Vance Wealth Inc. Takes Position in Kenvue Inc. (NYSE:KVUE)

Vance Wealth Inc. purchased a new stake in shares of Kenvue Inc. (NYSE:KVUE) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 9,325 shares of the company’s stock, valued at approximately $216,000.

A number of other institutional investors and hedge funds have also modified their holdings of KVUE. Riverview Trust Co purchased a new position in shares of Kenvue during the third quarter valued at $30,000. Ashton Thomas Securities LLC purchased a new position in shares of Kenvue during the third quarter valued at $35,000. Studio Investment Management LLC grew its holdings in shares of Kenvue by 52.1% during the second quarter. Studio Investment Management LLC now owns 2,468 shares of the company’s stock valued at $45,000 after buying an additional 845 shares in the last quarter. Deseret Mutual Benefit Administrators grew its holdings in shares of Kenvue by 49.7% during the third quarter. Deseret Mutual Benefit Administrators now owns 1,960 shares of the company’s stock valued at $45,000 after buying an additional 651 shares in the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new position in shares of Kenvue during the second quarter valued at $61,000. Hedge funds and other institutional investors own 97.64% of the company’s stock.

Kenvue Price Performance

NYSE KVUE opened at $23.73 on Tuesday. Kenvue Inc. has a twelve month low of $17.67 and a twelve month high of $24.13. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.69 and a current ratio of 1.00. The stock has a market capitalization of $45.50 billion, a PE ratio of 43.15, a P/E/G ratio of 2.16 and a beta of 1.36. The stock has a 50-day simple moving average of $22.77 and a 200 day simple moving average of $20.71.

Kenvue (NYSE:KVUE) last posted its quarterly earnings data on Thursday, November 7th. The company reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.01. Kenvue had a return on equity of 21.43% and a net margin of 6.88%. The business had revenue of $3.90 billion during the quarter, compared to analysts’ expectations of $3.92 billion. During the same quarter in the previous year, the firm earned $0.31 EPS. The firm’s revenue was down .4% compared to the same quarter last year. Research analysts anticipate that Kenvue Inc. will post 1.07 EPS for the current year.

Kenvue Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th will be given a dividend of $0.205 per share. The ex-dividend date is Wednesday, November 13th. This represents a $0.82 annualized dividend and a dividend yield of 3.46%. Kenvue’s dividend payout ratio is presently 149.09%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on KVUE. Piper Sandler lifted their price objective on Kenvue from $20.00 to $21.00 and gave the company a “neutral” rating in a research report on Monday, September 23rd. Jefferies Financial Group began coverage on Kenvue in a research report on Tuesday, September 24th. They set a “buy” rating and a $27.00 price objective for the company. Deutsche Bank Aktiengesellschaft lifted their price objective on Kenvue from $23.00 to $24.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. JPMorgan Chase & Co. lifted their price objective on Kenvue from $24.00 to $25.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. Finally, UBS Group lifted their price objective on Kenvue from $20.00 to $22.00 and gave the company a “neutral” rating in a research 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’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $22.64.

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.