Plato Investment Management Ltd Invests $1.30 Million in Kenvue Inc. $KVUE

Plato Investment Management Ltd bought a new position in shares of Kenvue Inc. (NYSE:KVUE) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 68,363 shares of the company’s stock, valued at approximately $1,299,000.

Several other hedge funds have also recently added to or reduced their stakes in KVUE. Norges Bank acquired a new position in Kenvue during the 4th quarter worth approximately $756,862,000. Independent Franchise Partners LLP lifted its position in shares of Kenvue by 56.3% during the 4th quarter. Independent Franchise Partners LLP now owns 48,146,476 shares of the company’s stock worth $830,527,000 after purchasing an additional 17,343,785 shares during the last quarter. Sculptor Capital LP lifted its position in shares of Kenvue by 1,023.5% during the 4th quarter. Sculptor Capital LP now owns 12,886,328 shares of the company’s stock worth $222,289,000 after purchasing an additional 11,739,328 shares during the last quarter. Bank of New York Mellon Corp acquired a new position in shares of Kenvue during the second quarter worth $192,080,000. Finally, Capitolis Liquid Global Markets LLC grew its stake in shares of Kenvue by 1,116.8% during the fourth quarter. Capitolis Liquid Global Markets LLC now owns 10,950,999 shares of the company’s stock worth $188,905,000 after purchasing an additional 10,050,999 shares in the last quarter. Institutional investors and hedge funds own 97.64% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Wall Street Zen downgraded Kenvue from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Barclays increased their price objective on Kenvue from $18.00 to $19.00 and gave the company an “equal weight” rating in a report on Tuesday, July 21st. Weiss Ratings raised Kenvue from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, June 15th. Zacks Research cut Kenvue from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 7th. Finally, UBS Group lowered 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. Three investment analysts have rated the stock with a Buy rating and twelve have given 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 Performance

Shares of KVUE stock opened at $18.83 on Tuesday. The stock’s 50-day moving average is $18.98 and its two-hundred day moving average is $18.15. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.71 and a current ratio of 1.01. Kenvue Inc. has a 1 year low of $14.02 and a 1 year high of $21.84. The firm 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 (NYSE:KVUE) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.31 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.01). Kenvue had a net margin of 10.76% and a return on equity of 21.22%. The business had revenue of $3.96 billion during the quarter, compared to analysts’ expectations of $3.97 billion. During the same quarter last year, the company earned $0.29 EPS. The firm’s revenue for the quarter was up 3.0% compared to the same quarter last year. Analysts predict that Kenvue Inc. will post 1.14 earnings per share for the current year.

Kenvue Increases Dividend

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

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.