Readystate Asset Management LP Purchases 200,000 Shares of Kenvue Inc. $KVUE

Readystate Asset Management LP raised its position in Kenvue Inc. (NYSE:KVUE) by 18.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,257,316 shares of the company’s stock after purchasing an additional 200,000 shares during the quarter. Kenvue accounts for approximately 0.8% of Readystate Asset Management LP’s holdings, making the stock its 28th biggest holding. Readystate Asset Management LP owned approximately 0.07% of Kenvue worth $24,027,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in KVUE. CoreCap Advisors LLC boosted its holdings in Kenvue by 64.9% during the 2nd quarter. CoreCap Advisors LLC now owns 1,502 shares of the company’s stock valued at $29,000 after acquiring an additional 591 shares during the period. Montag A & Associates Inc. increased its stake in Kenvue by 6.3% in the first quarter. Montag A & Associates Inc. now owns 10,156 shares of the company’s stock worth $175,000 after purchasing an additional 600 shares during the period. Cornerstone Wealth Group LLC lifted its position in shares of Kenvue by 5.9% during the first quarter. Cornerstone Wealth Group LLC now owns 10,810 shares of the company’s stock worth $187,000 after purchasing an additional 606 shares during the last quarter. Strive Financial Group LLC lifted its position in shares of Kenvue by 5.2% during the second quarter. Strive Financial Group LLC now owns 12,263 shares of the company’s stock worth $234,000 after purchasing an additional 609 shares during the last quarter. Finally, Mill Creek Capital Advisors LLC boosted its stake in shares of Kenvue by 0.6% during the fourth quarter. Mill Creek Capital Advisors LLC now owns 124,213 shares of the company’s stock valued at $2,143,000 after purchasing an additional 701 shares during the period. Institutional investors own 97.64% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on KVUE shares. Wall Street Zen cut shares of Kenvue from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. 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. Weiss Ratings raised shares of Kenvue from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, June 15th. UBS Group decreased their price target on shares of Kenvue from $20.00 to $19.00 and set a “neutral” rating for the company in a research note 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 issued a Hold rating to the stock. According to data from MarketBeat.com, Kenvue has a consensus rating of “Hold” and a consensus target price of $19.27.

Kenvue Stock Performance

Shares of KVUE stock opened at $18.70 on Monday. The firm has a market cap of $35.92 billion, a price-to-earnings ratio of 21.49, a PEG ratio of 1.67 and a beta of 0.46. Kenvue Inc. has a 52-week low of $14.02 and a 52-week high of $20.69. 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 company’s 50 day moving average is $19.19 and its 200 day moving average is $18.26.

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 the consensus estimate of $0.32 by ($0.01). Kenvue had a net margin of 10.76% and a return on equity of 21.22%. The company had revenue of $3.96 billion for the quarter, compared to the consensus estimate of $3.97 billion. During the same period last year, the business posted $0.29 EPS. The firm’s revenue was up 3.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Kenvue Inc. will post 1.14 EPS for the current fiscal year.

Kenvue Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 26th. Shareholders of record on Wednesday, August 12th were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 4.5%. This is a boost from Kenvue’s previous quarterly dividend of $0.21. The ex-dividend date was Wednesday, August 12th. Kenvue’s payout ratio is presently 96.55%.

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.