1,420,526 Shares in Kenvue Inc. $KVUE Bought by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company bought a new position in shares of Kenvue Inc. (NYSE:KVUE) in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 1,420,526 shares of the company’s stock, valued at approximately $27,146,000. The Manufacturers Life Insurance Company owned approximately 0.07% of Kenvue at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of KVUE. Callan Family Office LLC acquired a new stake in shares of Kenvue in the second quarter valued at approximately $835,000. Calamos Advisors LLC lifted its position in shares of Kenvue by 24.1% in the first quarter. Calamos Advisors LLC now owns 3,351,000 shares of the company’s stock worth $57,771,000 after purchasing an additional 651,000 shares in the last quarter. State of Wyoming lifted its position in shares of Kenvue by 233.5% in the fourth quarter. State of Wyoming now owns 97,992 shares of the company’s stock worth $1,690,000 after purchasing an additional 68,609 shares in the last quarter. Nomura Asset Management Co. Ltd. boosted its holdings in Kenvue by 21.5% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 3,491,548 shares of the company’s stock worth $60,229,000 after purchasing an additional 618,720 shares during the last quarter. Finally, Nuance Investments LLC acquired a new position in Kenvue during the second quarter worth $27,681,000. Institutional investors and hedge funds own 97.64% of the company’s stock.

Wall Street Analysts Forecast Growth

KVUE has been the topic of several recent research reports. Weiss Ratings upgraded shares of Kenvue from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, June 15th. Wall Street Zen downgraded shares of Kenvue from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Barclays raised 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. UBS Group dropped their target price on Kenvue from $20.00 to $19.00 and set a “neutral” rating on the stock in a report on Tuesday, August 11th. Finally, Zacks Research cut Kenvue from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 7th. Three analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $19.27.

Kenvue Stock Performance

NYSE KVUE opened at $19.20 on Friday. The company has a current ratio of 1.01, a quick ratio of 0.71 and a debt-to-equity ratio of 0.67. The firm’s fifty day moving average price is $19.14 and its two-hundred day moving average price is $18.24. Kenvue Inc. has a 1 year low of $14.02 and a 1 year high of $20.82. The firm has a market capitalization of $36.87 billion, a P/E ratio of 22.06, a price-to-earnings-growth ratio of 1.38 and a beta of 0.47.

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

Kenvue Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 26th. Investors of record on Wednesday, August 12th were paid a $0.21 dividend. This is an increase from Kenvue’s previous quarterly dividend of $0.21. The ex-dividend date was Wednesday, August 12th. This represents a $0.84 annualized dividend and a yield of 4.4%. Kenvue’s dividend payout ratio (DPR) is 96.55%.

About Kenvue

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.