Merit Financial Group LLC Acquires Shares of 11,770 Kenvue Inc. (NYSE:KVUE)

Merit Financial Group LLC bought a new position in shares of Kenvue Inc. (NYSE:KVUE) in the 4th quarter, Holdings Channel reports. The fund bought 11,770 shares of the company’s stock, valued at approximately $253,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Beaumont Financial Advisors LLC lifted its position in Kenvue by 3.0% during the 4th quarter. Beaumont Financial Advisors LLC now owns 17,532 shares of the company’s stock worth $377,000 after acquiring an additional 509 shares during the period. Pinnacle Bancorp Inc. grew its position in Kenvue by 51.3% in the 4th quarter. Pinnacle Bancorp Inc. now owns 1,552 shares of the company’s stock valued at $33,000 after buying an additional 526 shares during the last quarter. Dfpg Investments LLC increased its stake in Kenvue by 2.3% in the 4th quarter. Dfpg Investments LLC now owns 26,659 shares of the company’s stock valued at $567,000 after buying an additional 589 shares during the period. Mutual Advisors LLC raised its position in Kenvue by 6.1% during the 4th quarter. Mutual Advisors LLC now owns 10,606 shares of the company’s stock worth $228,000 after buying an additional 612 shares during the last quarter. Finally, Baron Wealth Management LLC raised its position in Kenvue by 7.5% during the 4th quarter. Baron Wealth Management LLC now owns 12,915 shares of the company’s stock worth $278,000 after buying an additional 899 shares during the last quarter. Hedge funds and other institutional investors own 97.64% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on KVUE shares. Royal Bank of Canada dropped their price target on shares of Kenvue from $25.00 to $24.00 and set an “outperform” rating on the stock in a research note on Friday, February 9th. JPMorgan Chase & Co. dropped their target price on Kenvue from $25.00 to $24.00 and set an “overweight” rating on the stock in a research report on Friday, February 9th. Sanford C. Bernstein initiated coverage on Kenvue in a report on Thursday, April 11th. They issued an “underperform” rating and a $18.00 price target for the company. HSBC lifted their price target on Kenvue from $20.00 to $21.00 and gave the company a “hold” rating in a research note on Wednesday. Finally, The Goldman Sachs Group initiated 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 analyst has rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, Kenvue has an average rating of “Hold” and an average target price of $24.38.

Kenvue Price Performance

NYSE KVUE opened at $20.54 on Friday. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.12 and a quick ratio of 0.78. Kenvue Inc. has a fifty-two week low of $17.82 and a fifty-two week high of $27.80. The business has a fifty day moving average of $19.90 and a 200-day moving average of $20.12.

Kenvue (NYSE:KVUE) last announced its earnings results 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. Kenvue had a net margin of 9.87% and a return on equity of 15.62%. The firm had revenue of $2.89 billion during the quarter, compared to the consensus estimate of $3.79 billion. The company’s revenue was down 24.9% compared to the same quarter last year. Equities research analysts predict that Kenvue Inc. will post 1.15 earnings per share for the current year.

Kenvue Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors of record on Wednesday, May 8th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 3.89%. The ex-dividend date is Tuesday, May 7th.

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.