Perpetual Ltd Buys 652 Shares of Kenvue Inc. (NYSE:KVUE)

Perpetual Ltd lifted its stake in shares of Kenvue Inc. (NYSE:KVUE) by 2.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 25,380 shares of the company’s stock after purchasing an additional 652 shares during the quarter. Perpetual Ltd’s holdings in Kenvue were worth $587,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Manchester Capital Management LLC grew its holdings in shares of Kenvue by 80.8% during the 1st quarter. Manchester Capital Management LLC now owns 1,186 shares of the company’s stock valued at $25,000 after purchasing an additional 530 shares during the last quarter. Mather Group LLC. bought a new stake in Kenvue during the 1st quarter worth approximately $28,000. Riverview Trust Co bought a new stake in Kenvue during the 1st quarter worth approximately $33,000. MV Capital Management Inc. grew its holdings in Kenvue by 71.2% during the 1st quarter. MV Capital Management Inc. now owns 1,544 shares of the company’s stock worth $33,000 after acquiring an additional 642 shares during the last quarter. Finally, Salomon & Ludwin LLC bought a new stake in Kenvue during the 1st quarter worth approximately $33,000. 97.64% of the stock is owned by institutional investors.

Kenvue Stock Up 0.7 %

Kenvue stock opened at $21.46 on Friday. The company has a quick ratio of 0.68, a current ratio of 0.99 and a debt-to-equity ratio of 0.69. Kenvue Inc. has a 12-month low of $17.67 and a 12-month high of $23.55. The firm’s fifty day moving average is $22.08 and its 200 day moving average is $20.19. The company has a market capitalization of $41.10 billion, a PE ratio of 37.00, a PEG ratio of 2.76 and a beta of 1.40.

Kenvue (NYSE:KVUE) last released its earnings results on Tuesday, August 6th. The company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.04. Kenvue had a net margin of 7.23% and a return on equity of 21.80%. The company had revenue of $4 billion for the quarter, compared to the consensus estimate of $3.93 billion. During the same quarter in the previous year, the company earned $0.32 EPS. Kenvue’s quarterly revenue was down .3% compared to the same quarter last year. As a group, sell-side analysts predict that Kenvue Inc. will post 1.08 EPS for the current fiscal year.

Kenvue Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 28th. Investors of record on Wednesday, August 14th were given a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a dividend yield of 3.82%. The ex-dividend date of this dividend was Wednesday, August 14th. This is an increase from Kenvue’s previous quarterly dividend of $0.20. Kenvue’s payout ratio is presently 141.38%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. UBS Group boosted their target price on shares of Kenvue from $20.00 to $22.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Kenvue from $23.00 to $24.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. Piper Sandler boosted their target price on shares of Kenvue from $20.00 to $21.00 and gave the stock a “neutral” rating in a report on Monday, September 23rd. JPMorgan Chase & Co. upped their price objective on shares of Kenvue from $24.00 to $25.00 and gave the company an “overweight” rating in a research note on Friday. Finally, Citigroup reduced their price objective on shares of Kenvue from $21.00 to $20.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $22.20.

About Kenvue

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.