Kenvue Inc. (NYSE:KVUE) Stock Position Increased by Sound Income Strategies LLC

Sound Income Strategies LLC raised its stake in shares of Kenvue Inc. (NYSE:KVUE) by 41.8% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 629,072 shares of the company’s stock after buying an additional 185,351 shares during the period. Sound Income Strategies LLC’s holdings in Kenvue were worth $14,550,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Cornerstone Wealth Group LLC increased its position in shares of Kenvue by 176.2% in the first quarter. Cornerstone Wealth Group LLC now owns 350,371 shares of the company’s stock worth $7,519,000 after acquiring an additional 223,537 shares in the last quarter. NBC Securities Inc. boosted its stake in shares of Kenvue by 8.4% in the 1st quarter. NBC Securities Inc. now owns 11,301 shares of the company’s stock valued at $242,000 after purchasing an additional 879 shares in the last quarter. Janney Montgomery Scott LLC lifted its position in Kenvue by 56.2% during the 1st quarter. Janney Montgomery Scott LLC now owns 1,840,875 shares of the company’s stock worth $39,505,000 after buying an additional 662,666 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new position in Kenvue during the 1st quarter valued at about $1,050,000. Finally, Norden Group LLC acquired a new position in Kenvue during the 1st quarter valued at about $1,792,000. Institutional investors and hedge funds own 97.64% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Piper Sandler increased their target price on Kenvue from $20.00 to $21.00 and gave the stock a “neutral” rating in a research note on Monday, September 23rd. Citigroup cut their price target on Kenvue from $21.00 to $20.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. Royal Bank of Canada downgraded Kenvue from an “outperform” rating to a “sector perform” rating and set a $24.00 price target for the company. in a report on Tuesday, September 24th. UBS Group increased their price objective on Kenvue from $20.00 to $22.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. raised their price target on Kenvue from $24.00 to $25.00 and gave the stock an “overweight” rating in a research report on Friday. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Kenvue presently has an average rating of “Hold” and an average price target of $22.20.

Kenvue Stock Up 0.7 %

NYSE KVUE traded up $0.14 during midday trading on Friday, hitting $21.46. 14,513,039 shares of the company traded hands, compared to its average volume of 18,237,896. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.99 and a quick ratio of 0.68. The company has a market cap of $41.09 billion, a PE ratio of 27.51, a price-to-earnings-growth ratio of 2.76 and a beta of 1.40. Kenvue Inc. has a 52 week low of $17.67 and a 52 week high of $23.55. The company’s 50-day simple moving average is $22.13 and its 200-day simple moving average is $20.19.

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

Kenvue Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 28th. Stockholders of record on Wednesday, August 14th were given a dividend of $0.205 per share. The ex-dividend date was Wednesday, August 14th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 3.82%. This is a positive change from Kenvue’s previous quarterly dividend of $0.20. Kenvue’s dividend payout ratio is currently 105.13%.

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.