49 Wealth Management LLC Buys New Shares in Kenvue Inc. (NYSE:KVUE)

49 Wealth Management LLC purchased a new stake in Kenvue Inc. (NYSE:KVUE - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 16,976 shares of the company's stock, valued at approximately $407,000.

A number of other hedge funds have also recently bought and sold shares of the stock. SBI Securities Co. Ltd. bought a new position in Kenvue in the fourth quarter worth $46,000. Steward Partners Investment Advisory LLC lifted its position in Kenvue by 143.1% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 47,938 shares of the company's stock worth $1,023,000 after purchasing an additional 28,216 shares during the period. Victory Capital Management Inc. lifted its holdings in shares of Kenvue by 23.3% during the 4th quarter. Victory Capital Management Inc. now owns 1,636,938 shares of the company's stock worth $34,949,000 after acquiring an additional 308,864 shares during the period. Assetmark Inc. boosted its position in shares of Kenvue by 15.2% during the 4th quarter. Assetmark Inc. now owns 78,082 shares of the company's stock valued at $1,667,000 after acquiring an additional 10,286 shares in the last quarter. Finally, Proficio Capital Partners LLC acquired a new stake in shares of Kenvue during the 4th quarter valued at about $1,643,000. 97.64% of the stock is owned by institutional investors.

Kenvue Trading Down 0.3%

Shares of KVUE traded down $0.07 on Wednesday, reaching $20.64. 3,145,787 shares of the company's stock were exchanged, compared to its average volume of 16,077,053. The business has a 50 day moving average price of $22.57 and a two-hundred day moving average price of $22.32. The stock has a market capitalization of $39.59 billion, a P/E ratio of 37.49, a price-to-earnings-growth ratio of 3.25 and a beta of 0.83. Kenvue Inc. has a 12 month low of $17.67 and a 12 month high of $25.17. The company has a current ratio of 0.86, a quick ratio of 0.60 and a debt-to-equity ratio of 0.63.

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

Kenvue Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 28th. Investors of record on Wednesday, May 14th were paid a dividend of $0.205 per share. The ex-dividend date of this dividend was Wednesday, May 14th. This represents a $0.82 dividend on an annualized basis and a yield of 3.97%. Kenvue's payout ratio is 149.09%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on KVUE shares. Redburn Atlantic started coverage on shares of Kenvue in a research note on Thursday, April 10th. They set a "neutral" rating and a $23.50 price target for the company. Citigroup restated a "neutral" rating on shares of Kenvue in a research report on Friday, June 13th. Barclays raised their target price on Kenvue from $22.00 to $23.00 and gave the stock an "equal weight" rating in a research report on Monday, May 12th. UBS Group lifted their price objective on Kenvue from $24.00 to $25.00 and gave the company a "neutral" rating in a report on Friday, May 9th. Finally, Evercore ISI assumed coverage on Kenvue in a report on Monday, March 24th. They set an "in-line" rating and a $25.00 price objective for the company. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, Kenvue presently has an average rating of "Hold" and a consensus target price 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.