Heritage Oak Wealth Advisors LLC Acquires Shares of 16,229 Kenvue Inc. (NYSE:KVUE)

Heritage Oak Wealth Advisors LLC bought a new position in shares of Kenvue Inc. (NYSE:KVUE) during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund bought 16,229 shares of the company’s stock, valued at approximately $375,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cornerstone Wealth Group LLC grew its holdings in shares of Kenvue by 176.2% in the 1st quarter. Cornerstone Wealth Group LLC now owns 350,371 shares of the company’s stock worth $7,519,000 after acquiring an additional 223,537 shares during the period. Janney Montgomery Scott LLC grew its holdings in shares of Kenvue by 56.2% in the 1st quarter. Janney Montgomery Scott LLC now owns 1,840,875 shares of the company’s stock worth $39,505,000 after acquiring an additional 662,666 shares during the period. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of Kenvue in the 1st quarter worth approximately $1,050,000. Norden Group LLC acquired a new stake in shares of Kenvue in the 1st quarter worth approximately $1,792,000. Finally, Lorne Steinberg Wealth Management Inc. grew its holdings in shares of Kenvue by 59.0% in the 2nd quarter. Lorne Steinberg Wealth Management Inc. now owns 154,690 shares of the company’s stock worth $2,812,000 after acquiring an additional 57,375 shares during the period. Institutional investors and hedge funds own 97.64% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on KVUE shares. Bank of America increased their target price on Kenvue from $24.00 to $27.00 and gave the company a “buy” rating in a report on Tuesday. Piper Sandler increased their target price on Kenvue from $20.00 to $21.00 and gave the company a “neutral” rating in a report on Monday, September 23rd. Royal Bank of Canada cut Kenvue from an “outperform” rating to a “sector perform” rating and set a $24.00 target price on the stock. in a report on Tuesday, September 24th. Deutsche Bank Aktiengesellschaft increased their target price on Kenvue from $23.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. Finally, UBS Group increased their target price on Kenvue from $20.00 to $22.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Kenvue has a consensus rating of “Hold” and an average target price of $22.64.

Kenvue Trading Down 1.4 %

Shares of KVUE opened at $22.64 on Friday. The company has a current ratio of 0.99, a quick ratio of 0.68 and a debt-to-equity ratio of 0.69. The firm has a market capitalization of $43.36 billion, a P/E ratio of 39.03, a price-to-earnings-growth ratio of 3.00 and a beta of 1.40. The stock’s fifty day simple moving average is $22.41 and its 200 day simple moving average is $20.29. Kenvue Inc. has a twelve month low of $17.67 and a twelve month high of $23.55.

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

Kenvue Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th will be issued a $0.205 dividend. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $0.82 annualized dividend and a yield of 3.62%. Kenvue’s dividend payout ratio is currently 141.38%.

About Kenvue

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.