Kingswood Wealth Advisors LLC Acquires Shares of 17,238 Kenvue Inc. (NYSE:KVUE)

Kingswood Wealth Advisors LLC purchased a new position in Kenvue Inc. (NYSE:KVUE) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm purchased 17,238 shares of the company’s stock, valued at approximately $413,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. SRS Capital Advisors Inc. boosted its holdings in Kenvue by 67.4% during the fourth quarter. SRS Capital Advisors Inc. now owns 1,418 shares of the company’s stock worth $30,000 after buying an additional 571 shares during the last quarter. Clarity Asset Management Inc. bought a new position in Kenvue during the fourth quarter worth about $45,000. SBI Securities Co. Ltd. bought a new position in Kenvue during the 4th quarter worth approximately $46,000. Deseret Mutual Benefit Administrators boosted its stake in Kenvue by 29.0% during the 4th quarter. Deseret Mutual Benefit Administrators now owns 2,528 shares of the company’s stock worth $54,000 after acquiring an additional 568 shares during the last quarter. Finally, Versant Capital Management Inc boosted its stake in Kenvue by 77.9% during the 1st quarter. Versant Capital Management Inc now owns 3,415 shares of the company’s stock worth $82,000 after acquiring an additional 1,495 shares during the last quarter. 97.64% of the stock is currently owned by institutional investors.

Kenvue Trading Up 0.1%

NYSE KVUE opened at $21.39 on Friday. The stock’s 50 day moving average price is $22.99 and its two-hundred day moving average price is $22.41. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.60 and a current ratio of 0.86. The stock has a market capitalization of $41.03 billion, a price-to-earnings ratio of 38.88, a PEG ratio of 3.32 and a beta of 0.98. Kenvue Inc. has a 52 week low of $17.67 and a 52 week high of $25.17.

Kenvue (NYSE:KVUE) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.01. Kenvue had a net margin of 6.90% and a return on equity of 20.87%. The business had revenue of $3.74 billion for the quarter, compared to analyst estimates of $3.69 billion. During the same quarter in the previous year, the firm posted $0.28 earnings per share. The firm’s revenue for the quarter was down 3.9% on a year-over-year basis. As a group, analysts anticipate that Kenvue Inc. will post 1.14 earnings per share for the current fiscal year.

Kenvue Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 28th. Shareholders of record on Wednesday, May 14th were given a dividend of $0.205 per share. The ex-dividend date of this dividend was Wednesday, May 14th. This represents a $0.82 annualized dividend and a yield of 3.83%. Kenvue’s dividend payout ratio (DPR) is presently 149.09%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. UBS Group lifted their target price on Kenvue from $24.00 to $25.00 and gave the stock a “neutral” rating in a report on Friday, May 9th. Redburn Atlantic assumed coverage on Kenvue in a report on Thursday, April 10th. They set a “neutral” rating and a $23.50 price objective on the stock. Citigroup reiterated a “neutral” rating on shares of Kenvue in a report on Friday, June 13th. Piper Sandler lifted their price objective on Kenvue from $24.00 to $27.00 and gave the company an “overweight” rating in a report on Monday, February 24th. Finally, Canaccord Genuity Group lifted their price target on shares of Kenvue from $24.00 to $29.00 and gave the company a “buy” rating in a research note on Wednesday, March 5th. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Kenvue currently has an average rating of “Hold” and an average price target of $25.33.

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.