Bank of Nova Scotia Buys 460,562 Shares of Kenvue Inc. $KVUE

Bank of Nova Scotia grew its position in Kenvue Inc. (NYSE:KVUE) by 230.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 660,715 shares of the company’s stock after purchasing an additional 460,562 shares during the period. Bank of Nova Scotia’s holdings in Kenvue were worth $13,829,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Burgundy Asset Management Ltd. raised its stake in shares of Kenvue by 9.0% during the 2nd quarter. Burgundy Asset Management Ltd. now owns 7,148,796 shares of the company’s stock worth $149,624,000 after purchasing an additional 592,854 shares during the period. California Public Employees Retirement System grew its position in shares of Kenvue by 4.0% in the second quarter. California Public Employees Retirement System now owns 3,242,423 shares of the company’s stock valued at $67,864,000 after purchasing an additional 123,636 shares in the last quarter. Cerity Partners LLC grew its holdings in Kenvue by 1.9% during the 2nd quarter. Cerity Partners LLC now owns 809,688 shares of the company’s stock valued at $16,947,000 after buying an additional 15,060 shares in the last quarter. Federated Hermes Inc. grew its stake in Kenvue by 5.3% during the second quarter. Federated Hermes Inc. now owns 9,220,268 shares of the company’s stock valued at $192,980,000 after acquiring an additional 467,505 shares in the last quarter. Finally, Jump Financial LLC increased its holdings in shares of Kenvue by 210.6% in the second quarter. Jump Financial LLC now owns 54,823 shares of the company’s stock worth $1,147,000 after purchasing an additional 37,170 shares during the period. 97.64% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Citigroup decreased their price objective on shares of Kenvue from $20.00 to $17.00 and set a “neutral” rating on the stock in a research report on Thursday, October 9th. JPMorgan Chase & Co. dropped their target price on Kenvue from $24.00 to $21.00 and set an “overweight” rating for the company in a research report on Friday, October 10th. Rothschild Redb upgraded shares of Kenvue from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 26th. Jefferies Financial Group decreased their price target on shares of Kenvue from $25.00 to $23.00 and set a “buy” rating on the stock in a research note on Monday, October 27th. Finally, UBS Group cut their price objective on shares of Kenvue from $23.00 to $17.00 and set a “neutral” rating for the company in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and thirteen have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $20.23.

Kenvue Stock Up 1.3%

Shares of NYSE KVUE opened at $16.98 on Wednesday. The firm’s fifty day moving average is $16.11 and its 200 day moving average is $19.19. Kenvue Inc. has a 52 week low of $14.02 and a 52 week high of $25.17. The company has a quick ratio of 0.69, a current ratio of 0.98 and a debt-to-equity ratio of 0.66. The company has a market cap of $32.52 billion, a price-to-earnings ratio of 22.64 and a beta of 0.60.

Kenvue (NYSE:KVUE) last announced its quarterly earnings results on Monday, November 3rd. The company reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.01. Kenvue had a net margin of 9.55% and a return on equity of 20.02%. The business had revenue of $3.76 billion for the quarter, compared to analyst estimates of $3.83 billion. During the same quarter last year, the firm earned $0.28 EPS. The company’s revenue was down 3.5% on a year-over-year basis. Kenvue has set its FY 2025 guidance at 1.000-1.050 EPS. On average, equities research analysts expect that Kenvue Inc. will post 1.14 earnings per share for the current year.

Kenvue Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 26th. Investors of record on Wednesday, November 12th were paid a $0.2075 dividend. The ex-dividend date of this dividend was Wednesday, November 12th. This represents a $0.83 annualized dividend and a dividend yield of 4.9%. Kenvue’s dividend payout ratio (DPR) is presently 110.67%.

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.