The Manufacturers Life Insurance Company Purchases New Stake in Kenvue Inc. $KVUE

The Manufacturers Life Insurance Company purchased a new stake in shares of Kenvue Inc. (NYSE:KVUE) in the 2nd quarter, Holdings Channel reports. The fund purchased 1,420,526 shares of the company’s stock, valued at approximately $27,146,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Elyxium Wealth LLC bought a new stake in shares of Kenvue during the 4th quarter worth about $26,000. Johnson Financial Group Inc. acquired a new position in Kenvue in the 2nd quarter valued at about $26,000. MV Capital Management Inc. bought a new position in Kenvue in the 4th quarter valued at about $28,000. CoreCap Advisors LLC lifted its position in Kenvue by 64.9% during the second quarter. CoreCap Advisors LLC now owns 1,502 shares of the company’s stock worth $29,000 after acquiring an additional 591 shares during the last quarter. Finally, Reflection Asset Management acquired a new stake in Kenvue during the fourth quarter worth approximately $32,000. 97.64% of the stock is owned by institutional investors.

Kenvue Price Performance

Shares of Kenvue stock opened at $19.20 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. The stock has a market capitalization of $36.87 billion, a price-to-earnings ratio of 22.06, a price-to-earnings-growth ratio of 1.38 and a beta of 0.47. Kenvue Inc. has a twelve month low of $14.02 and a twelve month high of $20.82. The company has a 50-day simple moving average of $19.14 and a two-hundred day simple moving average of $18.24.

Kenvue (NYSE:KVUE) last announced its earnings results on Thursday, August 6th. The company reported $0.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.01). Kenvue had a return on equity of 21.22% and a net margin of 10.76%.The business had revenue of $3.96 billion for the quarter, compared to analyst estimates of $3.97 billion. During the same quarter in the previous year, the company earned $0.29 EPS. The business’s revenue for the quarter was up 3.0% on a year-over-year basis. Analysts forecast that Kenvue Inc. will post 1.14 EPS for the current year.

Kenvue Increases Dividend

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

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Barclays upped their target price on Kenvue from $18.00 to $19.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 21st. Weiss Ratings raised Kenvue from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, June 15th. Wall Street Zen downgraded Kenvue from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. UBS Group decreased their price objective on Kenvue from $20.00 to $19.00 and set a “neutral” rating on the stock in a report on Tuesday, August 11th. Finally, Zacks Research lowered Kenvue from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 7th. Three research analysts have rated the stock with a Buy rating and twelve have given 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 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.