Kenvue Inc. (NYSE:KVUE) Shares Acquired by Yacktman Asset Management LP

Yacktman Asset Management LP increased its stake in Kenvue Inc. (NYSE:KVUE) by 30.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,148,773 shares of the company’s stock after acquiring an additional 1,883,457 shares during the period. Yacktman Asset Management LP owned approximately 0.43% of Kenvue worth $148,145,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. International Assets Investment Management LLC raised its holdings in Kenvue by 1,748.0% in the fourth quarter. International Assets Investment Management LLC now owns 196,927 shares of the company’s stock valued at $4,240,000 after acquiring an additional 186,271 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of Kenvue by 0.6% during the 4th quarter. Victory Capital Management Inc. now owns 526,301 shares of the company’s stock worth $11,331,000 after acquiring an additional 3,014 shares in the last quarter. Benjamin F. Edwards & Company Inc. grew its position in shares of Kenvue by 145.3% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 30,977 shares of the company’s stock worth $667,000 after acquiring an additional 18,347 shares during the last quarter. Merit Financial Group LLC acquired a new position in Kenvue in the fourth quarter valued at $253,000. Finally, M&T Bank Corp raised its holdings in shares of Kenvue by 14.0% in the fourth quarter. M&T Bank Corp now owns 108,951 shares of the company’s stock valued at $2,346,000 after buying an additional 13,375 shares during the last quarter. 97.64% of the stock is currently owned by hedge funds and other institutional investors.

Kenvue Stock Performance

NYSE:KVUE remained flat at $22.51 on Thursday. The company’s stock had a trading volume of 7,239,078 shares, compared to its average volume of 18,551,096. The business has a fifty day moving average of $19.67 and a two-hundred day moving average of $19.60. The stock has a market capitalization of $43.10 billion, a PE ratio of 28.84, a PEG ratio of 2.76 and a beta of 1.38. Kenvue Inc. has a 12 month low of $17.67 and a 12 month high of $22.71. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.68 and a current ratio of 0.99.

Kenvue (NYSE:KVUE) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.04. The company had revenue of $4 billion for the quarter, compared to analyst estimates of $3.93 billion. Kenvue had a net margin of 7.23% and a return on equity of 21.80%. The business’s quarterly revenue was down .3% on a year-over-year basis. During the same quarter last year, the firm posted $0.32 earnings per share. As a group, analysts predict that Kenvue Inc. will post 1.08 earnings per share for the current year.

Kenvue Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 28th. Shareholders of record on Wednesday, August 14th were issued a dividend of $0.205 per share. The ex-dividend date of this dividend was Wednesday, August 14th. This is an increase from Kenvue’s previous quarterly dividend of $0.20. This represents a $0.82 annualized dividend and a yield of 3.64%. Kenvue’s payout ratio is currently 105.13%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on KVUE shares. Royal Bank of Canada reaffirmed an “outperform” rating and set a $24.00 price target on shares of Kenvue in a report on Wednesday, August 7th. HSBC boosted their target price on Kenvue from $20.00 to $21.00 and gave the stock a “hold” rating in a research report on Wednesday, May 8th. Deutsche Bank Aktiengesellschaft raised their price target on Kenvue from $23.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. UBS Group increased their price objective on Kenvue from $20.00 to $22.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Finally, Citigroup lowered their target price on shares of Kenvue from $21.00 to $20.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. One analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $22.64.

About Kenvue

Kenvue Inc operates as a consumer health company worldwide. The company operates through three segments: Self Care, Skin Health and Beauty, and Essential Health. The Self Care segment offers cough, cold and allergy, pain care, digestive health, smoking cessation, eye care, and other products under the Tylenol, Motrin, Benadryl, Nicorette, Zarbee's, ORSLTM, Rhinocort, Calpol, and Zyrtec brands.