Readystate Asset Management LP Makes New $12.51 Million Investment in Kenvue Inc. (NYSE:KVUE)

Readystate Asset Management LP acquired a new position in shares of Kenvue Inc. (NYSE:KVUE) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 580,850 shares of the company’s stock, valued at approximately $12,506,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in KVUE. Empirical Finance LLC bought a new stake in shares of Kenvue in the 3rd quarter valued at about $336,000. UniSuper Management Pty Ltd bought a new stake in shares of Kenvue in the 3rd quarter valued at about $35,544,000. Howland Capital Management LLC bought a new stake in shares of Kenvue in the 3rd quarter valued at about $7,764,000. Citizens Business Bank bought a new stake in shares of Kenvue in the 3rd quarter valued at about $2,507,000. Finally, Fifth Third Bancorp increased its stake in shares of Kenvue by 35.3% in the 4th quarter. Fifth Third Bancorp now owns 277,580 shares of the company’s stock valued at $5,976,000 after acquiring an additional 72,435 shares during the last quarter. 97.64% of the stock is owned by institutional investors.

Kenvue Stock Up 0.8 %

Shares of NYSE KVUE traded up $0.16 during trading hours on Wednesday, hitting $19.27. The company had a trading volume of 10,022,862 shares, compared to its average volume of 16,779,541. The company has a current ratio of 1.12, a quick ratio of 0.78 and a debt-to-equity ratio of 0.69. Kenvue Inc. has a 1-year low of $17.82 and a 1-year high of $27.80. The firm’s 50 day moving average is $19.83 and its 200-day moving average is $20.17.

Kenvue (NYSE:KVUE) last released its quarterly earnings data on Thursday, February 8th. The company reported $0.31 EPS for the quarter, beating the consensus estimate of $0.28 by $0.03. The company had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.78 billion. Kenvue had a return on equity of 15.62% and a net margin of 9.87%. The business’s revenue was down 2.7% on a year-over-year basis. Analysts predict that Kenvue Inc. will post 1.17 EPS for the current year.

Kenvue Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 28th. Stockholders of record on Wednesday, February 14th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 4.15%. The ex-dividend date of this dividend was Tuesday, February 13th.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. JPMorgan Chase & Co. decreased their price objective on Kenvue from $25.00 to $24.00 and set an “overweight” rating for the company in a research report on Friday, February 9th. William Blair assumed coverage on Kenvue in a research report on Wednesday, April 3rd. They issued a “market perform” rating for the company. Sanford C. Bernstein assumed coverage on Kenvue in a research report on Thursday, April 11th. They issued an “underperform” rating and a $18.00 price objective for the company. Royal Bank of Canada decreased their price objective on Kenvue from $25.00 to $24.00 and set an “outperform” rating for the company in a research report on Friday, February 9th. Finally, The Goldman Sachs Group assumed coverage on Kenvue in a research report on Friday, March 1st. They issued a “neutral” rating and a $20.00 price objective for the company. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $24.85.

Kenvue Company Profile

Kenvue Inc operates as a consumer health company worldwide. The company operates through three segments: Self Care, Skin Health and Beauty, and Essential Health. The Self Care segment offers cough, cold and allergy, pain care, digestive health, smoking cessation, eye care, and other products under the Tylenol, Motrin, Benadryl, Nicorette, Zarbee's, ORSLTM, Rhinocort, Calpol, and Zyrtec brands.