253,882 Shares in Kenvue Inc. $KVUE Purchased by Advisors Capital Management LLC

Advisors Capital Management LLC acquired a new stake in shares of Kenvue Inc. (NYSE:KVUE - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 253,882 shares of the company's stock, valued at approximately $4,852,000.

A number of other institutional investors and hedge funds have also made changes to their positions in KVUE. Physician Wealth Advisors Inc. raised its position in Kenvue by 67.5% in the 4th quarter. Physician Wealth Advisors Inc. now owns 1,533 shares of the company's stock worth $26,000 after purchasing an additional 618 shares during the period. Elyxium Wealth LLC purchased a new position in shares of Kenvue during the fourth quarter valued at approximately $26,000. Johnson Financial Group Inc. purchased a new position in shares of Kenvue during the second quarter valued at approximately $26,000. MV Capital Management Inc. bought a new position in shares of Kenvue during the fourth quarter valued at approximately $28,000. Finally, CoreCap Advisors LLC grew its stake in shares of Kenvue by 64.9% during the second quarter. CoreCap Advisors LLC now owns 1,502 shares of the company's stock valued at $29,000 after buying an additional 591 shares during the last quarter. 97.64% of the stock is owned by hedge funds and other institutional investors.

Kenvue Price Performance

Shares of KVUE stock opened at $18.92 on Friday. Kenvue Inc. has a fifty-two week low of $14.02 and a fifty-two week high of $21.78. The firm has a market capitalization of $36.34 billion, a price-to-earnings ratio of 21.75, a PEG ratio of 1.37 and a beta of 0.47. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.71 and a current ratio of 1.01. The stock's 50-day simple moving average is $19.04 and its 200-day simple moving average is $18.19.

Kenvue (NYSE:KVUE - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.31 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.01). Kenvue had a net margin of 10.76% and a return on equity of 21.22%. The company had revenue of $3.96 billion during the quarter, compared to analysts' expectations of $3.97 billion. During the same period in the previous year, the business earned $0.29 earnings per share. The business's revenue for the quarter was up 3.0% compared to the same quarter last year. As a group, equities analysts forecast that Kenvue Inc. will post 1.14 earnings per share for the current fiscal year.

Kenvue Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 26th. Investors of record on Wednesday, August 12th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 4.4%. The ex-dividend date of this dividend is Wednesday, August 12th. This is a positive change from Kenvue's previous quarterly dividend of $0.21. Kenvue's payout ratio is currently 96.55%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Weiss Ratings raised shares of Kenvue from a "hold (c-)" rating to a "hold (c)" rating in a research report on Monday, June 15th. Zacks Research lowered Kenvue from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, July 7th. Wall Street Zen lowered Kenvue from a "buy" rating to a "hold" rating in a research note on Saturday, August 8th. UBS Group reduced their target price on shares of Kenvue from $20.00 to $19.00 and set a "neutral" rating for the company in a report on Tuesday, August 11th. Finally, Barclays raised their price target on shares of Kenvue from $18.00 to $19.00 and gave the company an "equal weight" rating in a report on Tuesday, July 21st. Three analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $19.27.

Kenvue Profile

Kenvue is a consumer health company that was established as a standalone, publicly traded business after separating from Johnson & Johnson. Listed on the New York Stock Exchange under the symbol KVUE, Kenvue focuses on the development, manufacture, marketing and distribution of consumer health and personal care products across a range of categories including skin and beauty care, baby care, oral care, wound care and over‑the‑counter medicines.

The company owns and markets a portfolio of widely recognized consumer brands, including names familiar to global shoppers across retail and pharmacy channels.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source