Kenvue Inc. (NYSE:KVUE) Shares Bought by Kovitz Investment Group Partners LLC

Kovitz Investment Group Partners LLC increased its stake in Kenvue Inc. (NYSE:KVUE) by 27.4% during the 3rd quarter, HoldingsChannel reports. The firm owned 61,804 shares of the company’s stock after acquiring an additional 13,304 shares during the period. Kovitz Investment Group Partners LLC’s holdings in Kenvue were worth $1,430,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Riverview Trust Co acquired a new position in shares of Kenvue during the third quarter valued at $30,000. Ashton Thomas Securities LLC bought a new position in Kenvue in the 3rd quarter worth about $35,000. Studio Investment Management LLC increased its stake in shares of Kenvue by 52.1% in the second quarter. Studio Investment Management LLC now owns 2,468 shares of the company’s stock valued at $45,000 after purchasing an additional 845 shares during the period. Deseret Mutual Benefit Administrators boosted its position in shares of Kenvue by 49.7% during the third quarter. Deseret Mutual Benefit Administrators now owns 1,960 shares of the company’s stock worth $45,000 after buying an additional 651 shares during the period. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new position in Kenvue in the 2nd quarter worth approximately $61,000. 97.64% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have weighed in on KVUE. JPMorgan Chase & Co. lifted their target price on Kenvue from $24.00 to $25.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. Jefferies Financial Group initiated coverage on shares of Kenvue in a research report on Tuesday, September 24th. They issued a “buy” rating and a $27.00 target price for the company. Royal Bank of Canada lowered shares of Kenvue from an “outperform” rating to a “sector perform” rating and set a $24.00 price target for the company. in a research note on Tuesday, September 24th. Piper Sandler boosted their target price on Kenvue from $20.00 to $21.00 and gave the stock a “neutral” rating in a report on Monday, September 23rd. Finally, Bank of America increased their price target on Kenvue from $24.00 to $27.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. One 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. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $22.64.

Kenvue Trading Down 0.3 %

Shares of NYSE KVUE opened at $22.74 on Wednesday. The business has a fifty day simple moving average of $22.96 and a 200-day simple moving average of $21.15. The company has a market cap of $43.60 billion, a price-to-earnings ratio of 41.35, a P/E/G ratio of 2.07 and a beta of 1.37. Kenvue Inc. has a 12 month low of $17.67 and a 12 month 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.

Kenvue (NYSE:KVUE) last released its earnings results on Thursday, November 7th. The company reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.01. The business had revenue of $3.90 billion for the quarter, compared to the consensus estimate of $3.92 billion. Kenvue had a net margin of 6.88% and a return on equity of 21.43%. The firm’s quarterly revenue was down .4% compared to the same quarter last year. During the same period last year, the firm posted $0.31 earnings per share. Sell-side analysts predict that Kenvue Inc. will post 1.07 EPS for the current year.

Kenvue Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th were issued a $0.205 dividend. The ex-dividend date was Wednesday, November 13th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 3.61%. Kenvue’s payout ratio is currently 149.09%.

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.