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

Readystate Asset Management LP purchased a new position in shares of Kenvue Inc. (NYSE:KVUE) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 580,850 shares of the company’s stock, valued at approximately $12,506,000.

A number of other institutional investors have also added to or reduced their stakes in KVUE. Vanguard Group Inc. purchased a new stake in Kenvue during the 3rd quarter worth about $2,944,816,000. FMR LLC raised its holdings in shares of Kenvue by 572.1% in the 3rd quarter. FMR LLC now owns 89,182,980 shares of the company’s stock valued at $1,790,794,000 after acquiring an additional 75,913,107 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of Kenvue by 576.1% in the 3rd quarter. Wellington Management Group LLP now owns 71,686,830 shares of the company’s stock valued at $1,439,472,000 after acquiring an additional 61,084,123 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Kenvue by 227.7% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 61,091,189 shares of the company’s stock valued at $1,226,711,000 after acquiring an additional 42,449,470 shares in the last quarter. Finally, Morgan Stanley raised its holdings in shares of Kenvue by 4,057.4% in the 3rd quarter. Morgan Stanley now owns 31,162,614 shares of the company’s stock valued at $625,745,000 after acquiring an additional 30,413,040 shares in the last quarter. Hedge funds and other institutional investors own 97.64% of the company’s stock.

Analyst Ratings Changes

KVUE has been the topic of several recent analyst reports. Sanford C. Bernstein initiated coverage on Kenvue in a report on Thursday, April 11th. They issued an “underperform” rating and a $18.00 price target on the stock. William Blair initiated coverage on Kenvue in a report on Wednesday, April 3rd. They issued a “market perform” rating on the stock. Royal Bank of Canada lowered their price target on Kenvue from $25.00 to $24.00 and set an “outperform” rating on the stock in a report on Friday, February 9th. UBS Group raised their price target on Kenvue from $20.00 to $23.00 and gave the company a “neutral” rating in a report on Tuesday, December 19th. Finally, JPMorgan Chase & Co. decreased their price objective on Kenvue from $25.00 to $24.00 and set an “overweight” rating on the stock in a report on Friday, February 9th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, Kenvue currently has a consensus rating of “Hold” and a consensus target price of $24.85.

Kenvue Price Performance

KVUE traded up $0.16 on Wednesday, hitting $19.27. 10,022,862 shares of the company were exchanged, compared to its average volume of 16,779,541. The firm has a fifty day simple moving average of $19.83 and a two-hundred day simple moving average of $20.17. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.12 and a quick ratio of 0.78. Kenvue Inc. has a 12 month low of $17.82 and a 12 month high of $27.80.

Kenvue (NYSE:KVUE) last posted its quarterly earnings results on Thursday, February 8th. The company reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.03. The business had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.78 billion. Kenvue had a return on equity of 15.62% and a net margin of 9.87%. The firm’s revenue was down 2.7% on a year-over-year basis. Equities research analysts forecast that Kenvue Inc. will post 1.17 earnings per share for the current year.

Kenvue Dividend Announcement

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

About Kenvue

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.