Westpac Banking Corp Takes $747,000 Position in Kenvue Inc. $KVUE

Westpac Banking Corp bought a new position in shares of Kenvue Inc. (NYSE:KVUE) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 39,100 shares of the company’s stock, valued at approximately $747,000.

Several other large investors have also made changes to their positions in KVUE. BlackRock Inc. bought a new stake in Kenvue during the 2nd quarter worth about $2,882,279,000. Norges Bank bought a new position in shares of Kenvue in the 4th quarter valued at about $756,862,000. Independent Franchise Partners LLP boosted its stake in shares of Kenvue by 56.3% in the 4th quarter. Independent Franchise Partners LLP now owns 48,146,476 shares of the company’s stock valued at $830,527,000 after purchasing an additional 17,343,785 shares during the last quarter. Sculptor Capital LP grew its position in shares of Kenvue by 1,023.5% during the 4th quarter. Sculptor Capital LP now owns 12,886,328 shares of the company’s stock worth $222,289,000 after buying an additional 11,739,328 shares during the period. Finally, Bank of New York Mellon Corp bought a new stake in shares of Kenvue during the second quarter worth approximately $192,080,000. Institutional investors and hedge funds own 97.64% of the company’s stock.

Analyst Ratings Changes

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

Kenvue Stock Up 0.8%

Kenvue stock opened at $19.08 on Friday. The firm has a market capitalization of $36.65 billion, a price-to-earnings ratio of 21.93, a PEG ratio of 1.36 and a beta of 0.47. The company’s 50 day simple moving average is $19.05 and its 200 day simple moving average is $18.19. 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 Inc. has a fifty-two week low of $14.02 and a fifty-two week high of $21.78.

Kenvue (NYSE:KVUE) last issued its earnings results on Thursday, August 6th. The company reported $0.31 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.01). The firm had revenue of $3.96 billion during the quarter, compared to the consensus estimate of $3.97 billion. Kenvue had a net margin of 10.76% and a return on equity of 21.22%. The firm’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.29 EPS. As a group, sell-side analysts anticipate that Kenvue Inc. will post 1.14 EPS for the current year.

Kenvue Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 26th. Investors of record on Wednesday, August 12th will be given a $0.21 dividend. The ex-dividend date is Wednesday, August 12th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 4.4%. This is an increase from Kenvue’s previous quarterly dividend of $0.21. Kenvue’s dividend payout ratio is currently 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.