Richard E. Allison, Jr. Buys 5,598 Shares of Kenvue Inc. (NYSE:KVUE) Stock

Kenvue Inc. (NYSE:KVUE) Director Richard E. Allison, Jr. acquired 5,598 shares of the firm’s stock in a transaction that occurred on Wednesday, August 30th. The stock was purchased at an average cost of $22.96 per share, with a total value of $128,530.08. Following the acquisition, the director now owns 25,598 shares in the company, valued at approximately $587,730.08. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Kenvue Trading Down 0.4 %

Shares of KVUE opened at $22.96 on Friday. Kenvue Inc. has a 12-month low of $22.36 and a 12-month high of $27.80. The company has a quick ratio of 0.79, a current ratio of 1.17 and a debt-to-equity ratio of 0.70. The firm’s 50-day simple moving average is $24.27.

Kenvue (NYSE:KVUE) last announced its earnings results on Thursday, July 20th. The company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.02. The company had revenue of $4.01 billion for the quarter, compared to the consensus estimate of $3.96 billion. The company’s revenue was up 5.4% compared to the same quarter last year. As a group, research analysts expect that Kenvue Inc. will post 1.26 earnings per share for the current year.

Kenvue Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 7th. Investors of record on Monday, August 28th will be given a $0.20 dividend. The ex-dividend date of this dividend is Friday, August 25th. This represents a $0.80 annualized dividend and a yield of 3.48%.

Institutional Investors Weigh In On Kenvue

Several hedge funds have recently added to or reduced their stakes in KVUE. Renaissance Capital LLC bought a new position in shares of Kenvue during the 2nd quarter valued at about $2,074,000. Benson Investment Management Company Inc. bought a new position in Kenvue during the second quarter valued at approximately $3,797,000. Teacher Retirement System of Texas purchased a new position in shares of Kenvue during the second quarter worth approximately $7,926,000. Norris Perne & French LLP MI bought a new stake in shares of Kenvue in the 2nd quarter worth approximately $12,145,000. Finally, Baugh & Associates LLC purchased a new stake in shares of Kenvue in the 2nd quarter valued at $2,019,000. Institutional investors own 11.33% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. UBS Group started coverage on shares of Kenvue in a research note on Tuesday, May 30th. They issued a “neutral” rating and a $28.00 target price for the company. JPMorgan Chase & Co. started coverage on Kenvue in a research report on Monday, May 29th. They set an “overweight” rating and a $29.00 target price on the stock. BNP Paribas assumed coverage on Kenvue in a research report on Tuesday, May 30th. They issued a “neutral” rating and a $28.00 price target for the company. Royal Bank of Canada reiterated an “outperform” rating and set a $29.00 price objective on shares of Kenvue in a research note on Thursday, August 17th. Finally, HSBC assumed coverage on Kenvue in a research note on Thursday, June 1st. They issued a “hold” rating and a $27.00 target price for the company. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $28.11.

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, and other products under the Tylenol, Nicorette, and Zyrtec brands.