Daiichi Life Insurance Co. Ltd. Invests $1.11 Million in Kenvue Inc. $KVUE

Daiichi Life Insurance Co. Ltd. bought a new stake in shares of Kenvue Inc. (NYSE:KVUE) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 58,194 shares of the company’s stock, valued at approximately $1,112,000.

Several other large investors have also added to or reduced their stakes in the business. BlackRock Inc. bought a new stake in Kenvue in the second quarter worth approximately $2,882,279,000. Norges Bank bought a new position in shares of Kenvue during the 4th quarter worth approximately $756,862,000. Independent Franchise Partners LLP grew its position in shares of Kenvue by 56.3% during the 4th quarter. Independent Franchise Partners LLP now owns 48,146,476 shares of the company’s stock worth $830,527,000 after buying an additional 17,343,785 shares during the period. 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 in the 2nd quarter valued at $192,080,000. Institutional investors and hedge funds own 97.64% of the company’s stock.

Analysts Set New Price Targets

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

Kenvue Stock Up 1.8%

Shares of NYSE:KVUE opened at $19.41 on Tuesday. The business’s 50 day moving average is $19.08 and its 200 day moving average is $18.21. Kenvue Inc. has a 12-month low of $14.02 and a 12-month high of $21.63. The stock has a market cap of $37.27 billion, a price-to-earnings ratio of 22.30, a PEG ratio of 1.36 and a beta of 0.47. The company has a quick ratio of 0.71, a current ratio of 1.01 and a debt-to-equity ratio of 0.67.

Kenvue (NYSE:KVUE) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.31 EPS for the quarter, missing analysts’ consensus estimates 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 period in the previous year, the company posted $0.29 earnings per share. The company’s quarterly revenue was up 3.0% compared to the same quarter last year. On average, sell-side analysts forecast that Kenvue Inc. will post 1.14 earnings per share for the current fiscal year.

Kenvue Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Wednesday, August 12th will be issued a $0.21 dividend. This is an increase from Kenvue’s previous quarterly dividend of $0.21. This represents a $0.84 annualized dividend and a dividend yield of 4.3%. The ex-dividend date is Wednesday, August 12th. Kenvue’s dividend payout ratio is currently 96.55%.

About Kenvue

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.