NewEdge Advisors LLC Raises Position in Kenvue Inc. (NYSE:KVUE)

NewEdge Advisors LLC lifted its stake in Kenvue Inc. (NYSE:KVUE) by 14.1% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 37,489 shares of the company’s stock after purchasing an additional 4,637 shares during the quarter. NewEdge Advisors LLC’s holdings in Kenvue were worth $800,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. Grove Bank & Trust raised its stake in shares of Kenvue by 438.4% in the fourth quarter. Grove Bank & Trust now owns 1,163 shares of the company’s stock valued at $25,000 after acquiring an additional 947 shares during the period. Geneos Wealth Management Inc. purchased a new stake in Kenvue in the 4th quarter worth about $29,000. SRS Capital Advisors Inc. lifted its stake in Kenvue by 67.4% in the fourth quarter. SRS Capital Advisors Inc. now owns 1,418 shares of the company’s stock worth $30,000 after purchasing an additional 571 shares during the last quarter. Fortitude Family Office LLC boosted its position in shares of Kenvue by 106.6% during the fourth quarter. Fortitude Family Office LLC now owns 1,506 shares of the company’s stock valued at $32,000 after buying an additional 777 shares during the period. Finally, Versant Capital Management Inc grew its stake in shares of Kenvue by 300.8% during the fourth quarter. Versant Capital Management Inc now owns 1,920 shares of the company’s stock valued at $41,000 after buying an additional 1,441 shares during the last quarter. Institutional investors own 97.64% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Redburn Atlantic initiated coverage on Kenvue in a research report on Thursday, April 10th. They issued a “neutral” rating and a $23.50 price objective on the stock. Citigroup raised their price target on shares of Kenvue from $21.00 to $22.00 and gave the stock a “neutral” rating in a research note on Monday, April 14th. Evercore ISI began coverage on shares of Kenvue in a report on Monday, March 24th. They set an “in-line” rating and a $25.00 price objective for the company. Canaccord Genuity Group upped their target price on shares of Kenvue from $24.00 to $29.00 and gave the stock a “buy” rating in a research note on Wednesday, March 5th. Finally, Piper Sandler lifted their price target on shares of Kenvue from $24.00 to $27.00 and gave the company an “overweight” rating in a research note on Monday, February 24th. Eight investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Kenvue currently has a consensus rating of “Hold” and a consensus price target of $24.42.

Kenvue Trading Up 1.2 %

NYSE:KVUE opened at $23.03 on Friday. The stock has a market capitalization of $44.19 billion, a price-to-earnings ratio of 43.45, a PEG ratio of 2.62 and a beta of 1.02. Kenvue Inc. has a 52 week low of $17.67 and a 52 week high of $24.46. 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 50 day moving average of $23.03 and a 200 day moving average of $22.43.

Kenvue (NYSE:KVUE) last posted its quarterly earnings data on Thursday, February 6th. The company reported $0.26 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.26. Kenvue had a return on equity of 20.97% and a net margin of 6.66%. As a group, sell-side analysts anticipate that Kenvue Inc. will post 1.14 earnings per share for the current fiscal year.

Kenvue Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 28th. Stockholders of record on Wednesday, May 14th will be issued a dividend of $0.205 per share. The ex-dividend date is Wednesday, May 14th. This represents a $0.82 annualized dividend and a dividend yield of 3.56%. Kenvue’s dividend payout ratio (DPR) is currently 154.72%.

Kenvue 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.