Great Lakes Advisors LLC Makes New Investment in Kenvue Inc. $KVUE

Great Lakes Advisors LLC purchased a new position in Kenvue Inc. (NYSE:KVUE) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 78,650 shares of the company’s stock, valued at approximately $1,503,000.

A number of other institutional investors have also recently modified their holdings of KVUE. Arrowstreet Capital Limited Partnership bought a new stake in Kenvue during the 2nd quarter valued at about $6,528,000. Jump Financial LLC raised its stake in Kenvue by 210.6% during the 2nd quarter. Jump Financial LLC now owns 54,823 shares of the company’s stock valued at $1,147,000 after buying an additional 37,170 shares during the last quarter. AXA S.A. boosted its stake in shares of Kenvue by 21.1% in the 2nd quarter. AXA S.A. now owns 48,892 shares of the company’s stock worth $1,023,000 after buying an additional 8,524 shares during the last quarter. NewEdge Advisors LLC grew its stake in shares of Kenvue by 219.1% during the 2nd quarter. NewEdge Advisors LLC now owns 97,481 shares of the company’s stock valued at $2,040,000 after purchasing an additional 66,930 shares during the period. Finally, The Manufacturers Life Insurance Company grew its position in Kenvue by 0.6% during the second quarter. The Manufacturers Life Insurance Company now owns 1,873,705 shares of the company’s stock valued at $39,217,000 after buying an additional 10,885 shares during the period. 97.64% of the stock is owned by hedge funds and other institutional investors.

Kenvue Trading Up 0.8%

Shares of NYSE:KVUE opened at $19.08 on Friday. 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 Inc. has a 52-week low of $14.02 and a 52-week high of $21.78. The business has a 50-day moving average price of $19.05 and a 200-day moving average price of $18.19. The stock has a market cap of $36.65 billion, a price-to-earnings ratio of 21.93, a PEG ratio of 1.36 and a beta of 0.47.

Kenvue (NYSE:KVUE) last released its quarterly earnings data 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 business had revenue of $3.96 billion during 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%.The firm’s revenue was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.29 EPS. Equities analysts predict that Kenvue Inc. will post 1.14 EPS for the current year.

Kenvue Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Shareholders of record on Wednesday, August 12th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Wednesday, August 12th. This is a boost from Kenvue’s previous quarterly dividend of $0.21. This represents a $0.84 dividend on an annualized basis and a yield of 4.4%. Kenvue’s dividend payout ratio is presently 96.55%.

Analyst Ratings Changes

A number of research firms have weighed in on KVUE. Weiss Ratings upgraded shares of Kenvue from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, June 15th. Zacks Research lowered shares of Kenvue from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 7th. UBS Group dropped their target price on shares of Kenvue from $20.00 to $19.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 11th. Wall Street Zen cut shares of Kenvue from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Finally, Barclays raised their price objective on Kenvue from $18.00 to $19.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 21st. Three investment analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. According to data from MarketBeat.com, Kenvue has an average rating of “Hold” and an average target price of $19.27.

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.