Davis Capital Management Boosts Stock Position in Kenvue Inc. (NYSE:KVUE)

Davis Capital Management grew its stake in Kenvue Inc. (NYSE:KVUE) by 39.2% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 32,747 shares of the company’s stock after purchasing an additional 9,216 shares during the period. Davis Capital Management’s holdings in Kenvue were worth $588,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in the stock. Manchester Capital Management LLC lifted its holdings in Kenvue by 80.8% in the first quarter. Manchester Capital Management LLC now owns 1,186 shares of the company’s stock valued at $25,000 after acquiring an additional 530 shares during the last quarter. Pacific Capital Wealth Advisors Inc. acquired a new position in Kenvue in the fourth quarter valued at approximately $28,000. Mather Group LLC. acquired a new position in Kenvue in the first quarter valued at approximately $28,000. Oakworth Capital Inc. acquired a new position in Kenvue in the first quarter valued at approximately $31,000. Finally, Pinnacle Bancorp Inc. lifted its holdings in Kenvue by 51.3% in the fourth quarter. Pinnacle Bancorp Inc. now owns 1,552 shares of the company’s stock valued at $33,000 after acquiring an additional 526 shares during the last quarter. 97.64% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Sanford C. Bernstein assumed coverage on Kenvue in a report on Thursday, April 11th. They issued an “underperform” rating and a $18.00 price objective on the stock. JPMorgan Chase & Co. decreased their price target on Kenvue from $23.00 to $22.00 and set an “overweight” rating on the stock in a research note on Monday, July 22nd. HSBC upped their price target on Kenvue from $20.00 to $21.00 and gave the stock a “hold” rating in a research note on Wednesday, May 8th. Citigroup decreased their price target on Kenvue from $21.00 to $20.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on Kenvue from $24.00 to $23.00 and set a “buy” rating on the stock in a research note on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $22.45.

Kenvue Stock Up 1.0 %

Shares of NYSE KVUE traded up $0.19 during mid-day trading on Friday, hitting $18.82. The company had a trading volume of 17,688,715 shares, compared to its average volume of 16,514,614. The company has a market capitalization of $36.04 billion, a PE ratio of 24.13, a price-to-earnings-growth ratio of 2.07 and a beta of 1.38. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.99 and a quick ratio of 0.68. Kenvue Inc. has a 1-year low of $17.67 and a 1-year high of $24.43. The business’s 50-day simple moving average is $18.49 and its 200 day simple moving average is $19.43.

Kenvue (NYSE:KVUE) last posted its earnings results on Tuesday, May 7th. The company reported $0.28 EPS for the quarter, beating the consensus estimate of $0.25 by $0.03. The firm had revenue of $2.89 billion for the quarter, compared to analyst estimates of $3.79 billion. Kenvue had a return on equity of 21.06% and a net margin of 9.63%. The company’s revenue for the quarter was down 24.9% compared to the same quarter last year. On average, analysts predict that Kenvue Inc. will post 1.13 earnings per share for the current year.

Kenvue Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 28th. Investors of record on Wednesday, August 14th will be issued a $0.205 dividend. This represents a $0.82 annualized dividend and a yield of 4.36%. The ex-dividend date of this dividend is Wednesday, August 14th. This is a positive change from Kenvue’s previous quarterly dividend of $0.20. Kenvue’s dividend payout ratio is 102.56%.

Kenvue 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.