Nuance Investments LLC Acquires 389,624 Shares of Kenvue Inc. (NYSE:KVUE)

Nuance Investments LLC raised its holdings in Kenvue Inc. (NYSE:KVUE) by 50.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,158,564 shares of the company’s stock after buying an additional 389,624 shares during the period. Nuance Investments LLC’s holdings in Kenvue were worth $21,063,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the business. Private Advisor Group LLC boosted its position in shares of Kenvue by 30.1% during the fourth quarter. Private Advisor Group LLC now owns 55,529 shares of the company’s stock valued at $1,196,000 after buying an additional 12,851 shares during the last quarter. Principal Securities Inc. purchased a new position in Kenvue during the 4th quarter worth $112,000. NBC Securities Inc. grew its stake in shares of Kenvue by 113.7% in the 4th quarter. NBC Securities Inc. now owns 10,422 shares of the company’s stock worth $224,000 after acquiring an additional 5,546 shares in the last quarter. Envestnet Portfolio Solutions Inc. raised its holdings in shares of Kenvue by 101.1% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 149,395 shares of the company’s stock valued at $3,216,000 after purchasing an additional 75,096 shares during the last quarter. Finally, Janney Montgomery Scott LLC lifted its position in shares of Kenvue by 12.6% during the fourth quarter. Janney Montgomery Scott LLC now owns 1,178,209 shares of the company’s stock valued at $25,366,000 after purchasing an additional 132,101 shares in the last quarter. 97.64% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

KVUE has been the subject of several analyst reports. UBS Group increased their price objective on shares of Kenvue from $20.00 to $22.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Royal Bank of Canada reiterated an “outperform” rating and issued a $24.00 target price on shares of Kenvue in a research note on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Kenvue from $23.00 to $24.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Citigroup lowered their price target on shares of Kenvue from $21.00 to $20.00 and set a “neutral” rating on the stock in a report on Wednesday, July 10th. Finally, JPMorgan Chase & Co. raised their target price on Kenvue from $22.00 to $24.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Kenvue has an average rating of “Hold” and a consensus target price of $21.44.

Kenvue Stock Down 0.0 %

KVUE stock opened at $23.08 on Friday. Kenvue Inc. has a twelve month low of $17.67 and a twelve month high of $23.47. The company has a quick ratio of 0.68, a current ratio of 0.99 and a debt-to-equity ratio of 0.69. The firm has a market capitalization of $44.20 billion, a PE ratio of 29.59, a PEG ratio of 2.92 and a beta of 1.40. The stock has a 50-day simple moving average of $20.31 and a two-hundred day simple moving average of $19.78.

Kenvue (NYSE:KVUE) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.28 by $0.04. The company had revenue of $4 billion during the quarter, compared to analyst estimates of $3.93 billion. Kenvue had a return on equity of 21.80% and a net margin of 7.23%. Kenvue’s revenue was down .3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.32 earnings per share. On average, equities analysts predict that Kenvue Inc. will post 1.08 EPS for the current fiscal year.

Kenvue Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 28th. Stockholders of record on Wednesday, August 14th were issued a $0.205 dividend. This is a boost from Kenvue’s previous quarterly dividend of $0.20. This represents a $0.82 dividend on an annualized basis and a dividend yield of 3.55%. The ex-dividend date was Wednesday, August 14th. Kenvue’s dividend payout ratio is presently 105.13%.

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.