Kenvue Inc. (NYSE:KVUE) Shares Purchased by Cornerstone Wealth Group LLC

Cornerstone Wealth Group LLC grew its position in shares of Kenvue Inc. (NYSE:KVUE) by 176.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 350,371 shares of the company’s stock after purchasing an additional 223,537 shares during the quarter. Cornerstone Wealth Group LLC’s holdings in Kenvue were worth $7,519,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. Planned Solutions Inc. acquired a new position in shares of Kenvue in the 4th quarter worth $27,000. Pacific Capital Wealth Advisors Inc. acquired a new position in shares of Kenvue in the 4th quarter worth $28,000. Mather Group LLC. acquired a new position in shares of Kenvue in the 1st quarter worth $28,000. CVA Family Office LLC acquired a new position in shares of Kenvue in the 4th quarter worth $32,000. Finally, Pinnacle Bancorp Inc. grew its holdings in shares of Kenvue by 51.3% in the 4th quarter. Pinnacle Bancorp Inc. now owns 1,552 shares of the company’s stock worth $33,000 after acquiring an additional 526 shares during the last quarter. 97.64% of the stock is currently owned by institutional investors and hedge funds.

Kenvue Stock Down 1.3 %

NYSE KVUE traded down $0.24 during trading on Friday, hitting $18.18. 57,323,267 shares of the company traded hands, compared to its average volume of 21,130,516. Kenvue Inc. has a 12 month low of $17.75 and a 12 month high of $26.66. The business has a fifty day simple moving average of $19.19 and a 200 day simple moving average of $19.98. The company has a current ratio of 0.99, a quick ratio of 0.68 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $34.81 billion and a P/E ratio of 23.31.

Kenvue (NYSE:KVUE) last posted its earnings results on Tuesday, May 7th. The company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.03. The company 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%. Kenvue’s revenue for the quarter was down 24.9% on a year-over-year basis. As a group, sell-side analysts predict that Kenvue Inc. will post 1.17 EPS for the current year.

Kenvue Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 22nd. Stockholders of record on Wednesday, May 8th were paid a $0.20 dividend. The ex-dividend date was Tuesday, May 7th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.40%. Kenvue’s payout ratio is presently 102.56%.

Analyst Ratings Changes

A number of brokerages recently issued reports on KVUE. HSBC lifted their target price on Kenvue from $20.00 to $21.00 and gave the stock a “hold” rating in a report on Wednesday, May 8th. William Blair started coverage on Kenvue in a research report on Wednesday, April 3rd. They issued a “market perform” rating for the company. Sanford C. Bernstein started coverage on Kenvue in a research report on Thursday, April 11th. They issued an “underperform” rating and a $18.00 target price for the company. Finally, Citigroup reaffirmed a “neutral” rating and issued a $21.00 target price on shares of Kenvue in a research report on Tuesday, May 28th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $23.09.

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.