Kenvue Inc. (NYSE:KVUE) Shares Bought by Kennon Green & Company LLC

Kennon Green & Company LLC grew its holdings in Kenvue Inc. (NYSE:KVUE) by 140.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 159,106 shares of the company’s stock after purchasing an additional 93,008 shares during the period. Kenvue makes up 2.7% of Kennon Green & Company LLC’s investment portfolio, making the stock its 14th largest position. Kennon Green & Company LLC’s holdings in Kenvue were worth $2,893,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Principal Securities Inc. acquired a new stake in Kenvue in the 4th quarter valued at approximately $112,000. NorthRock Partners LLC raised its holdings in shares of Kenvue by 5.4% in the 4th quarter. NorthRock Partners LLC now owns 19,754 shares of the company’s stock valued at $425,000 after buying an additional 1,009 shares during the period. Financial Advocates Investment Management acquired a new position in Kenvue during the 4th quarter worth about $207,000. Independent Advisor Alliance purchased a new position in Kenvue during the 4th quarter valued at about $644,000. Finally, Brown Advisory Inc. grew its position in Kenvue by 11.8% in the 4th quarter. Brown Advisory Inc. now owns 1,451,794 shares of the company’s stock valued at $31,257,000 after acquiring an additional 153,590 shares in the last quarter. 97.64% of the stock is currently owned by hedge funds and other institutional investors.

Kenvue Price Performance

KVUE stock opened at $23.39 on Friday. The stock has a market cap of $44.80 billion, a price-to-earnings ratio of 29.99, a PEG ratio of 2.92 and a beta of 1.40. Kenvue Inc. has a fifty-two week low of $17.67 and a fifty-two week high of $23.47. The company has a quick ratio of 0.68, a current ratio of 0.99 and a debt-to-equity ratio of 0.69. The business has a 50 day moving average price of $20.41 and a 200 day moving average price of $19.82.

Kenvue (NYSE:KVUE) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.04. The business had revenue of $4 billion during the quarter, compared to the consensus estimate of $3.93 billion. Kenvue had a net margin of 7.23% and a return on equity of 21.80%. The company’s revenue was down .3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.32 EPS. Equities research analysts anticipate that Kenvue Inc. will post 1.08 earnings per share for the current fiscal year.

Kenvue Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 28th. Shareholders of record on Wednesday, August 14th were paid a $0.205 dividend. This represents a $0.82 annualized dividend and a yield of 3.51%. The ex-dividend date was Wednesday, August 14th. This is an increase from Kenvue’s previous quarterly dividend of $0.20. Kenvue’s dividend payout ratio is currently 105.13%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. Citigroup lowered their price objective on shares of Kenvue from $21.00 to $20.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. UBS Group raised their price target on shares of Kenvue from $20.00 to $22.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. JPMorgan Chase & Co. upped their price objective on Kenvue from $22.00 to $24.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft lifted their target price on Kenvue from $23.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $24.00 price target on shares of Kenvue in a report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Kenvue has an average rating of “Hold” and an average target price of $21.44.

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.