Ilmarinen Mutual Pension Insurance Co Invests $4.83 Million in Kenvue Inc. $KVUE

Ilmarinen Mutual Pension Insurance Co purchased a new position in Kenvue Inc. (NYSE:KVUE) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 280,000 shares of the company’s stock, valued at approximately $4,830,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Aberdeen Group plc lifted its stake in Kenvue by 84.1% during the 3rd quarter. Aberdeen Group plc now owns 1,411,380 shares of the company’s stock valued at $22,914,000 after acquiring an additional 644,930 shares during the period. Oak Thistle LLC bought a new position in Kenvue in the 4th quarter worth $1,563,000. Eubel Brady & Suttman Asset Management Inc. raised its stake in Kenvue by 39.7% during the 3rd quarter. Eubel Brady & Suttman Asset Management Inc. now owns 1,371,886 shares of the company’s stock worth $22,266,000 after acquiring an additional 389,704 shares during the period. SG Americas Securities LLC raised its stake in Kenvue by 3,889.9% during the 4th quarter. SG Americas Securities LLC now owns 3,075,723 shares of the company’s stock worth $53,056,000 after acquiring an additional 2,998,635 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in Kenvue by 25.8% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 410,874 shares of the company’s stock valued at $7,088,000 after acquiring an additional 84,219 shares during the period. 97.64% of the stock is owned by institutional investors.

Insider Buying and Selling at Kenvue

In related news, General Counsel Matthew Orlando sold 38,491 shares of Kenvue stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $17.66, for a total value of $679,751.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.59% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Canaccord Genuity Group raised their price target on Kenvue from $17.00 to $18.00 and gave the company a “hold” rating in a report on Wednesday, February 18th. Jefferies Financial Group cut shares of Kenvue from a “buy” rating to a “hold” rating and reduced their price target for the stock from $23.00 to $18.00 in a research report on Friday, January 30th. Zacks Research upgraded shares of Kenvue from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 8th. UBS Group cut their target price on Kenvue from $19.00 to $18.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 7th. Finally, Citigroup cut their price target on shares of Kenvue from $20.00 to $19.00 and set a “neutral” rating on the stock in a report on Wednesday, April 15th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and twelve have given a Hold rating to the stock. According to MarketBeat, Kenvue presently has an average rating of “Hold” and an average price target of $19.33.

Kenvue Price Performance

Kenvue stock opened at $17.29 on Friday. The company has a 50-day moving average price of $17.40 and a 200 day moving average price of $17.46. The company has a current ratio of 0.98, a quick ratio of 0.70 and a debt-to-equity ratio of 0.67. The stock has a market cap of $33.19 billion, a P/E ratio of 20.34, a PEG ratio of 1.34 and a beta of 0.55. Kenvue Inc. has a 12-month low of $14.02 and a 12-month high of $23.90.

Kenvue (NYSE:KVUE) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.05. Kenvue had a net margin of 10.61% and a return on equity of 20.81%. The business had revenue of $3.91 billion during the quarter, compared to analysts’ expectations of $3.84 billion. During the same period last year, the business earned $0.24 earnings per share. The business’s revenue for the quarter was up 4.5% on a year-over-year basis. Sell-side analysts anticipate that Kenvue Inc. will post 1.16 earnings per share for the current year.

Kenvue Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 27th. Stockholders of record on Wednesday, May 13th were paid a $0.2075 dividend. The ex-dividend date of this dividend was Wednesday, May 13th. This represents a $0.83 dividend on an annualized basis and a dividend yield of 4.8%. Kenvue’s payout ratio is presently 97.65%.

Kenvue Company Profile

Kenvue is a consumer health company that was established as a standalone, publicly traded business after separating from Johnson & Johnson. Listed on the New York Stock Exchange under the symbol KVUE, Kenvue focuses on the development, manufacture, marketing and distribution of consumer health and personal care products across a range of categories including skin and beauty care, baby care, oral care, wound care and over?the?counter medicines.

The company owns and markets a portfolio of widely recognized consumer brands, including names familiar to global shoppers across retail and pharmacy channels.