Mitsubishi UFJ Asset Management Co. Ltd. Takes $96.09 Million Position in Kenvue Inc. $KVUE

Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in Kenvue Inc. (NYSE:KVUE) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 5,028,337 shares of the company’s stock, valued at approximately $96,092,000. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.26% of Kenvue at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Arrowstreet Capital Limited Partnership bought a new position in Kenvue in the second quarter worth about $6,528,000. Jump Financial LLC grew its position in shares of Kenvue by 210.6% in the 2nd quarter. Jump Financial LLC now owns 54,823 shares of the company’s stock worth $1,147,000 after buying an additional 37,170 shares during the last quarter. AXA S.A. grew its position in shares of Kenvue by 21.1% in the 2nd quarter. AXA S.A. now owns 48,892 shares of the company’s stock worth $1,023,000 after buying an additional 8,524 shares during the last quarter. NewEdge Advisors LLC raised its stake in shares of Kenvue by 219.1% during the 2nd quarter. NewEdge Advisors LLC now owns 97,481 shares of the company’s stock worth $2,040,000 after acquiring an additional 66,930 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in shares of Kenvue by 0.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,873,705 shares of the company’s stock worth $39,217,000 after acquiring an additional 10,885 shares in the last quarter. 97.64% of the stock is currently owned by hedge funds and other institutional investors.

Kenvue Stock Performance

Shares of KVUE stock opened at $18.82 on Wednesday. The firm has a market capitalization of $36.15 billion, a price-to-earnings ratio of 21.63, a price-to-earnings-growth ratio of 1.37 and a beta of 0.47. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.01 and a quick ratio of 0.71. The business has a fifty day moving average of $19.00 and a 200 day moving average of $18.16. Kenvue Inc. has a 1 year low of $14.02 and a 1 year high of $21.84.

Kenvue (NYSE:KVUE) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.01). Kenvue had a net margin of 10.76% and a return on equity of 21.22%. The firm had revenue of $3.96 billion during the quarter, compared to analyst estimates of $3.97 billion. During the same period in the prior year, the company posted $0.29 earnings per share. The firm’s revenue for the quarter was up 3.0% on a year-over-year basis. As a group, research analysts expect that Kenvue Inc. will post 1.14 earnings per share for the current year.

Kenvue Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Investors of record on Wednesday, August 12th will be issued a $0.21 dividend. This is a boost from Kenvue’s previous quarterly dividend of $0.21. The ex-dividend date is Wednesday, August 12th. This represents a $0.84 annualized dividend and a yield of 4.5%. Kenvue’s dividend payout ratio is currently 96.55%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on KVUE. Wall Street Zen downgraded shares of Kenvue from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Weiss Ratings raised Kenvue from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, June 15th. Barclays increased their price objective on Kenvue from $18.00 to $19.00 and gave the company an “equal weight” rating in a report on Tuesday, July 21st. Zacks Research cut Kenvue from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 7th. Finally, UBS Group dropped their target price on Kenvue from $20.00 to $19.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 11th. Three investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $19.27.

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.