Leo Wealth LLC Invests $3.24 Million in Kenvue Inc. (NYSE:KVUE)

Leo Wealth LLC bought a new stake in shares of Kenvue Inc. (NYSE:KVUE) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 150,478 shares of the company’s stock, valued at approximately $3,240,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Beaumont Financial Advisors LLC increased its holdings in shares of Kenvue by 3.0% during the 4th quarter. Beaumont Financial Advisors LLC now owns 17,532 shares of the company’s stock valued at $377,000 after purchasing an additional 509 shares in the last quarter. Pinnacle Bancorp Inc. boosted its position in Kenvue by 51.3% during the fourth quarter. Pinnacle Bancorp Inc. now owns 1,552 shares of the company’s stock worth $33,000 after purchasing an additional 526 shares in the last quarter. Tradition Wealth Management LLC increased its position in shares of Kenvue by 2.8% in the fourth quarter. Tradition Wealth Management LLC now owns 21,278 shares of the company’s stock valued at $458,000 after buying an additional 575 shares in the last quarter. Dfpg Investments LLC increased its holdings in Kenvue by 2.3% in the 4th quarter. Dfpg Investments LLC now owns 26,659 shares of the company’s stock worth $567,000 after acquiring an additional 589 shares in the last quarter. Finally, Mutual Advisors LLC lifted its holdings in Kenvue by 6.1% during the fourth quarter. Mutual Advisors LLC now owns 10,606 shares of the company’s stock valued at $228,000 after purchasing an additional 612 shares in the last quarter. 97.64% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

KVUE has been the topic of a number of research analyst reports. Citigroup reaffirmed a “neutral” rating and issued a $21.00 price target on shares of Kenvue in a research note on Tuesday, May 28th. HSBC boosted their price objective on Kenvue from $20.00 to $21.00 and gave the stock a “hold” rating in a research note on Wednesday, May 8th. William Blair began coverage on shares of Kenvue in a research report on Wednesday, April 3rd. They set a “market perform” rating on the stock. Sanford C. Bernstein assumed coverage on shares of Kenvue in a report on Thursday, April 11th. They issued an “underperform” rating and a $18.00 target price on the stock. Finally, The Goldman Sachs Group started coverage on Kenvue in a research report on Friday, March 1st. They issued a “neutral” rating and a $20.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $23.09.

Kenvue Stock Up 4.0 %

Shares of NYSE KVUE traded up $0.72 during mid-day trading on Monday, reaching $18.79. The company had a trading volume of 20,079,246 shares, compared to its average volume of 18,906,955. The firm has a 50 day simple moving average of $19.39 and a two-hundred day simple moving average of $20.10. Kenvue Inc. has a 52-week low of $17.75 and a 52-week high of $26.74. The company has a current ratio of 0.99, a quick ratio of 0.68 and a debt-to-equity ratio of 0.66. The stock has a market cap of $35.98 billion and a P/E ratio of 24.08.

Kenvue (NYSE:KVUE) last released its quarterly earnings results on Tuesday, May 7th. The company reported $0.28 EPS for the quarter, topping the consensus estimate of $0.25 by $0.03. The company had revenue of $2.89 billion for the quarter, compared to analyst estimates of $3.79 billion. Kenvue had a return on equity of 21.06% and a net margin of 9.63%. The company’s revenue for the quarter was down 24.9% on a year-over-year basis. Sell-side analysts predict that Kenvue Inc. will post 1.18 earnings per share for the current year.

Kenvue Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 22nd. Investors of record on Wednesday, May 8th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 4.26%. The ex-dividend date was Tuesday, May 7th. Kenvue’s dividend payout ratio is presently 102.56%.

Kenvue Company 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.