Polar Asset Management Partners Inc. Buys Shares of 405,241 Kenvue Inc. $KVUE

Polar Asset Management Partners Inc. bought a new position in shares of Kenvue Inc. (NYSE:KVUE) during the second quarter, HoldingsChannel reports. The fund bought 405,241 shares of the company’s stock, valued at approximately $7,744,000.

A number of other large investors also recently modified their holdings of the company. Physician Wealth Advisors Inc. boosted its holdings in shares of Kenvue by 67.5% during the 4th quarter. Physician Wealth Advisors Inc. now owns 1,533 shares of the company’s stock valued at $26,000 after acquiring an additional 618 shares in the last quarter. Elyxium Wealth LLC acquired a new position in Kenvue in the 4th quarter worth about $26,000. Johnson Financial Group Inc. acquired a new position in Kenvue in the 2nd quarter worth about $26,000. MV Capital Management Inc. bought a new position in Kenvue in the fourth quarter valued at about $28,000. Finally, CoreCap Advisors LLC raised its position in Kenvue by 64.9% in the second quarter. CoreCap Advisors LLC now owns 1,502 shares of the company’s stock valued at $29,000 after purchasing an additional 591 shares during the last quarter. 97.64% of the stock is currently owned by institutional investors.

Kenvue Stock Performance

NYSE:KVUE opened at $19.34 on Wednesday. The company has a market capitalization of $37.16 billion, a PE ratio of 22.24, a P/E/G ratio of 1.39 and a beta of 0.47. The company has a 50 day simple moving average of $19.10 and a two-hundred day simple moving average of $18.22. 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 $21.40.

Kenvue (NYSE:KVUE) last released its quarterly earnings results 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 firm had revenue of $3.96 billion for the quarter, compared to the consensus estimate of $3.97 billion. Kenvue had a return on equity of 21.22% and a net margin of 10.76%.The firm’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.29 EPS. Research analysts anticipate that Kenvue Inc. will post 1.14 earnings per share for the current year.

Kenvue Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 26th. Investors of record on Wednesday, August 12th will be paid 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 4.3%. The ex-dividend date of this dividend is Wednesday, August 12th. Kenvue’s payout ratio is 96.55%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on KVUE shares. Zacks Research cut Kenvue from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 7th. 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 cut 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. Wall Street Zen lowered shares of Kenvue from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Finally, Barclays upped their price target on shares of Kenvue from $18.00 to $19.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 21st. Three research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus 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.