Korea Investment CORP Buys Shares of 1,356,959 Kenvue Inc. $KVUE

Korea Investment CORP purchased a new stake in Kenvue Inc. (NYSE:KVUE) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 1,356,959 shares of the company’s stock, valued at approximately $25,931,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Kenvue by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 234,951,484 shares of the company’s stock valued at $4,052,913,000 after buying an additional 1,604,040 shares during the period. BlackRock Inc. purchased a new position in Kenvue in the second quarter worth approximately $2,882,279,000. State Street Corp grew its position in Kenvue by 3.5% in the fourth quarter. State Street Corp now owns 118,865,134 shares of the company’s stock worth $2,050,424,000 after acquiring an additional 4,063,257 shares during the period. Geode Capital Management LLC increased its stake in Kenvue by 0.8% during the fourth quarter. Geode Capital Management LLC now owns 49,862,574 shares of the company’s stock worth $856,778,000 after acquiring an additional 371,322 shares during the last quarter. Finally, Independent Franchise Partners LLP increased its stake in Kenvue by 56.3% during the fourth quarter. Independent Franchise Partners LLP now owns 48,146,476 shares of the company’s stock worth $830,527,000 after acquiring an additional 17,343,785 shares during the last quarter. Institutional investors and hedge funds own 97.64% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on KVUE shares. Wall Street Zen downgraded Kenvue from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. 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 shares of Kenvue from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 7th. Barclays upped their target price on shares of Kenvue from $18.00 to $19.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 21st. Finally, UBS Group dropped their price target 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 given a Hold rating to the stock. According to MarketBeat, Kenvue has an average rating of “Hold” and an average target price of $19.27.

Kenvue Trading Up 0.1%

NYSE KVUE opened at $19.08 on Monday. 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 has a market cap 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 firm has a 50 day simple moving average of $19.05 and a 200-day simple moving average of $18.20. Kenvue Inc. has a one year low of $14.02 and a one year high of $21.78.

Kenvue (NYSE:KVUE) last announced its 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). The business had revenue of $3.96 billion for the quarter, compared to analysts’ expectations of $3.97 billion. Kenvue had a return on equity of 21.22% and a net margin of 10.76%.Kenvue’s quarterly revenue was up 3.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.29 earnings per share. Equities research analysts anticipate that Kenvue Inc. will post 1.14 EPS for the current fiscal year.

Kenvue Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Shareholders of record on Wednesday, August 12th will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 4.4%. This is a positive change from Kenvue’s previous quarterly dividend of $0.21. The ex-dividend date is Wednesday, August 12th. Kenvue’s payout ratio is presently 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.