Caisse de depot et placement du Quebec Takes $16.14 Million Position in Kenvue Inc. $KVUE

Caisse de depot et placement du Quebec purchased a new position in shares of Kenvue Inc. (NYSE:KVUE) in the 2nd quarter, HoldingsChannel.com reports. The firm purchased 844,651 shares of the company’s stock, valued at approximately $16,141,000.

A number of other hedge funds also recently modified their holdings of KVUE. CoreCap Advisors LLC lifted its stake in Kenvue by 64.9% in the second quarter. CoreCap Advisors LLC now owns 1,502 shares of the company’s stock valued at $29,000 after purchasing an additional 591 shares during the last quarter. Montag A & Associates Inc. increased its position 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 buying an additional 600 shares during the last quarter. Cornerstone Wealth Group LLC increased its position in Kenvue by 5.9% in the first quarter. Cornerstone Wealth Group LLC now owns 10,810 shares of the company’s stock worth $187,000 after buying an additional 606 shares during the last quarter. Mill Creek Capital Advisors LLC raised its stake in shares of Kenvue by 0.6% in the fourth quarter. Mill Creek Capital Advisors LLC now owns 124,213 shares of the company’s stock valued at $2,143,000 after buying an additional 701 shares during the period. Finally, B & T Capital Management DBA Alpha Capital Management raised its stake in shares of Kenvue by 0.3% in the fourth quarter. B & T Capital Management DBA Alpha Capital Management now owns 234,664 shares of the company’s stock valued at $4,048,000 after buying an additional 712 shares during the period. Institutional investors own 97.64% of the company’s stock.

Analyst Upgrades and Downgrades

KVUE has been the topic of a number of recent research reports. Weiss Ratings raised Kenvue from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, June 15th. Zacks Research lowered Kenvue from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 7th. Barclays boosted their price objective on Kenvue from $18.00 to $19.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 21st. Wall Street Zen downgraded shares of Kenvue from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Finally, UBS Group cut their target price on shares of Kenvue from $20.00 to $19.00 and set a “neutral” rating for the company in a research report on Tuesday, August 11th. Three equities research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $19.27.

Kenvue Trading Down 0.3%

NYSE:KVUE opened at $19.15 on Friday. The company has a market cap of $36.78 billion, a P/E ratio of 22.01, a P/E/G ratio of 1.37 and a beta of 0.47. The stock’s fifty day moving average price is $19.16 and its two-hundred day moving average price is $18.25. Kenvue Inc. has a 1 year low of $14.02 and a 1 year high of $20.82. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.01 and a quick ratio of 0.71.

Kenvue (NYSE:KVUE) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.31 earnings per share 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 during the quarter, compared to analysts’ expectations of $3.97 billion. During the same quarter last year, the firm posted $0.29 earnings per share. Kenvue’s revenue for the quarter was up 3.0% compared to the same quarter last year. As a group, analysts expect that Kenvue Inc. will post 1.14 EPS for the current 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. The ex-dividend date was Wednesday, August 12th. This represents a $0.84 annualized dividend and a yield of 4.4%. This is an increase from Kenvue’s previous quarterly dividend of $0.21. Kenvue’s dividend payout ratio is 96.55%.

Kenvue 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.