Legal & General Group Plc Makes New Investment in Kenvue Inc. $KVUE

Legal & General Group Plc acquired a new position in shares of Kenvue Inc. (NYSE:KVUE) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 13,259,718 shares of the company’s stock, valued at approximately $253,393,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Elyxium Wealth LLC purchased a new position in shares of Kenvue during the 4th quarter valued at $26,000. Johnson Financial Group Inc. acquired a new position in Kenvue in the 2nd quarter worth about $26,000. MV Capital Management Inc. purchased a new stake in shares of Kenvue during the 4th quarter worth about $28,000. CoreCap Advisors LLC raised its stake in shares of Kenvue by 64.9% during the 2nd quarter. CoreCap Advisors LLC now owns 1,502 shares of the company’s stock worth $29,000 after purchasing an additional 591 shares in the last quarter. Finally, Reflection Asset Management acquired a new stake in shares of Kenvue during the 4th quarter valued at about $32,000. Hedge funds and other institutional investors own 97.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on KVUE. Weiss Ratings raised shares of Kenvue from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, June 15th. Barclays raised their price target on shares of Kenvue from $18.00 to $19.00 and gave the company an “equal weight” rating in a report on Tuesday, July 21st. UBS Group reduced 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. Zacks Research cut shares of Kenvue from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 7th. Finally, Wall Street Zen downgraded shares of Kenvue from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Three research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $19.27.

Kenvue Price Performance

Shares of Kenvue stock opened at $19.23 on Thursday. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.01 and a quick ratio of 0.71. The company has a market cap of $36.94 billion, a PE ratio of 22.10, a price-to-earnings-growth ratio of 1.38 and a beta of 0.47. The firm has a fifty day moving average price of $19.12 and a two-hundred day moving average price of $18.23. Kenvue Inc. has a fifty-two week low of $14.02 and a fifty-two week high of $20.95.

Kenvue (NYSE:KVUE) last posted 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). 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% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.29 EPS. Analysts expect that Kenvue Inc. will post 1.14 EPS for the current year.

Kenvue Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 26th. Investors of record on Wednesday, August 12th were paid a dividend of $0.21 per share. 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 4.4%. The ex-dividend date was Wednesday, August 12th. Kenvue’s dividend payout ratio is presently 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.