Handelsbanken Fonder AB Has $21.75 Million Position in Kenvue Inc. $KVUE

Handelsbanken Fonder AB raised its holdings in shares of Kenvue Inc. (NYSE:KVUE) by 6.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,138,036 shares of the company’s stock after purchasing an additional 69,659 shares during the quarter. Handelsbanken Fonder AB owned 0.06% of Kenvue worth $21,748,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of KVUE. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of 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 purchasing an additional 84,219 shares during the last quarter. Calamos Advisors LLC lifted its stake in Kenvue by 24.1% in the first quarter. Calamos Advisors LLC now owns 3,351,000 shares of the company’s stock valued at $57,771,000 after buying an additional 651,000 shares during the period. 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 buying an additional 618,720 shares during the last quarter. State of Wyoming grew its position in shares of Kenvue by 233.5% during the 4th quarter. State of Wyoming now owns 97,992 shares of the company’s stock worth $1,690,000 after buying an additional 68,609 shares during the period. Finally, Cullen Frost Bankers Inc. grew its position in shares of Kenvue by 19.9% during the 4th quarter. Cullen Frost Bankers Inc. now owns 431,394 shares of the company’s stock worth $7,442,000 after buying an additional 71,591 shares during the period. Institutional investors and hedge funds own 97.64% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on KVUE shares. Barclays increased their price target on shares of Kenvue from $18.00 to $19.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 21st. Citigroup lowered their target price on shares of Kenvue from $20.00 to $19.00 and set a “neutral” rating for the company in a research note on Wednesday, April 15th. Weiss Ratings raised shares of Kenvue from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, June 15th. Wall Street Zen lowered shares of Kenvue from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Finally, Zacks Research cut shares of Kenvue from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 7th. Three investment analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Kenvue currently has a consensus rating of “Hold” and an average target price of $19.27.

Kenvue Price Performance

Shares of KVUE opened at $18.97 on Thursday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.71 and a current ratio of 1.01. The stock has a 50 day simple moving average of $18.88 and a 200 day simple moving average of $18.12. Kenvue Inc. has a 52-week low of $14.02 and a 52-week high of $21.95. The firm has a market capitalization of $36.44 billion, a PE ratio of 21.80, a P/E/G ratio of 1.36 and a beta of 0.47.

Kenvue (NYSE:KVUE) last announced its earnings results on Thursday, August 6th. The company reported $0.31 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 last year, the business posted $0.29 earnings per share. The business’s quarterly revenue was up 3.0% on a year-over-year basis. Sell-side analysts predict that Kenvue Inc. will post 1.14 EPS for the current fiscal year.

Kenvue Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Wednesday, August 12th will be given a dividend of $0.21 per share. This is a positive change from Kenvue’s previous quarterly dividend of $0.21. This represents a $0.84 annualized dividend and a dividend yield of 4.4%. The ex-dividend date of this dividend is Wednesday, August 12th. Kenvue’s payout ratio is currently 95.40%.

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.