Great Lakes Advisors LLC Makes New $1.50 Million Investment in Kenvue Inc. $KVUE

Great Lakes Advisors LLC bought a new position in shares of Kenvue Inc. (NYSE:KVUE) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 78,650 shares of the company’s stock, valued at approximately $1,503,000.

Other institutional investors have also recently modified their holdings of the company. BlackRock Inc. acquired a new position in Kenvue in the 2nd quarter worth about $2,882,279,000. Norges Bank acquired a new stake in Kenvue in the fourth quarter valued at approximately $756,862,000. Independent Franchise Partners LLP increased its position in shares of Kenvue by 56.3% in the fourth quarter. Independent Franchise Partners LLP now owns 48,146,476 shares of the company’s stock valued at $830,527,000 after buying an additional 17,343,785 shares in the last quarter. Sculptor Capital LP increased its position in shares of Kenvue by 1,023.5% in the fourth quarter. Sculptor Capital LP now owns 12,886,328 shares of the company’s stock valued at $222,289,000 after buying an additional 11,739,328 shares in the last quarter. Finally, Bank of New York Mellon Corp acquired a new position in shares of Kenvue during the 2nd quarter worth approximately $192,080,000. 97.64% of the stock is currently owned by institutional investors and hedge funds.

Kenvue Price Performance

Kenvue stock opened at $19.08 on Friday. The company has a fifty day simple moving average of $19.05 and a 200-day simple moving average of $18.19. The firm has a market capitalization of $36.65 billion, a price-to-earnings ratio of 21.93, a PEG ratio of 1.36 and a beta of 0.47. The company has a quick ratio of 0.71, a current ratio of 1.01 and a debt-to-equity ratio of 0.67. Kenvue Inc. has a 52-week low of $14.02 and a 52-week high of $21.78.

Kenvue (NYSE:KVUE) last posted its quarterly earnings results on Thursday, August 6th. The company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.01). The business had revenue of $3.96 billion during the quarter, compared to analysts’ expectations of $3.97 billion. Kenvue had a return on equity of 21.22% and a net margin of 10.76%.The business’s quarterly revenue was up 3.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.29 earnings per share. On average, equities analysts anticipate that Kenvue Inc. will post 1.14 EPS for the current fiscal year.

Kenvue Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Wednesday, August 12th will be issued a dividend of $0.21 per share. The ex-dividend date is Wednesday, August 12th. This represents a $0.84 annualized dividend and a dividend yield of 4.4%. This is an increase from Kenvue’s previous quarterly dividend of $0.21. Kenvue’s payout ratio is presently 96.55%.

Analyst Ratings Changes

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

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.