NewEdge Advisors LLC Increases Position in Kenvue Inc. (NYSE:KVUE)

NewEdge Advisors LLC lifted its position in Kenvue Inc. (NYSE:KVUE) by 14.1% during the 4th quarter, Holdings Channel.com reports. The fund owned 37,489 shares of the company’s stock after acquiring an additional 4,637 shares during the period. NewEdge Advisors LLC’s holdings in Kenvue were worth $800,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Handelsbanken Fonder AB raised its holdings in shares of Kenvue by 2.9% during the fourth quarter. Handelsbanken Fonder AB now owns 742,184 shares of the company’s stock worth $15,846,000 after purchasing an additional 21,222 shares during the last quarter. Alberta Investment Management Corp grew its position in Kenvue by 23.2% during the 4th quarter. Alberta Investment Management Corp now owns 582,895 shares of the company’s stock worth $12,445,000 after purchasing an additional 109,700 shares during the period. Longbow Finance SA raised its stake in shares of Kenvue by 5.0% during the 4th quarter. Longbow Finance SA now owns 280,568 shares of the company’s stock valued at $5,990,000 after buying an additional 13,287 shares during the last quarter. Steward Partners Investment Advisory LLC lifted its holdings in shares of Kenvue by 143.1% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 47,938 shares of the company’s stock valued at $1,023,000 after buying an additional 28,216 shares during the period. Finally, CORDA Investment Management LLC. boosted its stake in shares of Kenvue by 1.4% in the fourth quarter. CORDA Investment Management LLC. now owns 1,253,096 shares of the company’s stock worth $26,754,000 after buying an additional 17,466 shares during the last quarter. Hedge funds and other institutional investors own 97.64% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on KVUE. Barclays decreased their price target on Kenvue from $23.00 to $22.00 and set an “equal weight” rating for the company in a report on Monday, April 14th. Royal Bank of Canada reissued a “sector perform” rating and set a $24.00 price target on shares of Kenvue in a report on Monday, February 3rd. Citigroup lifted their price objective on shares of Kenvue from $21.00 to $22.00 and gave the company a “neutral” rating in a report on Monday, April 14th. Canaccord Genuity Group increased their target price on shares of Kenvue from $24.00 to $29.00 and gave the stock a “buy” rating in a research note on Wednesday, March 5th. Finally, UBS Group cut their price target on Kenvue from $23.00 to $21.00 and set a “neutral” rating for the company in a research note on Friday, February 7th. Eight equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $24.42.

Kenvue Trading Up 1.2 %

Shares of KVUE opened at $23.03 on Friday. Kenvue Inc. has a 52-week low of $17.67 and a 52-week high of $24.46. The stock has a market cap of $44.19 billion, a PE ratio of 43.45, a price-to-earnings-growth ratio of 2.62 and a beta of 1.02. The firm’s fifty day moving average is $23.03 and its two-hundred day moving average is $22.43. 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 posted its quarterly earnings results on Thursday, February 6th. The company reported $0.26 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.26. Kenvue had a net margin of 6.66% and a return on equity of 20.97%. Research analysts forecast that Kenvue Inc. will post 1.14 earnings per share for the current fiscal year.

Kenvue Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 28th. Stockholders of record on Wednesday, May 14th will be given a $0.205 dividend. The ex-dividend date is Wednesday, May 14th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 3.56%. Kenvue’s dividend payout ratio (DPR) is presently 154.72%.

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.