Kenvue Inc. (NYSE:KVUE) Shares Bought by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in shares of Kenvue Inc. (NYSE:KVUE) by 17.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 194,872 shares of the company’s stock after purchasing an additional 29,562 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Kenvue were worth $3,543,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Manchester Capital Management LLC boosted its holdings in shares of Kenvue by 80.8% in the first quarter. Manchester Capital Management LLC now owns 1,186 shares of the company’s stock valued at $25,000 after acquiring an additional 530 shares in the last quarter. Pacific Capital Wealth Advisors Inc. acquired a new stake in Kenvue in the fourth quarter worth approximately $28,000. Mather Group LLC. bought a new position in Kenvue during the 1st quarter valued at $28,000. Riverview Trust Co acquired a new position in shares of Kenvue during the 1st quarter valued at $33,000. Finally, MV Capital Management Inc. raised its stake in shares of Kenvue by 71.2% in the 1st quarter. MV Capital Management Inc. now owns 1,544 shares of the company’s stock worth $33,000 after buying an additional 642 shares in the last quarter. 97.64% of the stock is currently owned by institutional investors.

Kenvue Stock Performance

Shares of NYSE KVUE opened at $21.94 on Friday. Kenvue Inc. has a one year low of $17.67 and a one year high of $23.33. The business’s 50-day moving average price is $19.54 and its two-hundred day moving average price is $19.56. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.99 and a quick ratio of 0.68. The company has a market capitalization of $42.01 billion, a P/E ratio of 28.13, a price-to-earnings-growth ratio of 2.07 and a beta of 1.38.

Kenvue (NYSE:KVUE) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.32 EPS for the quarter, beating the consensus estimate 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 return on equity of 21.06% and a net margin of 9.63%. The firm’s quarterly revenue was down .3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.32 EPS. Analysts anticipate that Kenvue Inc. will post 1.13 earnings per share for the current fiscal year.

Kenvue Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 28th. Stockholders of record on Wednesday, August 14th were paid a dividend of $0.205 per share. This is a positive change from Kenvue’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Wednesday, August 14th. This represents a $0.82 annualized dividend and a dividend yield of 3.74%. Kenvue’s dividend payout ratio is 105.13%.

Analyst Ratings Changes

Several brokerages recently weighed in on KVUE. Citigroup decreased their target price on Kenvue from $21.00 to $20.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. 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. JPMorgan Chase & Co. lifted their price target on shares of Kenvue from $22.00 to $24.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 7th. HSBC increased their price objective on Kenvue from $20.00 to $21.00 and gave the company a “hold” rating in a research report on Wednesday, May 8th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $24.00 target price on shares of Kenvue in a report on Wednesday, August 7th. One investment 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’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $22.64.

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.