Norris Perne & French LLP MI Has $16.41 Million Stock Holdings in Kenvue Inc. (NYSE:KVUE)

Norris Perne & French LLP MI raised its stake in Kenvue Inc. (NYSE:KVUE) by 28.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 709,359 shares of the company’s stock after buying an additional 155,350 shares during the period. Norris Perne & French LLP MI’s holdings in Kenvue were worth $16,407,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of KVUE. US Bancorp DE boosted its holdings in shares of Kenvue by 21.0% during the 3rd quarter. US Bancorp DE now owns 165,454 shares of the company’s stock valued at $3,827,000 after acquiring an additional 28,706 shares in the last quarter. Financial Advocates Investment Management boosted its stake in shares of Kenvue by 11.7% during the third quarter. Financial Advocates Investment Management now owns 12,361 shares of the company’s stock valued at $286,000 after purchasing an additional 1,298 shares in the last quarter. JFS Wealth Advisors LLC grew its holdings in shares of Kenvue by 50.4% during the third quarter. JFS Wealth Advisors LLC now owns 3,561 shares of the company’s stock worth $82,000 after purchasing an additional 1,193 shares during the last quarter. Pinnacle Associates Ltd. acquired a new position in shares of Kenvue in the third quarter valued at approximately $214,000. Finally, First Trust Direct Indexing L.P. raised its holdings in Kenvue by 48.5% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 52,770 shares of the company’s stock valued at $1,221,000 after buying an additional 17,239 shares during the last quarter. Institutional investors own 97.64% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on KVUE. Bank of America upped their price target on shares of Kenvue from $24.00 to $27.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Jefferies Financial Group initiated coverage on Kenvue in a report on Tuesday, September 24th. They issued a “buy” rating and a $27.00 price objective for the company. UBS Group raised their target price on Kenvue from $20.00 to $22.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Piper Sandler upped their price target on Kenvue from $20.00 to $21.00 and gave the company a “neutral” rating in a research report on Monday, September 23rd. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on Kenvue from $23.00 to $24.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Kenvue currently has an average rating of “Hold” and an average target price of $22.64.

Kenvue Stock Up 0.2 %

Shares of NYSE:KVUE opened at $22.93 on Friday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.68 and a current ratio of 0.99. Kenvue Inc. has a 52-week low of $17.67 and a 52-week high of $23.55. The business’s 50 day simple moving average is $22.51 and its two-hundred day simple moving average is $20.38. The firm has a market cap of $43.91 billion, a P/E ratio of 39.53, a PEG ratio of 2.99 and a beta of 1.40.

Kenvue (NYSE:KVUE) last issued its earnings results on Tuesday, August 6th. The company reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.04. The company had revenue of $4 billion for the quarter, compared to analysts’ expectations of $3.93 billion. Kenvue had a return on equity of 21.80% and a net margin of 7.23%. Kenvue’s quarterly revenue was down .3% compared to the same quarter last year. During the same period last year, the business earned $0.32 EPS. As a group, research analysts forecast that Kenvue Inc. will post 1.08 EPS for the current fiscal year.

Kenvue Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th will be given a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a dividend yield of 3.58%. The ex-dividend date of this dividend is Wednesday, November 13th. Kenvue’s payout ratio is presently 141.38%.

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.