Rakuten Investment Management Inc. Takes $6.05 Million Position in Kenvue Inc. $KVUE

Rakuten Investment Management Inc. acquired a new position in shares of Kenvue Inc. (NYSE:KVUE) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 317,059 shares of the company’s stock, valued at approximately $6,046,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in KVUE. Elyxium Wealth LLC bought a new position in Kenvue during the 4th quarter worth approximately $26,000. Johnson Financial Group Inc. acquired a new stake in shares of Kenvue during the second quarter worth $26,000. MV Capital Management Inc. bought a new position in Kenvue during the fourth quarter worth $28,000. CoreCap Advisors LLC lifted its holdings in Kenvue by 64.9% in the second quarter. CoreCap Advisors LLC now owns 1,502 shares of the company’s stock valued at $29,000 after buying an additional 591 shares during the period. Finally, Reflection Asset Management bought a new stake in Kenvue during the fourth quarter valued at $32,000. 97.64% of the stock is owned by institutional investors and hedge funds.

Kenvue Trading Down 0.3%

NYSE KVUE opened at $19.15 on Friday. The company has a market cap of $36.78 billion, a price-to-earnings ratio of 22.01, a P/E/G 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 $20.82. The business has a 50 day moving average price of $19.16 and a 200-day moving average price of $18.25. 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 (NYSE:KVUE) last announced 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 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 last year, the firm posted $0.29 EPS. As a group, equities analysts expect that Kenvue Inc. will post 1.14 earnings per share for the current fiscal year.

Kenvue Increases Dividend

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

Analysts Set New Price Targets

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