Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Increases Stock Holdings in Kenvue Inc. (NYSE:KVUE)

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its holdings in shares of Kenvue Inc. (NYSE:KVUE) by 28.2% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,303 shares of the company’s stock after purchasing an additional 946 shares during the quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in Kenvue were worth $99,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of KVUE. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in Kenvue by 0.5% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,864,575 shares of the company’s stock worth $82,934,000 after purchasing an additional 20,943 shares during the last quarter. Norden Group LLC purchased a new stake in Kenvue during the 1st quarter worth approximately $1,792,000. First Trust Direct Indexing L.P. increased its holdings in Kenvue by 29.2% during the 1st quarter. First Trust Direct Indexing L.P. now owns 24,463 shares of the company’s stock worth $525,000 after purchasing an additional 5,524 shares during the last quarter. Everett Harris & Co. CA increased its holdings in Kenvue by 7.1% during the 1st quarter. Everett Harris & Co. CA now owns 21,243 shares of the company’s stock worth $456,000 after purchasing an additional 1,400 shares during the last quarter. Finally, SpiderRock Advisors LLC purchased a new stake in Kenvue during the 1st quarter worth approximately $334,000. 97.64% of the stock is currently owned by hedge funds and other institutional investors.

Kenvue Trading Up 0.5 %

NYSE:KVUE opened at $22.90 on Thursday. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.99 and a quick ratio of 0.68. Kenvue Inc. has a 12-month low of $17.67 and a 12-month high of $23.55. The business has a 50 day simple moving average of $22.48 and a 200 day simple moving average of $20.36. The firm has a market capitalization of $43.85 billion, a P/E ratio of 29.36, a P/E/G ratio of 3.00 and a beta of 1.40.

Kenvue (NYSE:KVUE) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.04. Kenvue had a return on equity of 21.80% and a net margin of 7.23%. The company 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 firm posted $0.32 EPS. The firm’s quarterly revenue was down .3% on a year-over-year basis. Equities research analysts predict that Kenvue Inc. will post 1.08 EPS for the current year.

Kenvue Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th will be given a dividend of $0.205 per share. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $0.82 dividend on an annualized basis and a yield of 3.58%. Kenvue’s dividend payout ratio (DPR) is presently 105.13%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on KVUE shares. Deutsche Bank Aktiengesellschaft lifted their target price on Kenvue from $23.00 to $24.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. UBS Group lifted their target price on Kenvue from $20.00 to $22.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Citigroup decreased their target price on Kenvue from $21.00 to $20.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. Piper Sandler lifted their target price on Kenvue from $20.00 to $21.00 and gave the stock a “neutral” rating in a research report on Monday, September 23rd. Finally, Jefferies Financial Group started coverage on Kenvue in a research report on Tuesday, September 24th. They issued a “buy” rating and a $27.00 target price for the company. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $22.64.

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.