Daiwa Securities Group Inc. Grows Stake in Kenvue Inc. (NYSE:KVUE)

Daiwa Securities Group Inc. grew its stake in shares of Kenvue Inc. (NYSE:KVUE) by 10.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 253,455 shares of the company’s stock after purchasing an additional 23,936 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Kenvue were worth $5,862,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of KVUE. Massachusetts Financial Services Co. MA grew its holdings in Kenvue by 8.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 86,979,341 shares of the company’s stock valued at $2,011,832,000 after purchasing an additional 7,115,374 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Kenvue by 21.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 43,444,085 shares of the company’s stock valued at $789,813,000 after buying an additional 7,546,362 shares during the last quarter. American Century Companies Inc. grew its stake in shares of Kenvue by 20.7% during the second quarter. American Century Companies Inc. now owns 27,382,644 shares of the company’s stock valued at $497,816,000 after acquiring an additional 4,700,697 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Kenvue by 2.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 24,411,207 shares of the company’s stock worth $564,689,000 after acquiring an additional 547,874 shares during the last quarter. Finally, Van ECK Associates Corp lifted its stake in shares of Kenvue by 110.9% in the second quarter. Van ECK Associates Corp now owns 20,510,427 shares of the company’s stock worth $372,880,000 after acquiring an additional 10,783,258 shares in the last quarter. Hedge funds and other institutional investors own 97.64% of the company’s stock.

Kenvue Trading Down 0.5 %

Kenvue stock opened at $24.12 on Wednesday. Kenvue Inc. has a 1 year low of $17.67 and a 1 year high of $24.46. The firm’s 50-day moving average is $22.87 and its 200-day moving average is $20.92. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.69 and a current ratio of 1.00. The company has a market cap of $46.24 billion, a P/E ratio of 43.85, a PEG ratio of 2.19 and a beta of 1.36.

Kenvue (NYSE:KVUE) last issued its earnings results on Thursday, November 7th. The company reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.01. The firm had revenue of $3.90 billion for the quarter, compared to analysts’ expectations of $3.92 billion. Kenvue had a net margin of 6.88% and a return on equity of 21.43%. Kenvue’s revenue was down .4% on a year-over-year basis. During the same quarter last year, the company posted $0.31 earnings per share. On average, equities analysts expect that Kenvue Inc. will post 1.07 earnings per share for the current year.

Kenvue Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th will be paid a dividend of $0.205 per share. The ex-dividend date is Wednesday, November 13th. This represents a $0.82 dividend on an annualized basis and a yield of 3.40%. Kenvue’s payout ratio is currently 149.09%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Royal Bank of Canada lowered Kenvue from an “outperform” rating to a “sector perform” rating and set a $24.00 price objective for the company. in a research note on Tuesday, September 24th. JPMorgan Chase & Co. raised their price target on shares of Kenvue from $24.00 to $25.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. UBS Group upped their price target on shares of Kenvue from $20.00 to $22.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Piper Sandler raised their price objective on shares of Kenvue from $20.00 to $21.00 and gave the stock a “neutral” rating in a report on Monday, September 23rd. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of Kenvue from $23.00 to $24.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Kenvue currently has a consensus rating of “Hold” and an average target price of $22.64.

Kenvue 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.