Covestor Ltd Makes New Investment in Kenvue Inc. (NYSE:KVUE)

Covestor Ltd acquired a new position in Kenvue Inc. (NYSE:KVUE) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,082 shares of the company’s stock, valued at approximately $109,000.

Several other large investors have also recently bought and sold shares of the business. Manchester Capital Management LLC increased its position in shares of Kenvue by 80.8% in the first quarter. Manchester Capital Management LLC now owns 1,186 shares of the company’s stock valued at $25,000 after buying an additional 530 shares in the last quarter. Planned Solutions Inc. purchased a new position in shares of Kenvue in the fourth quarter valued at $27,000. Pacific Capital Wealth Advisors Inc. purchased a new stake in Kenvue during the 4th quarter worth about $28,000. Mather Group LLC. purchased a new stake in Kenvue during the 1st quarter worth about $28,000. Finally, Oakworth Capital Inc. purchased a new stake in Kenvue during the 1st quarter worth about $31,000. Hedge funds and other institutional investors own 97.64% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on KVUE shares. Citigroup dropped their price objective on Kenvue from $21.00 to $20.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. HSBC lifted their price objective on Kenvue from $20.00 to $21.00 and gave the stock a “hold” rating in a research report on Wednesday, May 8th. William Blair started coverage on Kenvue in a research report on Wednesday, April 3rd. They set a “market perform” rating for the company. Sanford C. Bernstein started coverage on Kenvue in a research report on Thursday, April 11th. They set an “underperform” rating and a $18.00 price objective for the company. Finally, JPMorgan Chase & Co. dropped their price objective on Kenvue from $23.00 to $22.00 and set an “overweight” rating for the company in a research report on Monday. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $22.82.

Kenvue Trading Down 1.2 %

Shares of NYSE KVUE traded down $0.21 during midday trading on Tuesday, hitting $18.02. The stock had a trading volume of 4,880,253 shares, compared to its average volume of 19,166,742. The company has a market capitalization of $34.50 billion, a price-to-earnings ratio of 23.17, a PEG ratio of 2.00 and a beta of 1.41. Kenvue Inc. has a 1-year low of $17.67 and a 1-year high of $25.23. The company has a quick ratio of 0.68, a current ratio of 0.99 and a debt-to-equity ratio of 0.66. The company has a fifty day moving average price of $18.78 and a 200 day moving average price of $19.62.

Kenvue (NYSE:KVUE) last released its quarterly earnings data on Tuesday, May 7th. The company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.03. The business 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%. Kenvue’s quarterly revenue was down 24.9% compared to the same quarter last year. On average, analysts predict that Kenvue Inc. will post 1.13 earnings per share for the current year.

Kenvue Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 22nd. Stockholders of record on Wednesday, May 8th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 4.44%. The ex-dividend date of this dividend was Tuesday, May 7th. Kenvue’s dividend payout ratio is currently 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.