Nuance Investments LLC Takes $27.68 Million Position in Kenvue Inc. $KVUE

Nuance Investments LLC bought a new stake in Kenvue Inc. (NYSE:KVUE) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 1,448,488 shares of the company’s stock, valued at approximately $27,681,000. Kenvue accounts for approximately 4.7% of Nuance Investments LLC’s holdings, making the stock its 6th largest position.

A number of other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Kenvue by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 234,951,484 shares of the company’s stock valued at $4,052,913,000 after acquiring an additional 1,604,040 shares in the last quarter. BlackRock Inc. bought a new stake in shares of Kenvue in the 2nd quarter worth approximately $2,882,279,000. State Street Corp grew its holdings in shares of Kenvue by 3.5% during the 4th quarter. State Street Corp now owns 118,865,134 shares of the company’s stock worth $2,050,424,000 after purchasing an additional 4,063,257 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Kenvue by 0.8% during the 4th quarter. Geode Capital Management LLC now owns 49,862,574 shares of the company’s stock worth $856,778,000 after purchasing an additional 371,322 shares in the last quarter. Finally, Independent Franchise Partners LLP increased its position in shares of Kenvue by 56.3% during the fourth 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 period. 97.64% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on KVUE. Wall Street Zen lowered Kenvue from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Zacks Research lowered shares of Kenvue from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 7th. UBS Group dropped their price objective on shares of Kenvue from $20.00 to $19.00 and set a “neutral” rating for the company in a research note on Tuesday, August 11th. Weiss Ratings raised shares of Kenvue from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, June 15th. Finally, Barclays lifted 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. Three investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $19.27.

Kenvue Price Performance

Shares of KVUE stock opened at $18.83 on Tuesday. The stock’s fifty day simple moving average is $18.98 and its 200 day simple moving average is $18.15. Kenvue Inc. has a one year low of $14.02 and a one year high of $21.84. The firm has a market cap of $36.17 billion, a price-to-earnings ratio of 21.64, a P/E/G ratio of 1.37 and a beta of 0.47. 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 (NYSE:KVUE) last released its quarterly earnings data on Thursday, August 6th. The company reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.01). Kenvue had a return on equity of 21.22% and a net margin of 10.76%.The company had revenue of $3.96 billion for the quarter, compared to analyst estimates of $3.97 billion. During the same quarter in the prior year, the company earned $0.29 earnings per share. The business’s revenue was up 3.0% compared to the same quarter last year. On average, analysts expect that Kenvue Inc. will post 1.14 earnings per share for the current fiscal year.

Kenvue Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Investors of record on Wednesday, August 12th will be issued a $0.21 dividend. This is a positive change from Kenvue’s previous quarterly dividend of $0.21. This represents a $0.84 annualized dividend and a yield of 4.5%. The ex-dividend date is Wednesday, August 12th. Kenvue’s dividend payout ratio (DPR) is 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.