Readystate Asset Management LP Boosts Holdings in Kenvue Inc. $KVUE

Readystate Asset Management LP raised its position in Kenvue Inc. (NYSE:KVUE) by 18.9% in the 2nd quarter, Holdings Channel.com reports. The fund owned 1,257,316 shares of the company’s stock after acquiring an additional 200,000 shares during the quarter. Kenvue makes up approximately 0.8% of Readystate Asset Management LP’s portfolio, making the stock its 28th biggest position. Readystate Asset Management LP’s holdings in Kenvue were worth $24,027,000 as of its most recent filing with the Securities & Exchange Commission.

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

Kenvue Trading Down 0.2%

Shares of Kenvue stock opened at $18.70 on Monday. The firm has a 50-day simple moving average of $19.19 and a two-hundred day simple moving average of $18.26. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.71 and a current ratio of 1.01. Kenvue Inc. has a fifty-two week low of $14.02 and a fifty-two week high of $20.69. The company has a market cap of $35.92 billion, a P/E ratio of 21.49, a price-to-earnings-growth ratio of 1.67 and a beta of 0.46.

Kenvue (NYSE:KVUE) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.01). The business had revenue of $3.96 billion during 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 for the quarter was up 3.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.29 EPS. As a group, equities analysts predict that Kenvue Inc. will post 1.14 earnings per share for the current fiscal year.

Kenvue Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 26th. Shareholders of record on Wednesday, August 12th were given a dividend of $0.21 per share. This is a boost from Kenvue’s previous quarterly dividend of $0.21. This represents a $0.84 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date was Wednesday, August 12th. Kenvue’s dividend payout ratio (DPR) is currently 96.55%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. UBS Group reduced their target price on Kenvue from $20.00 to $19.00 and set a “neutral” rating for the company in a research note on Tuesday, August 11th. Barclays increased their price objective on Kenvue from $18.00 to $19.00 and gave the company an “equal weight” rating in a report on Tuesday, July 21st. Wall Street Zen cut Kenvue from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Weiss Ratings raised Kenvue from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, June 15th. Finally, Zacks Research lowered Kenvue from a “strong-buy” rating to a “hold” rating in a research report 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 stock. According to MarketBeat, Kenvue currently has an average rating of “Hold” and an average target price of $19.27.

Kenvue Company 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.