OP Asset Management Ltd Takes Position in Kenvue Inc. $KVUE

OP Asset Management Ltd bought a new stake in shares of Kenvue Inc. (NYSE:KVUE) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 199,423 shares of the company’s stock, valued at approximately $3,438,000.

Several other institutional investors and hedge funds have also bought and sold shares of KVUE. Vanguard Group Inc. boosted its stake in shares of Kenvue by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 234,951,484 shares of the company’s stock valued at $4,052,913,000 after purchasing an additional 1,604,040 shares during the period. State Street Corp raised its holdings in Kenvue by 3.5% during the 4th quarter. State Street Corp now owns 118,865,134 shares of the company’s stock valued at $2,050,424,000 after buying an additional 4,063,257 shares during the last quarter. Geode Capital Management LLC raised its holdings in Kenvue by 0.8% during the 4th quarter. Geode Capital Management LLC now owns 49,862,574 shares of the company’s stock valued at $856,778,000 after buying an additional 371,322 shares during the last quarter. Independent Franchise Partners LLP boosted its position in Kenvue by 56.3% during the 4th quarter. Independent Franchise Partners LLP now owns 48,146,476 shares of the company’s stock valued at $830,527,000 after buying an additional 17,343,785 shares during the period. Finally, Norges Bank purchased a new stake in Kenvue during the 4th quarter valued at $756,862,000. 97.64% of the stock is currently owned by institutional investors.

Kenvue Stock Up 1.0%

Shares of NYSE KVUE opened at $19.14 on Friday. The firm has a fifty day simple moving average of $17.66 and a two-hundred day simple moving average of $17.63. Kenvue Inc. has a 12 month low of $14.02 and a 12 month high of $22.87. The company has a current ratio of 0.98, a quick ratio of 0.70 and a debt-to-equity ratio of 0.67. The firm has a market capitalization of $36.76 billion, a PE ratio of 22.52, a price-to-earnings-growth ratio of 1.44 and a beta of 0.54.

Kenvue (NYSE:KVUE) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.05. Kenvue had a net margin of 10.61% and a return on equity of 20.81%. The company had revenue of $3.91 billion for the quarter, compared to analysts’ expectations of $3.84 billion. During the same quarter in the previous year, the company earned $0.24 earnings per share. Kenvue’s quarterly revenue was up 4.5% on a year-over-year basis. Equities analysts expect that Kenvue Inc. will post 1.16 earnings per share for the current year.

Kenvue Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 27th. Shareholders of record on Wednesday, May 13th were issued a dividend of $0.2075 per share. The ex-dividend date was Wednesday, May 13th. This represents a $0.83 dividend on an annualized basis and a dividend yield of 4.3%. Kenvue’s dividend payout ratio is 97.65%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Barclays cut their price target on shares of Kenvue from $19.00 to $18.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 14th. Citigroup cut their target price on Kenvue from $20.00 to $19.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 15th. UBS Group reduced their price target on Kenvue from $19.00 to $18.00 and set a “neutral” rating on the stock in a report on Tuesday, April 7th. Weiss Ratings upgraded Kenvue from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, June 15th. Finally, Zacks Research upgraded Kenvue from a “hold” rating to a “strong-buy” rating in a report on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and twelve have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $19.33.

Insider Activity

In other news, General Counsel Matthew Orlando sold 38,491 shares of the stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $17.66, for a total value of $679,751.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.59% of the company’s stock.

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.