Holocene Advisors LP Buys 5,975,392 Shares of Kenvue Inc. (NYSE:KVUE)

Holocene Advisors LP grew its position in Kenvue Inc. (NYSE:KVUE) by 75.5% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 13,886,454 shares of the company’s stock after purchasing an additional 5,975,392 shares during the period. Kenvue comprises approximately 1.3% of Holocene Advisors LP’s holdings, making the stock its 7th largest holding. Holocene Advisors LP’s holdings in Kenvue were worth $321,194,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in KVUE. Leo Wealth LLC lifted its position in Kenvue by 0.3% in the 3rd quarter. Leo Wealth LLC now owns 151,611 shares of the company’s stock worth $3,507,000 after buying an additional 481 shares in the last quarter. Alerus Financial NA raised its holdings in shares of Kenvue by 0.3% during the third quarter. Alerus Financial NA now owns 191,345 shares of the company’s stock worth $4,426,000 after acquiring an additional 491 shares in the last quarter. Massmutual Trust Co. FSB ADV raised its holdings in shares of Kenvue by 6.2% during the third quarter. Massmutual Trust Co. FSB ADV now owns 8,400 shares of the company’s stock worth $194,000 after acquiring an additional 492 shares in the last quarter. Wolff Wiese Magana LLC boosted its position in Kenvue by 0.7% during the third quarter. Wolff Wiese Magana LLC now owns 76,999 shares of the company’s stock valued at $1,781,000 after purchasing an additional 501 shares during the last quarter. Finally, Marathon Capital Management grew its stake in Kenvue by 0.3% in the second quarter. Marathon Capital Management now owns 149,699 shares of the company’s stock valued at $2,722,000 after purchasing an additional 514 shares in the last quarter. 97.64% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Deutsche Bank Aktiengesellschaft boosted their price target on Kenvue from $23.00 to $24.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. Piper Sandler boosted their target price on shares of Kenvue from $20.00 to $21.00 and gave the stock a “neutral” rating in a research report on Monday, September 23rd. Royal Bank of Canada downgraded shares of Kenvue from an “outperform” rating to a “sector perform” rating and set a $24.00 price target on the stock. in a report on Tuesday, September 24th. Jefferies Financial Group began coverage on shares of Kenvue in a report on Tuesday, September 24th. They issued a “buy” rating and a $27.00 price objective for the company. Finally, UBS Group raised their target price on Kenvue from $20.00 to $22.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Kenvue presently has an average rating of “Hold” and an average target price of $22.64.

Kenvue Trading Down 0.2 %

Shares of Kenvue stock opened at $24.08 on Monday. Kenvue Inc. has a 1 year low of $17.67 and a 1 year high of $24.46. The company’s fifty day simple moving average is $22.94 and its 200-day simple moving average is $20.99. The company has a market cap of $46.17 billion, a price-to-earnings ratio of 43.78, a PEG ratio of 2.19 and a beta of 1.36. The company has a current ratio of 1.00, a quick ratio of 0.69 and a debt-to-equity ratio of 0.66.

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

Kenvue Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th were issued a $0.205 dividend. The ex-dividend date was Wednesday, November 13th. This represents a $0.82 annualized dividend and a yield of 3.41%. Kenvue’s dividend payout ratio (DPR) is 149.09%.

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.