Cary Street Partners Financial LLC Makes New $270,000 Investment in Kenvue Inc. (NYSE:KVUE)

Cary Street Partners Financial LLC bought a new stake in shares of Kenvue Inc. (NYSE:KVUE - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 12,642 shares of the company's stock, valued at approximately $270,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Grove Bank & Trust increased its stake in Kenvue by 438.4% during the fourth quarter. Grove Bank & Trust now owns 1,163 shares of the company's stock valued at $25,000 after acquiring an additional 947 shares during the period. Geneos Wealth Management Inc. bought a new stake in shares of Kenvue during the fourth quarter valued at approximately $29,000. SRS Capital Advisors Inc. raised its stake in shares of Kenvue by 67.4% in the fourth quarter. SRS Capital Advisors Inc. now owns 1,418 shares of the company's stock valued at $30,000 after purchasing an additional 571 shares in the last quarter. Fortitude Family Office LLC raised its stake in shares of Kenvue by 106.6% in the fourth quarter. Fortitude Family Office LLC now owns 1,506 shares of the company's stock valued at $32,000 after purchasing an additional 777 shares in the last quarter. Finally, Asset Planning Inc acquired a new position in shares of Kenvue in the fourth quarter valued at $42,000. Institutional investors and hedge funds own 97.64% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on KVUE shares. Canaccord Genuity Group increased their price objective 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. Piper Sandler increased their price target on shares of Kenvue from $24.00 to $27.00 and gave the stock an "overweight" rating in a research report on Monday, February 24th. Evercore ISI initiated coverage on Kenvue in a report on Monday, March 24th. They set an "in-line" rating and a $25.00 price objective on the stock. UBS Group upped their price objective on Kenvue from $24.00 to $25.00 and gave the company a "neutral" rating in a research note on Friday, May 9th. Finally, Citigroup raised their target price on Kenvue from $22.00 to $24.50 and gave the stock a "neutral" rating in a research report on Friday, May 9th. Seven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $25.33.

Kenvue Price Performance

KVUE stock traded down $0.40 during trading on Wednesday, hitting $23.26. 13,382,743 shares of the stock traded hands, compared to its average volume of 17,072,789. Kenvue Inc. has a one year low of $17.67 and a one year high of $25.17. The stock has a market cap of $44.63 billion, a price-to-earnings ratio of 43.89, a P/E/G ratio of 2.62 and a beta of 1.02. The company has a 50 day simple moving average of $23.15 and a 200 day simple moving average of $22.57. The company has a current ratio of 1.00, a quick ratio of 0.69 and a debt-to-equity ratio of 0.66.

Kenvue (NYSE:KVUE - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.01. Kenvue had a net margin of 6.66% and a return on equity of 20.97%. The firm had revenue of $3.74 billion during the quarter, compared to the consensus estimate of $3.69 billion. During the same period last year, the firm posted $0.28 EPS. The firm's quarterly revenue was down 3.9% on a year-over-year basis. Equities analysts expect that Kenvue Inc. will post 1.14 EPS for the current fiscal year.

Kenvue Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 28th. Shareholders of record on Wednesday, May 14th will be paid a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a dividend yield of 3.53%. The ex-dividend date is Wednesday, May 14th. Kenvue's dividend payout ratio is presently 149.09%.

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.