Allen Mooney & Barnes Investment Advisors LLC Acquires 17,835 Shares of Kenvue Inc. (NYSE:KVUE)

Allen Mooney & Barnes Investment Advisors LLC lifted its stake in shares of Kenvue Inc. (NYSE:KVUE - Free Report) by 3.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 564,498 shares of the company's stock after acquiring an additional 17,835 shares during the quarter. Kenvue makes up 2.2% of Allen Mooney & Barnes Investment Advisors LLC's holdings, making the stock its 13th biggest holding. Allen Mooney & Barnes Investment Advisors LLC's holdings in Kenvue were worth $13,537,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in KVUE. SRS Capital Advisors Inc. raised its position in shares of 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 acquiring an additional 571 shares during the last quarter. Asset Planning Inc acquired a new stake in Kenvue during the fourth quarter worth approximately $42,000. Clarity Asset Management Inc. acquired a new stake in Kenvue during the fourth quarter worth approximately $45,000. SBI Securities Co. Ltd. acquired a new stake in Kenvue during the fourth quarter worth approximately $46,000. Finally, Deseret Mutual Benefit Administrators grew its stake in Kenvue by 29.0% during the fourth quarter. Deseret Mutual Benefit Administrators now owns 2,528 shares of the company's stock worth $54,000 after purchasing an additional 568 shares during the period. 97.64% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on KVUE. Evercore ISI began coverage on Kenvue in a research note on Monday, March 24th. They set an "in-line" rating and a $25.00 target price for the company. Piper Sandler raised their target price on Kenvue from $24.00 to $27.00 and gave the stock an "overweight" rating in a research note on Monday, February 24th. Citigroup raised their target price on Kenvue from $22.00 to $24.50 and gave the stock a "neutral" rating in a research note on Friday, May 9th. UBS Group raised their target price on Kenvue from $24.00 to $25.00 and gave the stock a "neutral" rating in a research note on Friday, May 9th. Finally, Redburn Atlantic started coverage on Kenvue in a research note on Thursday, April 10th. They set a "neutral" rating and a $23.50 target price for the company. Seven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $25.33.

Kenvue Stock Down 2.7%

Shares of NYSE:KVUE traded down $0.60 during mid-day trading on Friday, hitting $21.44. 37,242,399 shares of the company traded hands, compared to its average volume of 16,489,867. The stock has a market cap of $41.14 billion, a P/E ratio of 40.46, a P/E/G ratio of 2.62 and a beta of 0.98. 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 Inc. has a 12-month low of $17.67 and a 12-month high of $25.17. The stock has a 50-day moving average price of $23.03 and a two-hundred day moving average price of $22.49.

Kenvue (NYSE:KVUE - Get Free Report) last announced its 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. The company had revenue of $3.74 billion for the quarter, compared to analysts' expectations of $3.69 billion. Kenvue had a return on equity of 20.97% and a net margin of 6.66%. Kenvue's quarterly revenue was down 3.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.28 earnings per share. On average, equities research analysts forecast that Kenvue Inc. will post 1.14 earnings per share for the current year.

Kenvue Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 28th. Investors of record on Wednesday, May 14th were issued a dividend of $0.205 per share. The ex-dividend date was Wednesday, May 14th. This represents a $0.82 dividend on an annualized basis and a yield of 3.82%. Kenvue's dividend payout ratio (DPR) is currently 149.09%.

Kenvue 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.