K2 Principal Fund L.P. Takes $4.38 Million Position in Kenvue Inc. $KVUE

K2 Principal Fund L.P. bought a new position in shares of Kenvue Inc. (NYSE:KVUE) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 229,093 shares of the company’s stock, valued at approximately $4,378,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Physician Wealth Advisors Inc. grew its holdings in Kenvue by 67.5% during the 4th quarter. Physician Wealth Advisors Inc. now owns 1,533 shares of the company’s stock valued at $26,000 after purchasing an additional 618 shares in the last quarter. Elyxium Wealth LLC acquired a new position in Kenvue in the 4th quarter worth $26,000. MV Capital Management Inc. acquired a new position in Kenvue in the 4th quarter worth $28,000. CoreCap Advisors LLC boosted its position in Kenvue by 64.9% in the 2nd quarter. CoreCap Advisors LLC now owns 1,502 shares of the company’s stock valued at $29,000 after buying an additional 591 shares during the last quarter. Finally, Reflection Asset Management acquired a new stake in shares of Kenvue during the fourth quarter valued at about $32,000. 97.64% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Kenvue Price Performance

KVUE opened at $18.82 on Wednesday. The company has a market capitalization of $36.15 billion, a P/E ratio of 21.63, a PEG ratio of 1.37 and a beta of 0.47. The company has a 50-day moving average of $19.00 and a 200-day moving average of $18.16. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.71 and a current ratio of 1.01. Kenvue Inc. has a 1-year low of $14.02 and a 1-year high of $21.84.

Kenvue (NYSE:KVUE) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.31 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.01). The company had revenue of $3.96 billion for the quarter, compared to the consensus estimate of $3.97 billion. Kenvue had a return on equity of 21.22% and a net margin of 10.76%.The business’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.29 EPS. Equities analysts expect that Kenvue Inc. will post 1.14 EPS for the current fiscal year.

Kenvue Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 26th. Shareholders of record on Wednesday, August 12th will be paid a dividend of $0.21 per share. The ex-dividend date is Wednesday, August 12th. This is an increase from Kenvue’s previous quarterly dividend of $0.21. This represents a $0.84 annualized dividend and a yield of 4.5%. Kenvue’s 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.