M&G Plc Raises Stake in Kenvue Inc. (NYSE:KVUE)

M&G Plc raised its holdings in Kenvue Inc. (NYSE:KVUE) by 21.1% during the second quarter, HoldingsChannel reports. The firm owned 680,442 shares of the company’s stock after buying an additional 118,402 shares during the period. M&G Plc’s holdings in Kenvue were worth $12,248,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in KVUE. Price T Rowe Associates Inc. MD grew its stake in shares of Kenvue by 23.1% in the 1st 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 purchasing an additional 25,238,112 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Kenvue by 12.0% during the first quarter. Vanguard Group Inc. now owns 166,789,085 shares of the company’s stock worth $3,579,294,000 after purchasing an additional 17,908,497 shares during the period. Norges Bank purchased a new position in Kenvue in the 4th quarter valued at $282,100,000. Clearbridge Investments LLC increased its stake in Kenvue by 16,051.1% in the 1st quarter. Clearbridge Investments LLC now owns 9,813,597 shares of the company’s stock valued at $210,600,000 after buying an additional 9,752,836 shares during the period. Finally, Van ECK Associates Corp purchased a new position in Kenvue during the 1st quarter worth $208,745,000. 97.64% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on KVUE. Deutsche Bank Aktiengesellschaft boosted their price target 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. HSBC boosted their target price on Kenvue from $20.00 to $21.00 and gave the stock a “hold” rating in a research report on Wednesday, May 8th. Citigroup decreased their price target on Kenvue from $21.00 to $20.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. Royal Bank of Canada reiterated an “outperform” rating and issued a $24.00 price target on shares of Kenvue in a report on Wednesday, August 7th. Finally, UBS Group boosted their price target on Kenvue from $20.00 to $22.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $22.64.

Kenvue Stock Up 1.2 %

NYSE KVUE opened at $21.34 on Wednesday. The company has a quick ratio of 0.68, a current ratio of 0.99 and a debt-to-equity ratio of 0.66. Kenvue Inc. has a fifty-two week low of $17.67 and a fifty-two week high of $24.10. The business has a 50 day moving average price of $18.70 and a two-hundred day moving average price of $19.42. The stock has a market cap of $40.86 billion, a PE ratio of 27.36, a P/E/G ratio of 2.07 and a beta of 1.38.

Kenvue (NYSE:KVUE) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.04. The firm had revenue of $4 billion during the quarter, compared to the consensus estimate of $3.93 billion. Kenvue had a return on equity of 21.06% and a net margin of 9.63%. Kenvue’s revenue for the quarter was down .3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.32 earnings per share. As a group, sell-side analysts predict that Kenvue Inc. will post 1.13 EPS for the current fiscal year.

Kenvue Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 28th. Shareholders of record on Wednesday, August 14th will be paid a $0.205 dividend. 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 3.84%. The ex-dividend date is Wednesday, August 14th. Kenvue’s 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.