Alpha Omega Wealth Management LLC Takes $6.92 Million Position in Kenvue Inc. (NYSE:KVUE)

Alpha Omega Wealth Management LLC acquired a new stake in shares of Kenvue Inc. (NYSE:KVUE - Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 288,550 shares of the company's stock, valued at approximately $6,919,000. Kenvue makes up 1.3% of Alpha Omega Wealth Management LLC's investment portfolio, making the stock its 19th biggest position.

A number of other hedge funds and other institutional investors also recently made changes to their positions in KVUE. Fulton Bank N.A. increased its stake in Kenvue by 0.6% in the 1st quarter. Fulton Bank N.A. now owns 78,888 shares of the company's stock worth $1,892,000 after purchasing an additional 465 shares in the last quarter. Principle Wealth Partners LLC lifted its stake in Kenvue by 3.7% in the fourth quarter. Principle Wealth Partners LLC now owns 14,194 shares of the company's stock valued at $303,000 after acquiring an additional 500 shares during the last quarter. White Pine Capital LLC boosted its holdings in Kenvue by 1.0% in the fourth quarter. White Pine Capital LLC now owns 54,572 shares of the company's stock worth $1,165,000 after purchasing an additional 542 shares in the last quarter. Deseret Mutual Benefit Administrators boosted its stake in shares of 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 in the last quarter. Finally, SRS Capital Advisors Inc. grew 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 valued at $30,000 after purchasing an additional 571 shares during the last quarter. 97.64% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on KVUE shares. Piper Sandler increased their target price on Kenvue from $24.00 to $27.00 and gave the company an "overweight" rating in a research note on Monday, February 24th. Redburn Atlantic assumed coverage on shares of Kenvue in a research note on Thursday, April 10th. They set a "neutral" rating and a $23.50 price objective on the stock. Evercore ISI started coverage on Kenvue in a report on Monday, March 24th. They issued an "in-line" rating and a $25.00 target price on the stock. Canaccord Genuity Group raised their price target on Kenvue from $24.00 to $29.00 and gave the company a "buy" rating in a report on Wednesday, March 5th. Finally, Barclays lifted their price objective on Kenvue from $22.00 to $23.00 and gave the company an "equal weight" rating in a research report on Monday, May 12th. Seven research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $25.33.

Kenvue Trading Up 1.1%

Shares of KVUE traded up $0.23 during trading hours on Thursday, hitting $22.08. 16,341,523 shares of the stock traded hands, compared to its average volume of 16,363,022. The business has a fifty day moving average of $23.02 and a 200-day moving average of $22.54. The company has a current ratio of 1.00, a quick ratio of 0.69 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $42.36 billion, a PE ratio of 41.66, a price-to-earnings-growth ratio of 2.62 and a beta of 0.98. Kenvue Inc. has a 1-year low of $17.67 and a 1-year high of $25.17.

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

Kenvue Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 28th. Stockholders of record on Wednesday, May 14th were paid a $0.205 dividend. The ex-dividend date was Wednesday, May 14th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 3.71%. Kenvue's dividend payout ratio (DPR) is presently 149.09%.

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, eye care, and other products under the Tylenol, Motrin, Benadryl, Nicorette, Zarbee's, ORSLTM, Rhinocort, Calpol, and Zyrtec brands.