Van ECK Associates Corp Buys 2,606,506 Shares of Kenvue Inc. $KVUE

Van ECK Associates Corp lifted its holdings in shares of Kenvue Inc. (NYSE:KVUE) by 14.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 20,968,087 shares of the company’s stock after acquiring an additional 2,606,506 shares during the quarter. Van ECK Associates Corp’s holdings in Kenvue were worth $361,699,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Elyxium Wealth LLC purchased a new stake in shares of Kenvue during the fourth quarter valued at approximately $26,000. Physician Wealth Advisors Inc. grew its holdings 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 purchasing an additional 618 shares during the period. SBI Securities Co. Ltd. grew its holdings in Kenvue by 82.4% during the fourth quarter. SBI Securities Co. Ltd. now owns 2,273 shares of the company’s stock valued at $39,000 after purchasing an additional 1,027 shares during the period. Leonteq Securities AG bought a new position in Kenvue during the fourth quarter valued at $45,000. Finally, Hantz Financial Services Inc. lifted its position in shares of Kenvue by 157.2% during the third quarter. Hantz Financial Services Inc. now owns 2,850 shares of the company’s stock worth $46,000 after acquiring an additional 1,742 shares in the last quarter. 97.64% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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

Kenvue Trading Up 0.3%

Shares of KVUE stock opened at $18.13 on Friday. 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 Inc. has a 52-week low of $14.02 and a 52-week high of $22.87. The company has a market capitalization of $34.80 billion, a PE ratio of 21.32, a price-to-earnings-growth ratio of 1.37 and a beta of 0.54. The business’s fifty day moving average is $17.43 and its 200 day moving average is $17.53.

Kenvue (NYSE:KVUE) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.32 earnings per share for the quarter, beating 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 business had revenue of $3.91 billion for the quarter, compared to the consensus estimate of $3.84 billion. During the same quarter last year, the business posted $0.24 earnings per share. The company’s revenue for the quarter was up 4.5% on a year-over-year basis. On average, equities research analysts anticipate that Kenvue Inc. will post 1.16 EPS for the current fiscal year.

Kenvue Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 27th. Shareholders of record on Wednesday, May 13th were given a dividend of $0.2075 per share. The ex-dividend date was Wednesday, May 13th. This represents a $0.83 dividend on an annualized basis and a yield of 4.6%. Kenvue’s dividend payout ratio (DPR) is presently 97.65%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on KVUE. Canaccord Genuity Group increased their price objective on Kenvue from $17.00 to $18.00 and gave the stock a “hold” rating in a research report on Wednesday, February 18th. Argus upgraded Kenvue to a “hold” rating in a research report on Friday, March 6th. Zacks Research upgraded Kenvue from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 8th. Barclays lowered their price objective on Kenvue from $19.00 to $18.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 14th. Finally, Weiss Ratings downgraded Kenvue from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday, May 29th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and twelve have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $19.33.

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.