7,600,073 Shares in Kenvue Inc. $KVUE Purchased by Equity Investment Corp

Equity Investment Corp purchased a new stake in Kenvue Inc. (NYSE:KVUE) during the 2nd quarter, Holdings Channel reports. The firm purchased 7,600,073 shares of the company’s stock, valued at approximately $145,237,000. Kenvue accounts for about 2.8% of Equity Investment Corp’s holdings, making the stock its 10th largest position.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in KVUE. CoreCap Advisors LLC raised its position in shares of Kenvue by 64.9% in the second quarter. CoreCap Advisors LLC now owns 1,502 shares of the company’s stock valued at $29,000 after buying an additional 591 shares during the last quarter. Montag A & Associates Inc. raised its position in shares of Kenvue by 6.3% in the 1st quarter. Montag A & Associates Inc. now owns 10,156 shares of the company’s stock worth $175,000 after buying an additional 600 shares during the period. Cornerstone Wealth Group LLC lifted its stake in shares of Kenvue by 5.9% in the 1st quarter. Cornerstone Wealth Group LLC now owns 10,810 shares of the company’s stock valued at $187,000 after purchasing an additional 606 shares in the last quarter. Physician Wealth Advisors Inc. lifted its position in Kenvue by 67.5% during the fourth quarter. Physician Wealth Advisors Inc. now owns 1,533 shares of the company’s stock valued at $26,000 after buying an additional 618 shares in the last quarter. Finally, Mill Creek Capital Advisors LLC boosted its position in Kenvue by 0.6% during the 4th quarter. Mill Creek Capital Advisors LLC now owns 124,213 shares of the company’s stock worth $2,143,000 after purchasing an additional 701 shares during the period. Hedge funds and other institutional investors own 97.64% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Kenvue Trading Up 0.2%

NYSE:KVUE opened at $18.82 on Wednesday. The stock has a fifty day simple moving average of $19.00 and a 200 day simple moving average of $18.16. 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. Kenvue Inc. has a 1-year low of $14.02 and a 1-year high of $21.84. The company has a quick ratio of 0.71, a current ratio of 1.01 and a debt-to-equity ratio of 0.67.

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

Kenvue Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Wednesday, August 12th will be issued a dividend of $0.21 per share. This is an increase from Kenvue’s previous quarterly dividend of $0.21. This represents a $0.84 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date is Wednesday, August 12th. Kenvue’s dividend payout ratio (DPR) is presently 96.55%.

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.