and set a “buy” rating for the company in a research report on Thursday. William Blair began coverage on Kenvue in a research report on Wednesday, April 3rd. They issued a “market perform” rating for the company. Sanford C. Bernstein began coverage on Kenvue in a research report on Thursday, April 11th. They issued an “underperform” rating and a $18.00 target price for the company. Finally, Citigroup dropped their target price on Kenvue from $21.00 to $20.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $22.45.

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.