Wade G W & Inc. Increases Stock Position in Kenvue Inc. (NYSE:KVUE)

Wade G W & Inc. raised its position in Kenvue Inc. (NYSE:KVUE) by 3.3% in the fourth quarter, Holdings Channel reports. The institutional investor owned 65,266 shares of the company’s stock after purchasing an additional 2,078 shares during the period. Wade G W & Inc.’s holdings in Kenvue were worth $1,405,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Park Avenue Securities LLC purchased a new position in shares of Kenvue during the 3rd quarter valued at approximately $308,000. Assetmark Inc. acquired a new stake in shares of Kenvue in the third quarter valued at about $33,000. Perigon Wealth Management LLC purchased a new stake in shares of Kenvue during the third quarter worth about $217,000. Fifth Third Bancorp acquired a new position in shares of Kenvue during the 3rd quarter worth about $4,119,000. Finally, Panagora Asset Management Inc. purchased a new stake in Kenvue during the 3rd quarter worth approximately $16,787,000. Institutional investors and hedge funds own 97.64% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on KVUE. William Blair assumed coverage on Kenvue in a research note on Wednesday, April 3rd. They issued a “market perform” rating on the stock. HSBC raised their target price on shares of Kenvue from $20.00 to $21.00 and gave the stock a “hold” rating in a research note on Wednesday, May 8th. JPMorgan Chase & Co. cut their price target on Kenvue from $25.00 to $24.00 and set an “overweight” rating for the company in a report on Friday, February 9th. Royal Bank of Canada reduced 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. Finally, The Goldman Sachs Group initiated coverage on shares of Kenvue in a report on Friday, March 1st. They issued a “neutral” rating and a $20.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $24.38.

Kenvue Trading Up 1.4 %

Shares of KVUE stock traded up $0.29 on Thursday, hitting $20.83. The stock had a trading volume of 22,028,726 shares, compared to its average volume of 18,043,832. The company’s 50 day moving average price is $20.02 and its 200-day moving average price is $20.16. Kenvue Inc. has a 1 year low of $17.82 and a 1 year high of $27.70. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.99 and a quick ratio of 0.68. The firm has a market capitalization of $39.89 billion and a P/E ratio of 26.33.

Kenvue (NYSE:KVUE) last issued its quarterly earnings results on Tuesday, May 7th. The company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.03. The business had revenue of $2.89 billion for the quarter, compared to analysts’ expectations of $3.79 billion. Kenvue had a net margin of 9.63% and a return on equity of 21.06%. The company’s quarterly revenue was down 24.9% compared to the same quarter last year. Analysts anticipate that Kenvue Inc. will post 1.18 earnings per share for the current year.

Kenvue Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Wednesday, May 8th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 3.84%. The ex-dividend date is Tuesday, May 7th. Kenvue’s payout ratio is currently 102.56%.

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.