Park Place Capital Corp Decreases Stake in Kenvue Inc. (NYSE:KVUE)

Park Place Capital Corp decreased its stake in shares of Kenvue Inc. (NYSE:KVUE) by 25.5% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 12,413 shares of the company’s stock after selling 4,243 shares during the period. Park Place Capital Corp’s holdings in Kenvue were worth $226,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Beaumont Financial Advisors LLC increased its stake in shares of Kenvue by 3.0% in the fourth quarter. Beaumont Financial Advisors LLC now owns 17,532 shares of the company’s stock valued at $377,000 after purchasing an additional 509 shares during the period. Pinnacle Bancorp Inc. lifted its position in Kenvue by 51.3% in the 4th quarter. Pinnacle Bancorp Inc. now owns 1,552 shares of the company’s stock worth $33,000 after buying an additional 526 shares in the last quarter. Manchester Capital Management LLC lifted its position in Kenvue by 80.8% in the 1st quarter. Manchester Capital Management LLC now owns 1,186 shares of the company’s stock worth $25,000 after buying an additional 530 shares in the last quarter. Tradition Wealth Management LLC raised its holdings in shares of Kenvue by 2.8% during the 4th quarter. Tradition Wealth Management LLC now owns 21,278 shares of the company’s stock valued at $458,000 after purchasing an additional 575 shares in the last quarter. Finally, MV Capital Management Inc. raised its holdings in shares of Kenvue by 71.2% during the 1st quarter. MV Capital Management Inc. now owns 1,544 shares of the company’s stock valued at $33,000 after purchasing an additional 642 shares in the last quarter. Institutional investors own 97.64% of the company’s stock.

Kenvue Price Performance

Kenvue stock traded down $0.57 during trading hours on Monday, reaching $18.25. 8,588,693 shares of the stock were exchanged, compared to its average volume of 18,988,533. The company has a market cap of $34.95 billion, a P/E ratio of 24.13, a price-to-earnings-growth ratio of 2.07 and a beta of 1.38. The company has a current ratio of 0.99, a quick ratio of 0.68 and a debt-to-equity ratio of 0.66. Kenvue Inc. has a twelve month low of $17.67 and a twelve month high of $24.10. The stock has a 50 day moving average of $18.49 and a two-hundred day moving average of $19.43.

Kenvue (NYSE:KVUE) last posted its quarterly earnings results on Tuesday, May 7th. The company reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.03. Kenvue had a net margin of 9.63% and a return on equity of 21.06%. The company had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $3.79 billion. Kenvue’s revenue was down 24.9% on a year-over-year basis. Equities analysts expect that Kenvue Inc. will post 1.13 EPS for the current fiscal year.

Kenvue Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 28th. Stockholders of record on Wednesday, August 14th will be paid a $0.205 dividend. This is an increase from Kenvue’s previous quarterly dividend of $0.20. This represents a $0.82 dividend on an annualized basis and a dividend yield of 4.49%. The ex-dividend date is Wednesday, August 14th. Kenvue’s dividend payout ratio (DPR) is presently 102.56%.

Analysts Set New Price Targets

Several research analysts recently commented on KVUE shares. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Kenvue from $24.00 to $23.00 and set a “buy” rating on the stock in a report on Thursday, July 25th. Citigroup dropped their price target on shares of Kenvue from $21.00 to $20.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. Sanford C. Bernstein initiated coverage on shares of Kenvue in a report on Thursday, April 11th. They issued an “underperform” rating and a $18.00 price target for the company. HSBC increased their target price on shares of Kenvue from $20.00 to $21.00 and gave the stock a “hold” rating in a report on Wednesday, May 8th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Kenvue from $23.00 to $22.00 and set an “overweight” rating on the stock in a research report on Monday, July 22nd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $22.45.

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.