Westpac Banking Corp Makes New $747,000 Investment in Kenvue Inc. $KVUE

Westpac Banking Corp purchased a new position in shares of Kenvue Inc. (NYSE:KVUE) during the second quarter, HoldingsChannel.com reports. The fund purchased 39,100 shares of the company’s stock, valued at approximately $747,000.

Several other institutional investors have also modified their holdings of the business. Johnson Financial Group Inc. acquired a new position in shares of Kenvue in the 2nd quarter valued at approximately $26,000. CoreCap Advisors LLC raised its holdings in Kenvue by 64.9% during the 2nd quarter. CoreCap Advisors LLC now owns 1,502 shares of the company’s stock worth $29,000 after buying an additional 591 shares during the period. Elyxium Wealth LLC acquired a new stake in Kenvue during the 4th quarter worth approximately $26,000. Physician Wealth Advisors Inc. lifted its stake in Kenvue by 67.5% in the fourth quarter. Physician Wealth Advisors Inc. now owns 1,533 shares of the company’s stock valued at $26,000 after buying an additional 618 shares in the last quarter. Finally, MV Capital Management Inc. bought a new position in Kenvue in the fourth quarter valued at approximately $28,000. Institutional investors own 97.64% of the company’s stock.

Kenvue Stock Performance

Shares of KVUE stock opened at $19.08 on Friday. The company’s fifty day simple moving average is $19.05 and its 200-day simple moving average is $18.19. The company has a quick ratio of 0.71, a current ratio of 1.01 and a debt-to-equity ratio of 0.67. The firm has a market cap of $36.65 billion, a PE ratio of 21.93, a P/E/G ratio of 1.36 and a beta of 0.47. Kenvue Inc. has a 12 month low of $14.02 and a 12 month high of $21.78.

Kenvue (NYSE:KVUE) last released its 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 the consensus estimate 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 last year, the business posted $0.29 EPS. Equities research analysts expect that Kenvue Inc. will post 1.14 EPS for the current fiscal year.

Kenvue Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Wednesday, August 12th will be paid a dividend of $0.21 per share. The ex-dividend date is Wednesday, August 12th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 4.4%. This is a positive change from Kenvue’s previous quarterly dividend of $0.21. Kenvue’s dividend payout ratio (DPR) is currently 96.55%.

Analysts Set New Price Targets

KVUE has been the subject of several research analyst reports. Weiss Ratings upgraded shares of Kenvue from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, June 15th. UBS Group dropped their price objective 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 cut Kenvue from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 7th. Finally, Barclays lifted their price target on Kenvue from $18.00 to $19.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 21st. Three equities research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target 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.