Danske Bank A S Invests $22.92 Million in Kenvue Inc. $KVUE

Danske Bank A S acquired a new position in Kenvue Inc. (NYSE:KVUE) in the second quarter, Holdings Channel.com reports. The institutional investor acquired 1,199,267 shares of the company’s stock, valued at approximately $22,918,000.

Several other large investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in shares of Kenvue by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 234,951,484 shares of the company’s stock valued at $4,052,913,000 after purchasing an additional 1,604,040 shares in the last quarter. BlackRock Inc. acquired a new stake in Kenvue in the second quarter worth about $2,882,279,000. State Street Corp grew its position in Kenvue by 3.5% in the 4th quarter. State Street Corp now owns 118,865,134 shares of the company’s stock valued at $2,050,424,000 after buying an additional 4,063,257 shares in the last quarter. Geode Capital Management LLC grew its position in Kenvue by 0.8% in the 4th quarter. Geode Capital Management LLC now owns 49,862,574 shares of the company’s stock valued at $856,778,000 after buying an additional 371,322 shares in the last quarter. Finally, Independent Franchise Partners LLP increased its stake in Kenvue by 56.3% during the 4th quarter. Independent Franchise Partners LLP now owns 48,146,476 shares of the company’s stock valued at $830,527,000 after buying an additional 17,343,785 shares during the period. 97.64% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. UBS Group reduced their price target 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. Weiss Ratings upgraded shares of Kenvue from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, June 15th. Wall Street Zen cut Kenvue from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Barclays upped their target price on Kenvue from $18.00 to $19.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 21st. Finally, Zacks Research lowered Kenvue from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 7th. Three equities research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $19.27.

Kenvue Stock Performance

Shares of KVUE opened at $18.92 on Friday. 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 firm’s 50 day moving average is $19.04 and its 200-day moving average is $18.19. Kenvue Inc. has a 12-month low of $14.02 and a 12-month high of $21.78. The stock has a market capitalization of $36.34 billion, a P/E ratio of 21.75, a P/E/G ratio of 1.37 and a beta of 0.47.

Kenvue (NYSE:KVUE) last released its 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 business had revenue of $3.96 billion for the quarter, compared to analyst estimates of $3.97 billion. Kenvue had a net margin of 10.76% and a return on equity of 21.22%. The firm’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.29 earnings per share. Equities research analysts anticipate that Kenvue Inc. will post 1.14 EPS for the current fiscal year.

Kenvue Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Shareholders of record on Wednesday, August 12th will be issued a $0.21 dividend. This is an increase from Kenvue’s previous quarterly dividend of $0.21. This represents a $0.84 annualized dividend and a dividend yield of 4.4%. The ex-dividend date of this dividend is Wednesday, August 12th. Kenvue’s dividend 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.