Pictet Asset Management Holding SA Buys 31,842 Shares of Kenvue Inc. $KVUE

Pictet Asset Management Holding SA boosted its stake in Kenvue Inc. (NYSE:KVUE) by 2.9% during the third quarter, Holdings Channel.com reports. The firm owned 1,145,115 shares of the company’s stock after buying an additional 31,842 shares during the period. Pictet Asset Management Holding SA’s holdings in Kenvue were worth $20,223,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. purchased a new stake in shares of Kenvue during the second quarter valued at approximately $2,882,279,000. Pentwater Capital Management LP purchased a new position in shares of Kenvue in the second quarter worth $977,094,000. HBK Investments L P increased its stake in shares of Kenvue by 33.3% in the second quarter. HBK Investments L P now owns 28,000,001 shares of the company’s stock worth $535,080,000 after buying an additional 7,000,000 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Kenvue by 0.9% in the first quarter. Dimensional Fund Advisors LP now owns 22,270,175 shares of the company’s stock worth $383,938,000 after buying an additional 196,981 shares during the period. Finally, Amundi raised its holdings in Kenvue by 41.2% during the 2nd quarter. Amundi now owns 18,483,326 shares of the company’s stock valued at $353,216,000 after buying an additional 5,392,413 shares during the last quarter. Institutional investors own 97.64% of the company’s stock.

Kenvue Price Performance

KVUE opened at $19.31 on Thursday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.71 and a current ratio of 1.01. Kenvue Inc. has a 52-week low of $14.06 and a 52-week high of $20.13. The stock has a market capitalization of $37.09 billion, a PE ratio of 21.94, a price-to-earnings-growth ratio of 1.77 and a beta of 0.48. The stock’s 50 day moving average price is $18.43 and its 200-day moving average price is $18.27.

Kenvue (NYSE:KVUE) last announced its earnings results on Friday, October 30th. The company reported $0.29 EPS for the quarter, meeting analysts’ consensus estimates of $0.29. Kenvue had a return on equity of 21.22% and a net margin of 10.76%. The company had revenue of $3.89 billion during the quarter, compared to the consensus estimate of $3.86 billion. During the same quarter in the prior year, the company earned $0.28 earnings per share. The firm’s revenue for the quarter was up 3.2% on a year-over-year basis. On average, equities research analysts predict that Kenvue Inc. will post 1.14 EPS for the current year.

Kenvue Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 2nd. Shareholders of record on Monday, September 21st were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date of this dividend was Monday, September 21st. Kenvue’s payout ratio is presently 95.45%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Wall Street Zen cut shares of Kenvue from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Weiss Ratings reissued a “hold (c)” rating on shares of Kenvue in a report on Friday, September 11th. Barclays boosted their price objective 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. HSBC decreased their price objective on shares of Kenvue from $20.00 to $19.00 and set a “hold” rating on the stock in a research report on Monday, August 10th. Finally, UBS Group upped their price objective on shares of Kenvue from $19.00 to $20.00 and gave the company a “neutral” rating in a research note on Monday, November 2nd. Ten equities research analysts have rated the stock with a Hold rating. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $19.29.

Kenvue Profile

Kenvue Inc. is a consumer health company that develops and sells products for everyday health and personal care. Its portfolio includes over-the-counter medicines, skin and hair care, oral care, wound care, and baby care products. Its well-known brands include Tylenol, Neutrogena, Aveeno, Listerine, Band-Aid, Johnson’s, and Zyrtec. Kenvue organizes its business around Self Care, Skin Health and Beauty, and Essential Health. The company became an independent business in 2023 after Johnson & Johnson completed the separation of its consumer health business.