Mediolanum International Funds Ltd Buys New Holdings in Kenvue Inc. (NYSE:KVUE)

Mediolanum International Funds Ltd purchased a new stake in shares of Kenvue Inc. (NYSE:KVUE) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 31,724 shares of the company’s stock, valued at approximately $680,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Kenvue by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 148,880,588 shares of the company’s stock valued at $3,205,399,000 after acquiring an additional 2,226,390 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Kenvue by 19.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 109,327,221 shares of the company’s stock worth $2,353,816,000 after purchasing an additional 18,118,056 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of Kenvue by 6.7% in the fourth quarter. Wellington Management Group LLP now owns 76,501,956 shares of the company’s stock worth $1,647,087,000 after buying an additional 4,815,126 shares during the period. Massachusetts Financial Services Co. MA grew its stake in shares of Kenvue by 9.1% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 66,665,454 shares of the company’s stock valued at $1,435,307,000 after buying an additional 5,574,265 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of Kenvue by 10.6% during the 1st quarter. Bank of New York Mellon Corp now owns 35,897,723 shares of the company’s stock valued at $770,365,000 after buying an additional 3,438,207 shares during the period. 97.64% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have issued reports on KVUE. Sanford C. Bernstein assumed coverage on shares of Kenvue in a research report on Thursday, April 11th. They issued an “underperform” rating and a $18.00 price objective for the company. William Blair initiated coverage on shares of Kenvue in a report on Wednesday, April 3rd. They set a “market perform” rating for the company. HSBC lifted their price target on shares of Kenvue from $20.00 to $21.00 and gave the stock a “hold” rating in a research note on Wednesday, May 8th. Finally, Citigroup restated a “neutral” rating and set a $21.00 target price on shares of Kenvue in a research note on Tuesday, May 28th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $23.09.

Kenvue Stock Down 2.9 %

NYSE KVUE traded down $0.53 on Wednesday, hitting $17.69. 24,692,495 shares of the stock traded hands, compared to its average volume of 19,371,775. The company has a current ratio of 0.99, a quick ratio of 0.68 and a debt-to-equity ratio of 0.66. The stock has a 50-day moving average of $19.05 and a 200 day moving average of $19.81. Kenvue Inc. has a twelve month low of $17.67 and a twelve month high of $25.61. The company has a market capitalization of $33.87 billion, a P/E ratio of 22.68, a price-to-earnings-growth ratio of 1.93 and a beta of 1.40.

Kenvue (NYSE:KVUE) last posted its quarterly earnings results on Tuesday, May 7th. The company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.03. The business had revenue of $2.89 billion for the quarter, compared to analyst estimates of $3.79 billion. Kenvue had a return on equity of 21.06% and a net margin of 9.63%. The firm’s quarterly revenue was down 24.9% on a year-over-year basis. As a group, analysts expect that Kenvue Inc. will post 1.17 earnings per share for the current fiscal year.

Kenvue Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 22nd. Stockholders of record on Wednesday, May 8th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 4.52%. The ex-dividend date was Tuesday, May 7th. Kenvue’s dividend payout ratio (DPR) is presently 102.56%.

About Kenvue

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.