Cooke & Bieler LP Buys 799,654 Shares of Kenvue Inc. (NYSE:KVUE)

Cooke & Bieler LP increased its position in Kenvue Inc. (NYSE:KVUE) by 39.7% in the second quarter, HoldingsChannel reports. The firm owned 2,812,123 shares of the company’s stock after purchasing an additional 799,654 shares during the quarter. Cooke & Bieler LP’s holdings in Kenvue were worth $51,124,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of KVUE. Manchester Capital Management LLC grew its stake in shares of Kenvue by 80.8% during the first quarter. Manchester Capital Management LLC now owns 1,186 shares of the company’s stock valued at $25,000 after buying an additional 530 shares during the last quarter. Mather Group LLC. purchased a new stake in shares of Kenvue during the 1st quarter valued at $28,000. Pacific Capital Wealth Advisors Inc. purchased a new stake in shares of Kenvue during the 4th quarter valued at $28,000. MV Capital Management Inc. raised its stake in Kenvue by 71.2% in the 1st quarter. MV Capital Management Inc. now owns 1,544 shares of the company’s stock worth $33,000 after acquiring an additional 642 shares during the last quarter. Finally, Salomon & Ludwin LLC purchased a new position in Kenvue in the 1st quarter worth $33,000. Institutional investors own 97.64% of the company’s stock.

Kenvue Stock Performance

Shares of KVUE traded up $0.30 during mid-day trading on Wednesday, hitting $22.40. The stock had a trading volume of 5,932,182 shares, compared to its average volume of 18,519,471. The company has a market cap of $42.89 billion, a PE ratio of 28.33, a PEG ratio of 2.76 and a beta of 1.38. The company’s fifty day simple moving average is $19.67 and its two-hundred day simple moving average is $19.60. The company has a quick ratio of 0.68, a current ratio of 0.99 and a debt-to-equity ratio of 0.69. Kenvue Inc. has a fifty-two week low of $17.67 and a fifty-two week high of $22.98.

Kenvue (NYSE:KVUE) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.04. Kenvue had a return on equity of 21.80% and a net margin of 7.23%. The company had revenue of $4 billion for the quarter, compared to the consensus estimate of $3.93 billion. During the same quarter in the previous year, the business earned $0.32 EPS. The company’s quarterly revenue was down .3% compared to the same quarter last year. On average, equities analysts expect that Kenvue Inc. will post 1.08 earnings per share for the current year.

Kenvue Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 28th. Shareholders of record on Wednesday, August 14th were paid a $0.205 dividend. The ex-dividend date was Wednesday, August 14th. This represents a $0.82 dividend on an annualized basis and a yield of 3.66%. This is an increase from Kenvue’s previous quarterly dividend of $0.20. Kenvue’s payout ratio is 105.13%.

Analysts Set New Price Targets

KVUE has been the topic of several analyst reports. HSBC increased their price target on Kenvue from $20.00 to $21.00 and gave the stock a “hold” rating in a research report on Wednesday, May 8th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Kenvue from $23.00 to $24.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. UBS Group lifted their price target on shares of Kenvue from $20.00 to $22.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Royal Bank of Canada reiterated an “outperform” rating and issued a $24.00 target price on shares of Kenvue in a report on Wednesday, August 7th. Finally, Citigroup dropped their price target on shares of Kenvue from $21.00 to $20.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Kenvue presently has a consensus rating of “Hold” and an average price target 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.