Highbridge Capital Management LLC Makes New $20.26 Million Investment in Kenvue Inc. $KVUE

Highbridge Capital Management LLC acquired a new position in Kenvue Inc. (NYSE:KVUE) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,174,353 shares of the company’s stock, valued at approximately $20,258,000. Highbridge Capital Management LLC owned approximately 0.06% of Kenvue at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in KVUE. Norges Bank bought a new position in Kenvue in the 4th quarter worth $756,862,000. Van ECK Associates Corp grew its position in shares of Kenvue by 101.3% in the 3rd quarter. Van ECK Associates Corp now owns 18,361,581 shares of the company’s stock worth $298,008,000 after buying an additional 9,240,434 shares during the period. American Century Companies Inc. grew its position in shares of Kenvue by 22.4% in the 3rd quarter. American Century Companies Inc. now owns 37,046,660 shares of the company’s stock worth $601,267,000 after buying an additional 6,781,640 shares during the period. Bessemer Group Inc. grew its position in shares of Kenvue by 156.2% in the 4th quarter. Bessemer Group Inc. now owns 8,491,343 shares of the company’s stock worth $146,475,000 after buying an additional 5,177,404 shares during the period. Finally, Mondrian Investment Partners LTD purchased a new stake in shares of Kenvue in the 3rd quarter worth about $79,269,000. 97.64% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, General Counsel Matthew Orlando sold 38,491 shares of the stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $17.66, for a total transaction of $679,751.06. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.59% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Zacks Research raised shares of Kenvue from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 8th. Argus raised shares of Kenvue to a “hold” rating in a research report on Friday, March 6th. Canaccord Genuity Group upped their target price on shares of Kenvue from $17.00 to $18.00 and gave the stock a “hold” rating in a research report on Wednesday, February 18th. Citigroup reduced their target price on shares of Kenvue from $20.00 to $19.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 15th. Finally, Weiss Ratings downgraded shares of Kenvue from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday, May 29th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and twelve have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $19.33.

Kenvue Stock Performance

Shares of KVUE stock opened at $17.72 on Friday. Kenvue Inc. has a one year low of $14.02 and a one year high of $22.87. The company’s 50-day moving average is $17.37 and its 200 day moving average is $17.48. The company has a market capitalization of $34.01 billion, a price-to-earnings ratio of 20.84, a price-to-earnings-growth ratio of 1.28 and a beta of 0.54. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.70 and a current ratio of 0.98.

Kenvue (NYSE:KVUE) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.27 by $0.05. Kenvue had a net margin of 10.61% and a return on equity of 20.81%. The company had revenue of $3.91 billion for the quarter, compared to the consensus estimate of $3.84 billion. During the same period in the prior year, the firm posted $0.24 EPS. Kenvue’s revenue for the quarter was up 4.5% on a year-over-year basis. Sell-side analysts expect that Kenvue Inc. will post 1.16 EPS for the current fiscal year.

Kenvue Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 27th. Investors of record on Wednesday, May 13th were given a dividend of $0.2075 per share. This represents a $0.83 annualized dividend and a yield of 4.7%. The ex-dividend date of this dividend was Wednesday, May 13th. Kenvue’s dividend payout ratio is 97.65%.

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.