Bessemer Group Inc. Purchases 5,177,404 Shares of Kenvue Inc. $KVUE

Bessemer Group Inc. boosted its position in Kenvue Inc. (NYSE:KVUE) by 156.2% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 8,491,343 shares of the company’s stock after acquiring an additional 5,177,404 shares during the quarter. Bessemer Group Inc.’s holdings in Kenvue were worth $146,475,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. New York Life Investment Management LLC increased its position in Kenvue by 109.2% in the 4th quarter. New York Life Investment Management LLC now owns 590,363 shares of the company’s stock valued at $10,184,000 after buying an additional 308,172 shares in the last quarter. Allworth Financial LP boosted its stake in Kenvue by 9.7% during the 4th quarter. Allworth Financial LP now owns 35,118 shares of the company’s stock valued at $606,000 after purchasing an additional 3,109 shares during the last quarter. Independent Advisor Alliance boosted its stake in Kenvue by 65.6% during the 4th quarter. Independent Advisor Alliance now owns 73,417 shares of the company’s stock valued at $1,266,000 after purchasing an additional 29,087 shares during the last quarter. World Investment Advisors boosted its stake in Kenvue by 60.9% during the 4th quarter. World Investment Advisors now owns 19,670 shares of the company’s stock valued at $339,000 after purchasing an additional 7,444 shares during the last quarter. Finally, ELCO Management Co. LLC boosted its stake in Kenvue by 55.2% during the 4th quarter. ELCO Management Co. LLC now owns 25,670 shares of the company’s stock valued at $443,000 after purchasing an additional 9,125 shares during the last quarter. 97.64% of the stock is owned by institutional investors.

Insider Buying and Selling at Kenvue

In other news, General Counsel Matthew Orlando sold 38,491 shares of the business’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $17.66, for a total value of $679,751.06. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.59% of the stock is owned by insiders.

Kenvue Price Performance

Shares of NYSE KVUE opened at $17.18 on Friday. Kenvue Inc. has a twelve month low of $14.02 and a twelve month high of $24.35. The stock’s 50 day moving average price is $17.50 and its 200-day moving average price is $17.32. The company has a market capitalization of $32.98 billion, a PE ratio of 20.21, a PEG ratio of 1.30 and a beta of 0.55. The company has a quick ratio of 0.68, a current ratio of 0.98 and a debt-to-equity ratio of 0.67.

Kenvue (NYSE:KVUE) last announced its earnings results on Thursday, May 7th. The company reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.05. Kenvue had a return on equity of 20.81% and a net margin of 10.61%.The firm had revenue of $3.91 billion for the quarter, compared to the consensus estimate of $3.84 billion. During the same quarter in the previous year, the business earned $0.24 EPS. The company’s revenue was up 4.5% compared to the same quarter last year. On average, equities analysts anticipate that Kenvue Inc. will post 1.16 EPS for the current year.

Kenvue Dividend Announcement

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

Analyst Ratings Changes

A number of research firms have issued reports on KVUE. Zacks Research upgraded Kenvue from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 8th. Canaccord Genuity Group lifted their price target on Kenvue from $17.00 to $18.00 and gave the company a “hold” rating in a research note on Wednesday, February 18th. Citigroup cut their price target on Kenvue from $20.00 to $19.00 and set a “neutral” rating for the company in a research note on Wednesday, April 15th. Jefferies Financial Group downgraded Kenvue from a “buy” rating to a “hold” rating and cut their price target for the company from $23.00 to $18.00 in a research note on Friday, January 30th. Finally, Barclays cut their price target on Kenvue from $19.00 to $18.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 14th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and twelve have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $19.33.

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.