Varma Mutual Pension Insurance Co Purchases Shares of 484,700 Kenvue Inc. $KVUE

Varma Mutual Pension Insurance Co purchased a new stake in Kenvue Inc. (NYSE:KVUE) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 484,700 shares of the company’s stock, valued at approximately $9,263,000.

Other institutional investors and hedge funds have also modified their holdings of the company. BlackRock Inc. acquired a new position in Kenvue in the 2nd quarter valued at $2,882,279,000. Norges Bank acquired a new position in Kenvue during the 4th quarter worth $756,862,000. Independent Franchise Partners LLP boosted its holdings in Kenvue by 56.3% during the fourth quarter. Independent Franchise Partners LLP now owns 48,146,476 shares of the company’s stock valued at $830,527,000 after acquiring an additional 17,343,785 shares during the period. Sculptor Capital LP boosted its holdings in Kenvue by 1,023.5% during the fourth quarter. Sculptor Capital LP now owns 12,886,328 shares of the company’s stock valued at $222,289,000 after acquiring an additional 11,739,328 shares during the period. Finally, Bank of New York Mellon Corp bought a new stake in Kenvue during the second quarter valued at about $192,080,000. 97.64% of the stock is currently owned by institutional investors and hedge funds.

Kenvue Price Performance

Shares of KVUE stock opened at $19.08 on Monday. Kenvue Inc. has a 12 month low of $14.02 and a 12 month high of $21.78. The company has a market capitalization of $36.65 billion, a P/E ratio of 21.93, a P/E/G ratio of 1.36 and a beta of 0.47. The stock has a 50 day moving average of $19.05 and a two-hundred day moving average of $18.20. The company has a current ratio of 1.01, a quick ratio of 0.71 and a debt-to-equity ratio of 0.67.

Kenvue (NYSE:KVUE) last issued its 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 firm had revenue of $3.96 billion during the quarter, compared to analyst estimates of $3.97 billion. Kenvue had a net margin of 10.76% and a return on equity of 21.22%. The business’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.29 earnings per share. As a group, equities analysts expect that Kenvue Inc. will post 1.14 EPS for the current year.

Kenvue Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Wednesday, August 12th will be paid a $0.21 dividend. The ex-dividend date is Wednesday, August 12th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 4.4%. This is a positive change from Kenvue’s previous quarterly dividend of $0.21. Kenvue’s dividend payout ratio is currently 96.55%.

Analyst Upgrades and Downgrades

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

About Kenvue

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.