Hennessy Advisors Inc. Makes New Investment in Kenvue Inc. (NYSE:KVUE)

Hennessy Advisors Inc. purchased a new stake in shares of Kenvue Inc. (NYSE:KVUE) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 238,100 shares of the company’s stock, valued at approximately $5,110,000.

Several other hedge funds have also modified their holdings of KVUE. Vanguard Group Inc. bought a new position in Kenvue in the third quarter valued at approximately $2,944,816,000. Wellington Management Group LLP boosted its stake in Kenvue by 576.1% in the third quarter. Wellington Management Group LLP now owns 71,686,830 shares of the company’s stock valued at $1,439,472,000 after acquiring an additional 61,084,123 shares during the last quarter. Morgan Stanley boosted its stake in Kenvue by 4,057.4% in the third quarter. Morgan Stanley now owns 31,162,614 shares of the company’s stock valued at $625,745,000 after acquiring an additional 30,413,040 shares during the last quarter. Laurion Capital Management LP boosted its stake in Kenvue by 4,473.9% in the third quarter. Laurion Capital Management LP now owns 18,801,154 shares of the company’s stock valued at $377,527,000 after acquiring an additional 18,390,102 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in Kenvue by 19.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 109,327,221 shares of the company’s stock valued at $2,353,816,000 after acquiring an additional 18,118,056 shares during the last quarter. 97.64% of the stock is owned by institutional investors.

Kenvue Stock Performance

NYSE:KVUE traded down $0.17 during mid-day trading on Thursday, hitting $18.42. 18,526,877 shares of the stock were exchanged, compared to its average volume of 19,298,117. The firm’s 50-day simple moving average is $19.22 and its 200 day simple moving average is $20.00. The stock has a market capitalization of $35.27 billion and a price-to-earnings ratio of 23.62. Kenvue Inc. has a fifty-two week low of $17.75 and a fifty-two week high of $26.66. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.68 and a current ratio of 0.99.

Kenvue (NYSE:KVUE) last released its quarterly earnings results on Tuesday, May 7th. The company reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.03. The business had revenue of $2.89 billion for the quarter, compared to analyst estimates of $3.79 billion. Kenvue had a net margin of 9.63% and a return on equity of 21.06%. Kenvue’s quarterly revenue was down 24.9% on a year-over-year basis. As a group, equities analysts anticipate that Kenvue Inc. will post 1.17 EPS for the current fiscal year.

Kenvue Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 22nd. Investors of record on Wednesday, May 8th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.34%. The ex-dividend date of this dividend was Tuesday, May 7th. Kenvue’s payout ratio is currently 102.56%.

Wall Street Analyst Weigh In

KVUE has been the topic of several analyst reports. Sanford C. Bernstein initiated coverage on shares of Kenvue in a report on Thursday, April 11th. They issued an “underperform” rating and a $18.00 target price on the stock. 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 target price on the stock. William Blair started coverage on shares of Kenvue in a report on Wednesday, April 3rd. They issued a “market perform” rating on the stock. Citigroup restated a “neutral” rating and set a $21.00 price objective on shares of Kenvue in a report on Tuesday, May 28th. Finally, HSBC upped 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. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $23.09.

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.