Kenvue Inc. $KVUE Stake Decreased by M&G PLC

M&G PLC cut its position in shares of Kenvue Inc. (NYSE:KVUE) by 79.5% during the third quarter, Holdings Channel reports. The institutional investor owned 665,530 shares of the company’s stock after selling 2,586,120 shares during the quarter. M&G PLC’s holdings in Kenvue were worth $11,980,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in shares of Kenvue in the 2nd quarter valued at $2,882,279,000. Pentwater Capital Management LP bought a new position in shares of Kenvue during the 2nd quarter worth about $977,094,000. Bank of America Corp DE acquired a new stake in shares of Kenvue during the 2nd quarter valued at about $275,204,000. Legal & General Group Plc acquired a new stake in shares of Kenvue during the 2nd quarter valued at about $253,393,000. Finally, Bank of New York Mellon Corp bought a new stake in Kenvue in the second quarter valued at about $192,080,000. 97.64% of the stock is currently owned by institutional investors.

Kenvue Price Performance

KVUE opened at $19.31 on Wednesday. The firm has a market cap of $37.09 billion, a price-to-earnings ratio of 21.94, a PEG ratio of 1.77 and a beta of 0.48. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.71 and a current ratio of 1.01. The firm’s 50-day simple moving average is $18.42 and its 200-day simple moving average is $18.26. Kenvue Inc. has a twelve month low of $14.06 and a twelve month high of $20.13.

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

Kenvue Dividend Announcement

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

Wall Street Analyst Weigh In

A number of brokerages have commented on KVUE. Wall Street Zen cut shares of Kenvue from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. HSBC dropped their target price on Kenvue from $20.00 to $19.00 and set a “hold” rating for the company in a report on Monday, August 10th. Weiss Ratings restated a “hold (c)” rating on shares of Kenvue in a research report on Friday, September 11th. UBS Group boosted their price target on Kenvue from $19.00 to $20.00 and gave the company a “neutral” rating in a research note on Monday, November 2nd. Finally, Barclays upped their price target on Kenvue from $18.00 to $19.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 21st. Ten research analysts have rated the stock with a Hold rating. According to MarketBeat, Kenvue currently has an average rating of “Hold” and an average price target of $19.29.

About Kenvue

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.