Mitsubishi UFJ Asset Management Co. Ltd. Grows Position in Kenvue Inc. (NYSE:KVUE)

Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Kenvue Inc. (NYSE:KVUE) by 12.6% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,063,360 shares of the company’s stock after purchasing an additional 454,148 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Kenvue were worth $97,439,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. Pittenger & Anderson Inc. acquired a new position in Kenvue during the first quarter worth $30,000. TruNorth Capital Management LLC acquired a new stake in Kenvue in the first quarter valued at $36,000. Bank Julius Baer & Co. Ltd Zurich increased its position in shares of Kenvue by 120.6% in the first quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,699 shares of the company’s stock valued at $41,000 after buying an additional 929 shares in the last quarter. Clarity Asset Management Inc. acquired a new position in shares of Kenvue during the 4th quarter worth $45,000. Finally, Continuum Advisory LLC boosted its position in shares of Kenvue by 2,071.1% in the 1st quarter. Continuum Advisory LLC now owns 1,954 shares of the company’s stock worth $47,000 after buying an additional 1,864 shares in the last quarter. 97.64% of the stock is currently owned by hedge funds and other institutional investors.

Kenvue Trading Up 1.5%

Shares of Kenvue stock opened at $21.77 on Friday. Kenvue Inc. has a fifty-two week low of $19.75 and a fifty-two week high of $25.17. The business’s fifty day moving average is $21.67 and its two-hundred day moving average is $22.40. The company has a quick ratio of 0.60, a current ratio of 0.86 and a debt-to-equity ratio of 0.63. The firm has a market cap of $41.76 billion, a PE ratio of 39.58, a P/E/G ratio of 3.59 and a beta of 0.83.

Kenvue (NYSE:KVUE) last released its earnings results on Thursday, August 7th. The company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.01. The firm had revenue of $3.84 billion for the quarter, compared to the consensus estimate of $3.94 billion. Kenvue had a return on equity of 20.87% and a net margin of 6.90%. The firm’s revenue for the quarter was down 4.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.32 earnings per share. Analysts anticipate that Kenvue Inc. will post 1.14 earnings per share for the current year.

Kenvue Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 27th. Investors of record on Wednesday, August 13th will be given a dividend of $0.2075 per share. This represents a $0.83 annualized dividend and a yield of 3.8%. This is a positive change from Kenvue’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Wednesday, August 13th. Kenvue’s dividend payout ratio (DPR) is currently 149.09%.

Analyst Ratings Changes

KVUE has been the topic of a number of research reports. Barclays lowered their price objective on shares of Kenvue from $23.00 to $22.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 15th. UBS Group dropped their price objective on shares of Kenvue from $25.00 to $23.00 and set a “neutral” rating for the company in a research note on Thursday, July 17th. Redburn Atlantic began coverage on Kenvue in a research report on Thursday, April 10th. They set a “neutral” rating and a $23.50 price objective for the company. Bank of America reduced their target price on Kenvue from $27.00 to $25.00 and set a “buy” rating on the stock in a research note on Tuesday, July 15th. Finally, Citigroup dropped their price target on Kenvue from $24.50 to $22.00 and set a “neutral” rating for the company in a research report on Tuesday, July 15th. Seven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $24.79.

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.