Van ECK Associates Corp Sells 3,602,447 Shares of Kenvue Inc. $KVUE

Van ECK Associates Corp lessened its holdings in shares of Kenvue Inc. (NYSE:KVUE) by 17.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 17,014,735 shares of the company’s stock after selling 3,602,447 shares during the quarter. Van ECK Associates Corp’s holdings in Kenvue were worth $325,152,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Callan Family Office LLC purchased a new stake in Kenvue during the 2nd quarter valued at $835,000. Calamos Advisors LLC raised its stake in shares of Kenvue by 24.1% in the first quarter. Calamos Advisors LLC now owns 3,351,000 shares of the company’s stock valued at $57,771,000 after acquiring an additional 651,000 shares during the period. State of Wyoming lifted its holdings in shares of Kenvue by 233.5% in the 4th quarter. State of Wyoming now owns 97,992 shares of the company’s stock worth $1,690,000 after acquiring an additional 68,609 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its holdings in shares of Kenvue by 21.5% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 3,491,548 shares of the company’s stock worth $60,229,000 after acquiring an additional 618,720 shares during the last quarter. Finally, Nuance Investments LLC purchased a new position in shares of Kenvue during the second quarter valued at approximately $27,681,000. 97.64% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. UBS Group cut their price target on shares of Kenvue from $20.00 to $19.00 and set a “neutral” rating on the stock in a report on Tuesday, August 11th. Wall Street Zen cut shares of Kenvue from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Zacks Research downgraded shares of Kenvue from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 7th. Barclays lifted their price target on shares of Kenvue from $18.00 to $19.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 21st. Finally, Weiss Ratings raised Kenvue from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, June 15th. Three analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $19.27.

Kenvue Trading Down 0.3%

NYSE:KVUE opened at $19.15 on Friday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.71 and a current ratio of 1.01. The firm has a 50-day simple moving average of $19.16 and a 200-day simple moving average of $18.25. Kenvue Inc. has a one year low of $14.02 and a one year high of $20.82. The firm has a market cap of $36.78 billion, a P/E ratio of 22.01, a P/E/G ratio of 1.37 and a beta of 0.47.

Kenvue (NYSE:KVUE) last issued 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 business had revenue of $3.96 billion for the quarter, compared to analysts’ expectations of $3.97 billion. Kenvue had a net margin of 10.76% and a return on equity of 21.22%. The business’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.29 earnings per share. Equities 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 was paid on Wednesday, August 26th. Stockholders of record on Wednesday, August 12th were issued a $0.21 dividend. The ex-dividend date was Wednesday, August 12th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 4.4%. This is a boost from Kenvue’s previous quarterly dividend of $0.21. Kenvue’s dividend payout ratio (DPR) is 96.55%.

Kenvue Profile

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.