The Vanguard Group, Inc. recently announced the acquisition of new stake in Kenvue Inc (NYSE:KVUE). This fresh investment now brings its stake to 7.38% valued currently at $2.89 billion. In addition, T. Rowe Price Associates, Inc. raised its holdings by 62.71 million to 88.88 million shares.
With over 38.18 million Kenvue Inc (KVUE) shares trading Friday and a closing price of $20.99 on the day, the dollar volume was approximately $801.37 million. The shares have shown a negative half year performance of -20.04% and its price on 12/15/23 lost nearly -0.33%. Currently, there are 1.89B common shares owned by the public and among those 1.73B shares have been available to trade.
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Insiders at the company have transacted a total of 8 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 7 of these insider trades were purchases, accounting for 40,607 shares. Insider sales of the common stock occurred on 1 occasions, with total insider shares sold totaling 1,533,830,450 shares.
The top 3 mutual fund holders in Kenvue Inc are Vanguard Total Stock Market ETF, Vanguard 500 Index Fund, and MFS Value Fund. Vanguard Total Stock Market ETF owns 53.87 million shares of the company’s stock, all valued at over $1.1 billion. The company bought an additional 0.25 million shares recently to bring their total holdings to about 2.81% of the shares outstanding. Vanguard 500 Index Fund bought 0.21 million shares to see its total holdings expand to 41.63 million shares valued at over $850.84 million and representing 2.17% of the shares outstanding. MFS Value Fund now owns shares totaling to 1.38% of the shares outstanding.
Shares of Kenvue Inc (NYSE: KVUE) opened at $20.87, down -$0.19 from a prior closing price of $21.06. However, the script later moved the day high at 21.06, down -0.33%. The company’s stock has a 5-day price change of 1.84% and -0.43% over the past three months. It has a 12-month low price of $17.82 and touched a high of $27.80 over the same period. KVUE has an average intraday trading volume of 22.74 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 3.45%, 6.22%, and -7.73% respectively.
Institutional ownership of Kenvue Inc (NYSE: KVUE) shares accounts for 86.95% of the company’s 1.89B shares outstanding. Mutual fund holders own 44.35%, while other institutional holders and individual stakeholders account for 9.52% and 43.36% respectively.
It has a market capitalization of $40.19B. The stock’s trailing 12-month PE ratio is 25.48, while the earnings-per-share (ttm) stands at $0.82. The company has a PEG of 17.21 and a Quick Ratio of 0.78 with the debt-to-equity ratio at 0.77. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.14% over the week and 2.37% over the month.
Analysts forecast that Kenvue Inc (KVUE) will achieve an EPS of $0.28 for the current quarter, $0.29 for the next quarter and $1.27 for 2024. The lowest estimate earnings-per-share for the quarter is $0.27 while analysts give the company a high EPS estimate of $0.3. Earnings per share for the fiscal year are expected to decrease by -8.56%, and 0.47% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 16 brokerage firm advisors rate Kenvue Inc (KVUE) as a “Moderate Buy” at a consensus score of 2.00. Specifically, 7 Wall Street analysts polled rate the stock as a buy, while 7 of the 16 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the KVUE, a number of firms have released research notes about the stock. Piper Sandler stated their Neutral rating for the stock in a research note on November 17, 2023, with the firm’s price target at $20.
