ICICI Prudential Asset Management Co Ltd Buys 116,500 Shares of Kenvue Inc. $KVUE

ICICI Prudential Asset Management Co Ltd raised its stake in shares of Kenvue Inc. (NYSE:KVUE) by 25.8% in the 4th quarter, HoldingsChannel.com reports. The firm owned 568,560 shares of the company’s stock after purchasing an additional 116,500 shares during the period. Kenvue accounts for 1.1% of ICICI Prudential Asset Management Co Ltd’s holdings, making the stock its 18th biggest position. ICICI Prudential Asset Management Co Ltd’s holdings in Kenvue were worth $9,808,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of KVUE. Norges Bank bought a new stake in Kenvue during the fourth quarter valued at about $756,862,000. Van ECK Associates Corp boosted its stake in shares of Kenvue by 101.3% in the third quarter. Van ECK Associates Corp now owns 18,361,581 shares of the company’s stock worth $298,008,000 after acquiring an additional 9,240,434 shares during the period. ING Groep NV boosted its stake in shares of Kenvue by 1,311.9% in the fourth quarter. ING Groep NV now owns 9,856,090 shares of the company’s stock worth $170,018,000 after acquiring an additional 9,157,999 shares during the period. American Century Companies Inc. boosted its stake in shares of Kenvue by 22.4% in the third quarter. American Century Companies Inc. now owns 37,046,660 shares of the company’s stock worth $601,267,000 after acquiring an additional 6,781,640 shares during the period. Finally, Bessemer Group Inc. boosted its stake in shares of Kenvue by 156.2% in the fourth quarter. Bessemer Group Inc. now owns 8,491,343 shares of the company’s stock worth $146,475,000 after acquiring an additional 5,177,404 shares during the period. Institutional investors own 97.64% of the company’s stock.

Kenvue Price Performance

NYSE:KVUE opened at $18.08 on Friday. The company has a current ratio of 0.98, a quick ratio of 0.70 and a debt-to-equity ratio of 0.67. The company has a market capitalization of $34.70 billion, a P/E ratio of 21.26, a P/E/G ratio of 1.37 and a beta of 0.54. Kenvue Inc. has a 12 month low of $14.02 and a 12 month high of $22.87. The business’s 50-day moving average is $17.41 and its 200 day moving average is $17.53.

Kenvue (NYSE:KVUE) last posted its earnings results on Thursday, May 7th. The company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.05. The company had revenue of $3.91 billion for the quarter, compared to the consensus estimate of $3.84 billion. Kenvue had a return on equity of 20.81% and a net margin of 10.61%.The firm’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.24 earnings per share. On average, equities research analysts forecast that Kenvue Inc. will post 1.16 earnings per share for the current fiscal year.

Kenvue Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 27th. Investors of record on Wednesday, May 13th were given a $0.2075 dividend. This represents a $0.83 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date was Wednesday, May 13th. Kenvue’s payout ratio is currently 97.65%.

Analyst Ratings Changes

A number of research firms have recently weighed in on KVUE. Barclays dropped their price objective on Kenvue from $19.00 to $18.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 14th. Canaccord Genuity Group upped their price objective on Kenvue from $17.00 to $18.00 and gave the stock a “hold” rating in a research note on Wednesday, February 18th. Zacks Research raised Kenvue from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 8th. Citigroup dropped their price objective on Kenvue from $20.00 to $19.00 and set a “neutral” rating for the company in a research note on Wednesday, April 15th. Finally, Argus raised Kenvue to a “hold” rating in a research note on Friday, March 6th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $19.33.

Insider Activity at Kenvue

In related news, General Counsel Matthew Orlando sold 38,491 shares of the business’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $17.66, for a total value of $679,751.06. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 1.59% of the company’s stock.

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.