ICICI Prudential Asset Management Co Ltd Grows Holdings in Kenvue Inc. $KVUE

ICICI Prudential Asset Management Co Ltd raised its position in Kenvue Inc. (NYSE:KVUE) by 137.9% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 452,060 shares of the company’s stock after purchasing an additional 262,000 shares during the period. ICICI Prudential Asset Management Co Ltd’s holdings in Kenvue were worth $7,337,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in shares of Kenvue by 1.8% in the second quarter. Vanguard Group Inc. now owns 233,246,267 shares of the company’s stock worth $4,881,844,000 after acquiring an additional 4,101,880 shares in the last quarter. Geode Capital Management LLC grew its stake in Kenvue by 1.2% during the 2nd quarter. Geode Capital Management LLC now owns 49,001,887 shares of the company’s stock valued at $1,021,267,000 after purchasing an additional 604,953 shares in the last quarter. Independent Franchise Partners LLP increased its holdings in Kenvue by 233.4% during the 2nd quarter. Independent Franchise Partners LLP now owns 31,265,574 shares of the company’s stock worth $654,388,000 after purchasing an additional 21,886,537 shares during the last quarter. American Century Companies Inc. raised its position in shares of Kenvue by 38.6% in the 2nd quarter. American Century Companies Inc. now owns 30,265,020 shares of the company’s stock valued at $633,447,000 after purchasing an additional 8,436,166 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Kenvue in the 2nd quarter valued at approximately $537,418,000. 97.64% of the stock is currently owned by institutional investors and hedge funds.

Kenvue Stock Down 1.1%

Shares of NYSE:KVUE opened at $18.68 on Friday. The stock has a market capitalization of $35.78 billion, a price-to-earnings ratio of 24.25 and a beta of 0.59. Kenvue Inc. has a 1-year low of $14.02 and a 1-year high of $25.17. The company’s fifty day moving average is $17.51 and its two-hundred day moving average is $17.67. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.69 and a current ratio of 0.98.

Kenvue (NYSE:KVUE) last posted its quarterly earnings results on Tuesday, February 17th. The company reported $0.27 EPS for the quarter, beating the consensus estimate of $0.22 by $0.05. The business had revenue of $3.78 billion during the quarter, compared to analyst estimates of $3.68 billion. Kenvue had a net margin of 9.72% and a return on equity of 19.86%. The company’s quarterly revenue was up 3.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.26 EPS. Equities analysts anticipate that Kenvue Inc. will post 1.14 EPS for the current year.

Kenvue Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 25th. Stockholders of record on Wednesday, February 11th will be issued a dividend of $0.2075 per share. The ex-dividend date of this dividend is Wednesday, February 11th. This represents a $0.83 annualized dividend and a dividend yield of 4.4%. Kenvue’s dividend payout ratio is 110.67%.

Analyst Ratings Changes

KVUE has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft set a $18.00 price target on shares of Kenvue in a research report on Friday, October 24th. UBS Group raised their price objective on shares of Kenvue from $17.00 to $19.00 and gave the stock a “neutral” rating in a report on Wednesday. Zacks Research raised shares of Kenvue from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 26th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Kenvue in a research report on Friday, January 9th. Finally, Edward Jones downgraded Kenvue from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 3rd. Four investment analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $20.08.

Insider Buying and Selling at Kenvue

In related news, Director Jeffrey C. Smith purchased 3,200,000 shares of the company’s stock in a transaction dated Friday, December 12th. The shares were acquired at an average cost of $17.37 per share, for a total transaction of $55,584,000.00. Following the transaction, the director owned 27,307,632 shares of the company’s stock, valued at $474,333,567.84. This trade represents a 13.27% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.68% of the company’s stock.

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.