Plato Investment Management Ltd Buys New Shares in Kenvue Inc. $KVUE

Plato Investment Management Ltd bought a new position in Kenvue Inc. (NYSE:KVUE) during the 2nd quarter, Holdings Channel.com reports. The institutional investor bought 68,363 shares of the company’s stock, valued at approximately $1,299,000.

A number of other institutional investors have also recently bought and sold shares of KVUE. Mirae Asset Global Investments Co. Ltd. lifted its position in 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 buying an additional 84,219 shares in the last quarter. Calamos Advisors LLC boosted its position in Kenvue by 24.1% during the 1st 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 during the period. State of Wyoming increased its holdings in Kenvue by 233.5% in the 4th quarter. State of Wyoming now owns 97,992 shares of the company’s stock valued at $1,690,000 after purchasing an additional 68,609 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its position in Kenvue by 21.5% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 3,491,548 shares of the company’s stock valued at $60,229,000 after purchasing an additional 618,720 shares during the period. Finally, Cullen Frost Bankers Inc. lifted its stake in shares of Kenvue by 19.9% during the fourth quarter. Cullen Frost Bankers Inc. now owns 431,394 shares of the company’s stock worth $7,442,000 after purchasing an additional 71,591 shares in the last quarter. 97.64% of the stock is currently owned by hedge funds and other institutional investors.

Kenvue Stock Down 1.9%

NYSE:KVUE opened at $18.83 on Tuesday. 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 company has a market capitalization of $36.17 billion, a price-to-earnings ratio of 21.64, a price-to-earnings-growth ratio of 1.37 and a beta of 0.47. Kenvue Inc. has a one year low of $14.02 and a one year high of $21.84. The stock has a 50-day simple moving average of $18.98 and a 200 day simple moving average of $18.15.

Kenvue (NYSE:KVUE) last released its earnings results 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 for the quarter, compared to the consensus estimate of $3.97 billion. Kenvue had a return on equity of 21.22% and a net margin of 10.76%.The company’s quarterly revenue was up 3.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.29 EPS. Sell-side analysts predict that Kenvue Inc. will post 1.14 EPS for the current fiscal year.

Kenvue Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 26th. Shareholders 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. This represents a $0.84 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date of this dividend is Wednesday, August 12th. Kenvue’s dividend payout ratio is presently 96.55%.

Wall Street Analyst Weigh In

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

Kenvue 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.