HBK Investments L P Raises Holdings in Kenvue Inc. $KVUE

HBK Investments L P grew its holdings in shares of Kenvue Inc. (NYSE:KVUE) by 33.3% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 28,000,001 shares of the company’s stock after acquiring an additional 7,000,000 shares during the quarter. Kenvue comprises 5.2% of HBK Investments L P’s portfolio, making the stock its 5th largest holding. HBK Investments L P’s holdings in Kenvue were worth $535,080,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in KVUE. BlackRock Inc. purchased a new stake in Kenvue in the second quarter worth about $2,882,279,000. Pentwater Capital Management LP bought a new stake in Kenvue during the 2nd quarter valued at approximately $977,094,000. Norges Bank purchased a new position in shares of Kenvue during the 4th quarter worth approximately $756,862,000. Independent Franchise Partners LLP grew its holdings 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 acquiring an additional 17,343,785 shares during the period. Finally, Bank of America Corp DE bought a new position in shares of Kenvue in the 2nd quarter worth approximately $275,204,000. Institutional investors own 97.64% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Weiss Ratings restated a “hold (c)” rating on shares of Kenvue in a research note on Friday. Zacks Research cut Kenvue from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 7th. Wall Street Zen downgraded Kenvue from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. UBS Group lowered their price objective on 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 boosted their target price on shares of Kenvue from $18.00 to $19.00 and gave the company 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 assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $19.27.

Kenvue Stock Down 0.4%

Shares of NYSE KVUE traded down $0.07 on Wednesday, reaching $17.84. 23,064,914 shares of the company’s stock traded hands, compared to its average volume of 28,206,914. The business’s 50 day simple moving average is $18.98 and its two-hundred day simple moving average is $18.22. Kenvue Inc. has a 12 month low of $14.02 and a 12 month high of $20.13. The company has a market cap of $34.28 billion, a price-to-earnings ratio of 20.51, a price-to-earnings-growth ratio of 1.64 and a beta of 0.46. 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 issued 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 company had revenue of $3.96 billion during the quarter, compared to the consensus estimate of $3.97 billion. Kenvue had a return on equity of 21.22% and a net margin of 10.76%.The business’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.29 earnings per share. As a group, equities research analysts forecast that Kenvue Inc. will post 1.14 EPS for the current fiscal year.

Kenvue Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders of record on Monday, September 21st will be paid a dividend of $0.21 per share. The ex-dividend date is Monday, September 21st. This represents a $0.84 dividend on an annualized basis and a yield of 4.7%. Kenvue’s payout ratio is presently 96.55%.

About Kenvue

Kenvue Inc is a global consumer health company that develops, markets and sells products designed to support everyday health and personal care. Its portfolio spans over-the-counter medicines, skin health and beauty, essential health products, and baby and family care.

The company’s brands include Tylenol, Motrin, Zyrtec and Benadryl in self-care; Neutrogena, Aveeno and Clean & Clear in skin health and beauty; Listerine in oral care; and Johnson’s and Band-Aid in baby care and essential health.