Cibc World Market Inc. Invests $7.18 Million in Kenvue Inc. $KVUE

Cibc World Market Inc. acquired a new position in Kenvue Inc. (NYSE:KVUE) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 375,688 shares of the company’s stock, valued at approximately $7,179,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Physician Wealth Advisors Inc. raised its holdings in Kenvue by 67.5% in the fourth quarter. Physician Wealth Advisors Inc. now owns 1,533 shares of the company’s stock worth $26,000 after purchasing an additional 618 shares during the period. Elyxium Wealth LLC acquired a new position in shares of Kenvue in the 4th quarter valued at $26,000. Johnson Financial Group Inc. acquired a new position in shares of Kenvue in the 2nd quarter valued at $26,000. MV Capital Management Inc. bought a new stake in shares of Kenvue in the 4th quarter valued at $28,000. Finally, CoreCap Advisors LLC increased its position in shares of Kenvue by 64.9% in the 2nd quarter. CoreCap Advisors LLC now owns 1,502 shares of the company’s stock valued at $29,000 after buying an additional 591 shares in the last quarter. Institutional investors own 97.64% of the company’s stock.

Kenvue Trading Down 0.4%

NYSE KVUE opened at $19.34 on Wednesday. Kenvue Inc. has a 12 month low of $14.02 and a 12 month high of $21.40. The company has a current ratio of 1.01, a quick ratio of 0.71 and a debt-to-equity ratio of 0.67. The stock has a 50 day moving average of $19.10 and a 200-day moving average of $18.22. The company has a market cap of $37.16 billion, a PE ratio of 22.24, a PEG ratio of 1.39 and a beta of 0.47.

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

Kenvue Increases Dividend

The company 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 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 4.3%. This is a boost from Kenvue’s previous quarterly dividend of $0.21. Kenvue’s dividend payout ratio (DPR) is presently 96.55%.

Wall Street Analyst Weigh In

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