NINE MASTS CAPITAL Ltd Invests $20.26 Million in Kenvue Inc. $KVUE

NINE MASTS CAPITAL Ltd acquired a new stake in Kenvue Inc. (NYSE:KVUE) during the second quarter, Holdings Channel reports. The institutional investor acquired 1,059,993 shares of the company’s stock, valued at approximately $20,256,000. Kenvue accounts for about 2.0% of NINE MASTS CAPITAL Ltd’s portfolio, making the stock its 7th biggest position.

A number of other institutional investors have also made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. increased 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 buying an additional 84,219 shares during the last quarter. Calamos Advisors LLC boosted its stake in shares of 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 buying an additional 651,000 shares during the last quarter. State of Wyoming grew its holdings in shares of 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 acquiring an additional 68,609 shares in the last quarter. Nomura Asset Management Co. Ltd. increased its position in shares of 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 acquiring an additional 618,720 shares during the last quarter. Finally, Cullen Frost Bankers Inc. increased its position in shares of Kenvue by 19.9% in the fourth quarter. Cullen Frost Bankers Inc. now owns 431,394 shares of the company’s stock valued at $7,442,000 after acquiring an additional 71,591 shares during the last quarter. Institutional investors own 97.64% of the company’s stock.

Analyst Upgrades and Downgrades

KVUE has been the topic of several analyst reports. Zacks Research lowered Kenvue from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 7th. UBS Group lowered their price target on Kenvue from $20.00 to $19.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 11th. Barclays upped their price objective on Kenvue from $18.00 to $19.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 21st. Weiss Ratings raised Kenvue from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, June 15th. Finally, Wall Street Zen cut shares of Kenvue from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Three analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Kenvue presently has an average rating of “Hold” and a consensus price target of $19.27.

Kenvue Stock Down 1.9%

Shares of KVUE stock 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 firm’s 50-day moving average is $18.98 and its 200-day moving average is $18.15. The stock has a market cap of $36.17 billion, a price-to-earnings ratio of 21.64, a PEG ratio of 1.37 and a beta of 0.47. Kenvue Inc. has a 52-week low of $14.02 and a 52-week high of $21.84.

Kenvue (NYSE:KVUE) last posted its quarterly 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 business 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 revenue for the quarter was up 3.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.29 EPS. Sell-side analysts predict that Kenvue Inc. will post 1.14 EPS for the current year.

Kenvue Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Shareholders of record on Wednesday, August 12th will be issued a dividend of $0.21 per share. The ex-dividend date of this dividend is Wednesday, August 12th. This represents a $0.84 annualized dividend and a yield of 4.5%. This is a positive change from Kenvue’s previous quarterly dividend of $0.21. Kenvue’s payout ratio is 96.55%.

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.