12 Best FMCG Stocks To Buy According to Hedge Funds

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7. Kenvue Inc. (NYSE:KVUE)

Number of Hedge Fund Holders: 46

Kenvue Inc. (NYSE:KVUE) is a global consumer health company that offers a wide range of products aimed at improving everyday health and well-being. Its product portfolio ranges from over-the-counter medicines and products like pain relievers, allergy medications, and more. The company also deals in Skin Health and Beauty and Essential Health products operated under popular brands such as Neutrogena, Aveeno, and OGX. The company sells its products in over 165 countries across various continents.

Kenvue Inc. (NYSE:KVUE) continued to benefit from its strategic Our Vue Forward Program, which is aimed at enhancing the company’s efficiency and competitiveness as it transitions into an independent entity after separating from Johnson & Johnson. Piper Sandler, on January 6, upgraded the stock from Neutral to Overweight and raised the price target from $21 to $26. The firm has confidence in the company’s Our Vue Forward program. During the fiscal third quarter of 2024, the company reported a 0.4% decrease in net sales, influenced by a foreign currency headwind. However, the company achieved an organic growth rate of 0.9% and expanded gross profit margins by 100 basis points to 58.5%, driven by supply chain efficiency and pricing strategies. It is one of the best FMCG stocks to buy according to hedge funds.

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