Novare Capital Management LLC Buys 28,616 Shares of Kenvue Inc. (NYSE:KVUE)

Novare Capital Management LLC increased its stake in shares of Kenvue Inc. (NYSE:KVUE) by 6.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 491,970 shares of the company’s stock after purchasing an additional 28,616 shares during the quarter. Novare Capital Management LLC’s holdings in Kenvue were worth $10,504,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Huntington National Bank grew its holdings in shares of Kenvue by 26.5% during the third quarter. Huntington National Bank now owns 4,161 shares of the company’s stock worth $96,000 after purchasing an additional 871 shares during the last quarter. ING Groep NV grew its holdings in Kenvue by 23.6% during the 3rd quarter. ING Groep NV now owns 3,576,616 shares of the company’s stock worth $82,727,000 after acquiring an additional 681,954 shares during the last quarter. Everence Capital Management Inc. increased its position in Kenvue by 122.1% in the 4th quarter. Everence Capital Management Inc. now owns 45,380 shares of the company’s stock valued at $969,000 after acquiring an additional 24,950 shares during the period. Saturna Capital Corp increased its position in Kenvue by 29.9% in the 3rd quarter. Saturna Capital Corp now owns 1,334,860 shares of the company’s stock valued at $30,875,000 after acquiring an additional 307,039 shares during the period. Finally, Tyler Stone Wealth Management raised its stake in shares of Kenvue by 134.4% during the third quarter. Tyler Stone Wealth Management now owns 49,050 shares of the company’s stock valued at $1,135,000 after acquiring an additional 28,125 shares during the last quarter. Institutional investors own 97.64% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on KVUE. Piper Sandler upgraded Kenvue from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $21.00 to $26.00 in a report on Monday, January 6th. Barclays decreased their price target on Kenvue from $23.00 to $21.00 and set an “equal weight” rating for the company in a research note on Friday, January 17th. Citigroup reduced their target price on Kenvue from $25.00 to $21.00 and set a “neutral” rating on the stock in a report on Wednesday, January 15th. UBS Group lowered their price target on shares of Kenvue from $24.00 to $23.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Kenvue from a “buy” rating to a “hold” rating and reduced their price objective for the company from $25.00 to $24.00 in a research note on Thursday, December 12th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Kenvue presently has an average rating of “Hold” and a consensus price target of $23.08.

Kenvue Stock Up 0.2 %

Shares of NYSE KVUE opened at $20.79 on Friday. The company has a quick ratio of 0.69, a current ratio of 1.00 and a debt-to-equity ratio of 0.66. The firm has a market cap of $39.85 billion, a PE ratio of 37.79, a P/E/G ratio of 1.99 and a beta of 1.46. The company’s fifty day simple moving average is $22.14 and its 200 day simple moving average is $21.78. Kenvue Inc. has a 12-month low of $17.67 and a 12-month high of $24.46.

Kenvue (NYSE:KVUE) last released its quarterly earnings data on Thursday, November 7th. The company reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.01. Kenvue had a net margin of 6.88% and a return on equity of 21.43%. The company had revenue of $3.90 billion for the quarter, compared to analysts’ expectations of $3.92 billion. During the same quarter in the prior year, the firm earned $0.31 EPS. The business’s revenue was down .4% on a year-over-year basis. As a group, sell-side analysts forecast that Kenvue Inc. will post 1.14 earnings per share for the current fiscal year.

Kenvue Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th will be paid a $0.205 dividend. The ex-dividend date of this dividend is Wednesday, February 12th. This represents a $0.82 dividend on an annualized basis and a yield of 3.95%. Kenvue’s dividend payout ratio (DPR) is presently 149.09%.

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.