Coho Partners Ltd. Purchases New Holdings in Kenvue Inc. (NYSE:KVUE)

Coho Partners Ltd. acquired a new position in shares of Kenvue Inc. (NYSE:KVUE) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor acquired 358,844 shares of the company’s stock, valued at approximately $8,300,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC increased its holdings in shares of Kenvue by 1,529.5% in the 3rd quarter. International Assets Investment Management LLC now owns 106,341 shares of the company’s stock valued at $2,460,000 after purchasing an additional 99,815 shares during the period. Altus Wealth Group LLC lifted its position in Kenvue by 28.9% in the 3rd quarter. Altus Wealth Group LLC now owns 31,861 shares of the company’s stock worth $737,000 after buying an additional 7,142 shares in the last quarter. Commerzbank Aktiengesellschaft FI purchased a new position in shares of Kenvue during the 3rd quarter valued at $292,000. Global X Japan Co. Ltd. boosted its position in Kenvue by 8.0% during the third quarter. Global X Japan Co. Ltd. now owns 23,652 shares of the company’s stock valued at $547,000 after purchasing an additional 1,748 shares during the last quarter. Finally, Leo Wealth LLC grew its stake in Kenvue by 0.3% in the third quarter. Leo Wealth LLC now owns 151,611 shares of the company’s stock valued at $3,507,000 after purchasing an additional 481 shares in the last quarter. 97.64% of the stock is currently owned by hedge funds and other institutional investors.

Kenvue Stock Performance

KVUE opened at $22.75 on Thursday. The company has a quick ratio of 0.68, a current ratio of 0.99 and a debt-to-equity ratio of 0.69. The stock’s 50 day moving average price is $22.36 and its two-hundred day moving average price is $20.26. The firm has a market capitalization of $43.56 billion, a P/E ratio of 29.17, a price-to-earnings-growth ratio of 2.76 and a beta of 1.40. Kenvue Inc. has a 12-month low of $17.67 and a 12-month high of $23.55.

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

Kenvue Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th will be given a $0.205 dividend. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 3.60%. Kenvue’s dividend payout ratio is currently 105.13%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on KVUE. Piper Sandler lifted their price target on Kenvue from $20.00 to $21.00 and gave the company a “neutral” rating in a report on Monday, September 23rd. Jefferies Financial Group initiated coverage on shares of Kenvue in a research note on Tuesday, September 24th. They issued a “buy” rating and a $27.00 target price for the company. UBS Group increased their price target on shares of Kenvue from $20.00 to $22.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Citigroup reduced their price objective on shares of Kenvue from $21.00 to $20.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. Finally, Bank of America raised their target price on Kenvue from $24.00 to $27.00 and gave the company a “buy” rating in a report on Tuesday. One research analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Kenvue presently has a consensus rating of “Hold” and a consensus target price of $22.64.

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.