Norges Bank Invests $756.86 Million in Kenvue Inc. $KVUE

Norges Bank purchased a new position in shares of Kenvue Inc. (NYSE:KVUE) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 43,876,034 shares of the company’s stock, valued at approximately $756,862,000. Norges Bank owned about 2.29% of Kenvue at the end of the most recent reporting period.

Several other large investors have also modified their holdings of KVUE. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Kenvue during the second quarter worth approximately $6,528,000. Jump Financial LLC increased its position in shares of Kenvue by 210.6% in the second quarter. Jump Financial LLC now owns 54,823 shares of the company’s stock valued at $1,147,000 after buying an additional 37,170 shares in the last quarter. AXA S.A. increased its position in shares of Kenvue by 21.1% in the second quarter. AXA S.A. now owns 48,892 shares of the company’s stock valued at $1,023,000 after buying an additional 8,524 shares in the last quarter. NewEdge Advisors LLC increased its position in shares of Kenvue by 219.1% in the second quarter. NewEdge Advisors LLC now owns 97,481 shares of the company’s stock valued at $2,040,000 after buying an additional 66,930 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in shares of Kenvue by 0.6% in the second quarter. The Manufacturers Life Insurance Company now owns 1,873,705 shares of the company’s stock valued at $39,217,000 after buying an additional 10,885 shares in the last quarter. Hedge funds and other institutional investors own 97.64% of the company’s stock.

Insider Activity at Kenvue

In other news, General Counsel Matthew Orlando sold 38,491 shares of Kenvue stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $17.66, for a total value of $679,751.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.59% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on KVUE. Argus raised Kenvue to a “hold” rating in a research note on Friday, March 6th. Barclays decreased their price objective on Kenvue from $19.00 to $18.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 14th. UBS Group decreased their price target on Kenvue from $19.00 to $18.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 7th. Weiss Ratings lowered Kenvue from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday. Finally, Canaccord Genuity Group raised their price objective on Kenvue from $17.00 to $18.00 and gave the stock a “hold” rating in a report on Wednesday, February 18th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and twelve have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $19.33.

Kenvue Stock Performance

Shares of NYSE:KVUE opened at $17.29 on Friday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.70 and a current ratio of 0.98. Kenvue Inc. has a one year low of $14.02 and a one year high of $23.90. The business’s 50-day simple moving average is $17.40 and its 200 day simple moving average is $17.46. The company has a market cap of $33.19 billion, a P/E ratio of 20.34, a PEG ratio of 1.31 and a beta of 0.55.

Kenvue (NYSE:KVUE) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.05. Kenvue had a return on equity of 20.81% and a net margin of 10.61%.The company had revenue of $3.91 billion for the quarter, compared to the consensus estimate of $3.84 billion. During the same period in the previous year, the business earned $0.24 EPS. Kenvue’s revenue for the quarter was up 4.5% compared to the same quarter last year. On average, sell-side analysts forecast that Kenvue Inc. will post 1.16 earnings per share for the current fiscal year.

Kenvue Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 27th. Stockholders of record on Wednesday, May 13th were given a $0.2075 dividend. The ex-dividend date was Wednesday, May 13th. This represents a $0.83 annualized dividend and a dividend yield of 4.8%. Kenvue’s dividend payout ratio (DPR) is presently 97.65%.

About Kenvue

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.