Kenvue Inc. (NYSE:KVUE) Shares Acquired by Allen Wealth Management LLC

Allen Wealth Management LLC boosted its holdings in Kenvue Inc. (NYSE:KVUE) by 14.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 76,558 shares of the company’s stock after acquiring an additional 9,618 shares during the period. Kenvue accounts for about 1.2% of Allen Wealth Management LLC’s portfolio, making the stock its 20th largest holding. Allen Wealth Management LLC’s holdings in Kenvue were worth $1,771,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. New York State Common Retirement Fund raised its holdings in Kenvue by 57.4% in the 3rd quarter. New York State Common Retirement Fund now owns 2,226,323 shares of the company’s stock valued at $51,495,000 after buying an additional 811,783 shares during the period. Stephens Inc. AR raised its stake in shares of Kenvue by 12.2% in the 3rd quarter. Stephens Inc. AR now owns 187,949 shares of the company’s stock valued at $4,347,000 after acquiring an additional 20,506 shares during the period. Norris Perne & French LLP MI raised its stake in shares of Kenvue by 28.0% in the 3rd quarter. Norris Perne & French LLP MI now owns 709,359 shares of the company’s stock valued at $16,407,000 after acquiring an additional 155,350 shares during the period. US Bancorp DE lifted its holdings in shares of Kenvue by 21.0% in the 3rd quarter. US Bancorp DE now owns 165,454 shares of the company’s stock worth $3,827,000 after acquiring an additional 28,706 shares during the last quarter. Finally, Financial Advocates Investment Management boosted its position in shares of Kenvue by 11.7% during the 3rd quarter. Financial Advocates Investment Management now owns 12,361 shares of the company’s stock worth $286,000 after purchasing an additional 1,298 shares during the period. 97.64% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have issued reports on KVUE shares. Deutsche Bank Aktiengesellschaft boosted their target price on Kenvue from $23.00 to $24.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. JPMorgan Chase & Co. boosted their price objective on Kenvue from $24.00 to $25.00 and gave the company an “overweight” rating in a report on Friday, October 11th. Royal Bank of Canada cut Kenvue from an “outperform” rating to a “sector perform” rating and set a $24.00 target price for the company. in a report on Tuesday, September 24th. UBS Group lifted their target price on Kenvue from $20.00 to $22.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Finally, Citigroup reduced their price target on shares of Kenvue from $21.00 to $20.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $22.64.

Kenvue Stock Down 0.9 %

KVUE stock opened at $22.73 on Friday. Kenvue Inc. has a fifty-two week low of $17.67 and a fifty-two week high of $23.55. The company’s 50 day moving average price is $22.53 and its 200 day moving average price is $20.41. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.68 and a current ratio of 0.99. The firm has a market capitalization of $43.53 billion, a price-to-earnings ratio of 39.19, a PEG ratio of 3.00 and a beta of 1.35.

Kenvue (NYSE:KVUE) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.04. The company had revenue of $4 billion for 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 quarterly revenue was down .3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.32 EPS. On average, equities research analysts anticipate that Kenvue Inc. will post 1.08 EPS for the current fiscal 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 issued a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a yield of 3.61%. The ex-dividend date is Wednesday, November 13th. Kenvue’s dividend payout ratio (DPR) is 141.38%.

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.