Maverick Capital Ltd. Buys Shares of 92,009 Kenvue Inc. $KVUE

Maverick Capital Ltd. acquired a new position in Kenvue Inc. (NYSE:KVUE) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 92,009 shares of the company’s stock, valued at approximately $1,586,000.

Several other large investors have also added to or reduced their stakes in the business. Oak Thistle LLC bought a new position in shares of Kenvue during the fourth quarter worth approximately $1,563,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in Kenvue by 25.8% in the 4th 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 period. Calamos Advisors LLC boosted its stake in Kenvue by 24.1% in the 1st quarter. Calamos Advisors LLC now owns 3,351,000 shares of the company’s stock valued at $57,771,000 after purchasing an additional 651,000 shares during the period. Cohen Capital Management Inc. acquired a new position in Kenvue in the 4th quarter valued at $2,448,000. Finally, State of Wyoming grew 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 buying an additional 68,609 shares in the last quarter. Institutional investors and hedge funds own 97.64% of the company’s stock.

Insider Activity

In other Kenvue news, General Counsel Matthew Orlando sold 38,491 shares of Kenvue 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 Securities & Exchange Commission, which is available through this hyperlink. 1.59% of the stock is owned by corporate insiders.

Kenvue Stock Performance

Shares of Kenvue stock opened at $19.43 on Tuesday. Kenvue Inc. has a fifty-two week low of $14.02 and a fifty-two week high of $22.74. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.98 and a quick ratio of 0.70. The firm has a market capitalization of $37.32 billion, a P/E ratio of 22.86, a P/E/G ratio of 1.46 and a beta of 0.47. The company’s 50 day moving average price is $18.42 and its two-hundred day moving average price is $17.94.

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

Kenvue Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 27th. Stockholders of record on Wednesday, May 13th were given a $0.2075 dividend. The ex-dividend date of this dividend was Wednesday, May 13th. This represents a $0.83 annualized dividend and a dividend yield of 4.3%. Kenvue’s dividend payout ratio (DPR) is 97.65%.

Analyst Ratings Changes

Several brokerages have weighed in on KVUE. UBS Group lifted their price objective on shares of Kenvue from $18.00 to $20.00 and gave the stock a “neutral” rating in a research note on Thursday, July 16th. Zacks Research lowered shares of Kenvue from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 7th. Barclays raised their target price on shares of Kenvue from $18.00 to $19.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 21st. Weiss Ratings upgraded shares of Kenvue from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, June 15th. Finally, Wall Street Zen upgraded Kenvue to a “buy” rating in a research note on Sunday, July 12th. Three investment analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the stock. Based on data from MarketBeat, Kenvue presently has an average rating of “Hold” and a consensus price target of $19.58.

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.