Novare Capital Management LLC Has $10.50 Million Position in Kenvue Inc. (NYSE:KVUE)

Novare Capital Management LLC raised its stake in shares of Kenvue Inc. (NYSE:KVUE) by 6.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 491,970 shares of the company’s stock after purchasing an additional 28,616 shares during the period. Novare Capital Management LLC’s holdings in Kenvue were worth $10,504,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. AE Wealth Management LLC lifted its stake in shares of Kenvue by 29.2% in the second quarter. AE Wealth Management LLC now owns 15,259 shares of the company’s stock valued at $277,000 after buying an additional 3,453 shares during the period. Public Sector Pension Investment Board lifted its position in Kenvue by 92.9% in the second quarter. Public Sector Pension Investment Board now owns 73,637 shares of the company’s stock worth $1,339,000 after purchasing an additional 35,461 shares during the period. AQR Capital Management LLC increased its holdings in Kenvue by 427.0% in the 2nd quarter. AQR Capital Management LLC now owns 1,178,988 shares of the company’s stock valued at $21,434,000 after buying an additional 955,283 shares during the period. APG Asset Management N.V. increased its holdings in Kenvue by 305.7% in the 2nd quarter. APG Asset Management N.V. now owns 196,766 shares of the company’s stock valued at $3,338,000 after buying an additional 148,263 shares during the period. Finally, Daymark Wealth Partners LLC acquired a new position in shares of Kenvue in the 2nd quarter valued at $401,000. Institutional investors own 97.64% of the company’s stock.

Kenvue Stock Up 0.2 %

KVUE stock opened at $20.79 on Friday. Kenvue Inc. has a fifty-two week low of $17.67 and a fifty-two week high of $24.46. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.00 and a quick ratio of 0.69. The stock has a market capitalization of $39.85 billion, a price-to-earnings ratio of 37.79, a PEG ratio of 1.99 and a beta of 1.46. The business’s fifty day moving average price is $22.14 and its two-hundred day moving average price is $21.78.

Kenvue (NYSE:KVUE) last announced its earnings results 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 firm had revenue of $3.90 billion for the quarter, compared to analyst estimates of $3.92 billion. During the same quarter in the prior year, the business posted $0.31 EPS. The business’s revenue was down .4% compared to the same quarter last year. On average, equities analysts anticipate that Kenvue Inc. will post 1.14 earnings per share for the current year.

Kenvue Dividend Announcement

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

Analyst Upgrades and Downgrades

Several brokerages have weighed in on KVUE. Bank of America upped their price objective on shares of Kenvue from $24.00 to $27.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. JPMorgan Chase & Co. increased their price target on Kenvue from $24.00 to $25.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. UBS Group cut their price objective on Kenvue from $24.00 to $23.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. Barclays reduced their price objective on Kenvue from $23.00 to $21.00 and set an “equal weight” rating on the stock in a research note on Friday, January 17th. Finally, Citigroup cut their price target on Kenvue from $25.00 to $21.00 and set a “neutral” rating for the company in a report on Wednesday, January 15th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $23.08.

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.