Levin Capital Strategies L.P. Buys New Shares in Kenvue Inc. $KVUE

Levin Capital Strategies L.P. purchased a new stake in Kenvue Inc. (NYSE:KVUE) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 16,509 shares of the company’s stock, valued at approximately $346,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in KVUE. Vanguard Group Inc. lifted its position in Kenvue by 4.9% in the first quarter. Vanguard Group Inc. now owns 229,144,387 shares of the company’s stock worth $5,494,882,000 after purchasing an additional 10,600,682 shares during the period. Third Point LLC acquired a new position in Kenvue in the first quarter worth about $213,422,000. Maverick Capital Ltd. bought a new position in Kenvue during the first quarter worth about $203,036,000. Nuveen LLC acquired a new stake in Kenvue during the first quarter valued at approximately $187,123,000. Finally, Voya Investment Management LLC boosted its holdings in Kenvue by 131.3% during the first quarter. Voya Investment Management LLC now owns 12,131,468 shares of the company’s stock valued at $290,557,000 after purchasing an additional 6,886,784 shares in the last quarter. 97.64% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on KVUE. Edward Jones cut Kenvue from a “strong-buy” rating to a “hold” rating in a report on Monday. Canaccord Genuity Group reiterated a “hold” rating and set a $15.00 price objective (down from $26.00) on shares of Kenvue in a research note on Wednesday, October 29th. Rothschild Redb raised Kenvue from a “hold” rating to a “strong-buy” rating in a report on Friday, September 26th. Zacks Research upgraded shares of Kenvue to a “strong sell” rating in a research note on Monday, August 11th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Kenvue in a report on Tuesday, October 14th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $20.17.

Kenvue Trading Up 12.6%

Shares of KVUE opened at $16.18 on Tuesday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.68 and a current ratio of 0.98. The company has a market cap of $31.06 billion, a price-to-earnings ratio of 21.87, a PEG ratio of 2.07 and a beta of 0.71. The stock has a fifty day moving average price of $17.11 and a two-hundred day moving average price of $20.45. Kenvue Inc. has a 52-week low of $14.02 and a 52-week high of $25.17.

Kenvue (NYSE:KVUE) last announced its earnings results on Thursday, November 6th. The company reported $0.28 EPS for the quarter, topping the consensus estimate of $0.27 by $0.01. Kenvue had a return on equity of 20.06% and a net margin of 9.37%.During the same quarter in the previous year, the firm earned $0.28 EPS. The firm’s revenue for the quarter was down 3.5% compared to the same quarter last year. Analysts predict that Kenvue Inc. will post 1.14 EPS for the current fiscal year.

Kenvue Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 26th. Shareholders of record on Wednesday, November 12th will be given a $0.2075 dividend. This represents a $0.83 annualized dividend and a yield of 5.1%. The ex-dividend date is Wednesday, November 12th. Kenvue’s dividend payout ratio (DPR) is presently 112.16%.

Kenvue Company Profile

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.