Absolute Gestao de Investimentos Ltda. Takes Position in Kenvue Inc. $KVUE

Absolute Gestao de Investimentos Ltda. bought a new position in shares of Kenvue Inc. (NYSE:KVUE) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund bought 923,260 shares of the company’s stock, valued at approximately $15,917,000. Kenvue comprises about 1.8% of Absolute Gestao de Investimentos Ltda.’s portfolio, making the stock its 16th biggest holding.

Other hedge funds have also added to or reduced their stakes in the company. OMERS ADMINISTRATION Corp boosted its holdings in shares of Kenvue by 3.7% during the 1st quarter. OMERS ADMINISTRATION Corp now owns 581,393 shares of the company’s stock worth $10,023,000 after buying an additional 20,589 shares during the period. Lombard Odier Asset Management Switzerland SA boosted its holdings in shares of Kenvue by 11.9% during the first quarter. Lombard Odier Asset Management Switzerland SA now owns 51,718 shares of the company’s stock worth $892,000 after acquiring an additional 5,500 shares during the period. Waverly Advisors LLC boosted its holdings in shares of Kenvue by 15.6% during the first quarter. Waverly Advisors LLC now owns 14,099 shares of the company’s stock worth $243,000 after acquiring an additional 1,904 shares during the period. Kryger Capital LLC acquired a new position in shares of Kenvue in the first quarter valued at approximately $89,840,000. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its position in shares of Kenvue by 187.4% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 3,606,388 shares of the company’s stock valued at $62,174,000 after purchasing an additional 2,351,653 shares during the last quarter. Institutional investors and hedge funds own 97.64% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Barclays raised their price target on shares of Kenvue from $18.00 to $19.00 and gave the stock an “equal weight” rating in a research report on Tuesday. Zacks Research downgraded shares of Kenvue from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 7th. Citigroup decreased 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 Wednesday, April 15th. Weiss Ratings upgraded shares of Kenvue from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, June 15th. Finally, UBS Group lifted their price target on shares of Kenvue from $18.00 to $20.00 and gave the company a “neutral” rating in a research report on Thursday, July 16th. Three investment analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $19.58.

Kenvue Price Performance

Shares of NYSE:KVUE opened at $19.25 on Friday. Kenvue Inc. has a one year low of $14.02 and a one year high of $22.87. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.98 and a quick ratio of 0.70. The company has a market cap of $36.97 billion, a price-to-earnings ratio of 22.65, a PEG ratio of 1.46 and a beta of 0.47. The firm has a 50 day simple moving average of $18.38 and a 200 day simple moving average of $17.92.

Kenvue (NYSE:KVUE) last posted its earnings results on Thursday, May 7th. The company reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.05. Kenvue had a net margin of 10.61% and a return on equity of 20.81%. The firm had revenue of $3.91 billion for the quarter, compared to analysts’ expectations of $3.84 billion. During the same quarter in the previous year, the firm posted $0.24 earnings per share. The company’s revenue was up 4.5% on a year-over-year basis. Research analysts predict that Kenvue Inc. will post 1.16 earnings per share for the current fiscal year.

Kenvue Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 27th. Shareholders of record on Wednesday, May 13th were given a $0.2075 dividend. This represents a $0.83 annualized dividend and a yield of 4.3%. The ex-dividend date was Wednesday, May 13th. Kenvue’s dividend payout ratio is 97.65%.

Insider Activity

In other news, General Counsel Matthew Orlando sold 38,491 shares of Kenvue stock in a transaction on Friday, May 8th. The shares were sold at an average price of $17.66, for a total transaction of $679,751.06. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 1.59% of the company’s stock.

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.