Man Group plc Invests $80.46 Million in Kenvue Inc. $KVUE

Man Group plc bought a new stake in shares of Kenvue Inc. (NYSE:KVUE) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 4,210,418 shares of the company’s stock, valued at approximately $80,461,000. Man Group plc owned about 0.22% of Kenvue at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the stock. BlackRock Inc. bought a new stake in shares of Kenvue in the 2nd quarter worth approximately $2,882,279,000. Norges Bank bought a new stake in shares of Kenvue during the fourth quarter valued at approximately $756,862,000. Independent Franchise Partners LLP increased its position in shares of Kenvue by 56.3% during the fourth quarter. Independent Franchise Partners LLP now owns 48,146,476 shares of the company’s stock valued at $830,527,000 after purchasing an additional 17,343,785 shares during the period. Legal & General Group Plc acquired a new position in shares of Kenvue in the second quarter valued at $253,393,000. Finally, Sculptor Capital LP raised its stake in shares of Kenvue by 1,023.5% in the fourth quarter. Sculptor Capital LP now owns 12,886,328 shares of the company’s stock valued at $222,289,000 after purchasing an additional 11,739,328 shares in the last quarter. 97.64% of the stock is owned by institutional investors.

Kenvue Price Performance

Shares of KVUE stock opened at $19.34 on Wednesday. The stock’s fifty day simple moving average is $19.10 and its 200 day simple moving average is $18.22. Kenvue Inc. has a one year low of $14.02 and a one year high of $21.40. The firm has a market cap of $37.16 billion, a price-to-earnings ratio of 22.24, a P/E/G ratio of 1.39 and a beta of 0.47. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.01 and a quick ratio of 0.71.

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

Kenvue Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Wednesday, August 12th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 4.3%. The ex-dividend date of this dividend is Wednesday, August 12th. This is a positive change from Kenvue’s previous quarterly dividend of $0.21. Kenvue’s payout ratio is currently 96.55%.

Analysts Set New Price Targets

Several research analysts recently commented on KVUE shares. Barclays raised 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. Weiss Ratings upgraded shares of Kenvue from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, June 15th. Zacks Research cut shares of Kenvue from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 7th. UBS Group decreased their target price on shares of Kenvue from $20.00 to $19.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 11th. Finally, Wall Street Zen lowered shares of Kenvue from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Three research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $19.27.

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.