Beacon Investment Advisory Services Inc. Boosts Stock Holdings in Kenvue Inc. (NYSE:KVUE)

Beacon Investment Advisory Services Inc. raised its position in Kenvue Inc. (NYSE:KVUE - Free Report) by 7.9% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 261,078 shares of the company's stock after acquiring an additional 19,088 shares during the period. Beacon Investment Advisory Services Inc.'s holdings in Kenvue were worth $6,261,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Cambridge Investment Research Advisors Inc. boosted its position in shares of Kenvue by 4.0% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 106,140 shares of the company's stock worth $2,545,000 after purchasing an additional 4,034 shares in the last quarter. Starboard Value LP acquired a new position in Kenvue during the fourth quarter worth about $467,864,000. TrueMark Investments LLC increased its holdings in Kenvue by 9.3% in the fourth quarter. TrueMark Investments LLC now owns 190,595 shares of the company's stock valued at $4,069,000 after buying an additional 16,161 shares in the last quarter. Kingswood Wealth Advisors LLC acquired a new stake in shares of Kenvue during the 1st quarter valued at approximately $413,000. Finally, Cooper Investors PTY Ltd. boosted its stake in shares of Kenvue by 39.7% during the 1st quarter. Cooper Investors PTY Ltd. now owns 858,076 shares of the company's stock worth $20,577,000 after acquiring an additional 244,043 shares in the last quarter. Hedge funds and other institutional investors own 97.64% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on KVUE shares. Barclays dropped their price objective on Kenvue from $23.00 to $22.00 and set an "equal weight" rating for the company in a research note on Tuesday, July 15th. Redburn Atlantic initiated coverage on Kenvue in a research report on Thursday, April 10th. They issued a "neutral" rating and a $23.50 price target for the company. UBS Group decreased their price objective on shares of Kenvue from $25.00 to $23.00 and set a "neutral" rating on the stock in a research report on Thursday, July 17th. Bank of America lowered their price objective on shares of Kenvue from $27.00 to $25.00 and set a "buy" rating on the stock in a research note on Tuesday, July 15th. Finally, Citigroup cut their target price on shares of Kenvue from $24.50 to $22.00 and set a "neutral" rating for the company in a research report on Tuesday, July 15th. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $24.71.

Kenvue Trading Down 0.1%

Shares of NYSE:KVUE traded down $0.02 during trading on Thursday, reaching $22.53. The stock had a trading volume of 6,736,495 shares, compared to its average volume of 18,386,592. The business has a fifty day moving average price of $22.08 and a 200-day moving average price of $22.32. The company has a quick ratio of 0.60, a current ratio of 0.86 and a debt-to-equity ratio of 0.63. The stock has a market cap of $43.22 billion, a P/E ratio of 20.49, a PEG ratio of 3.76 and a beta of 0.83. Kenvue Inc. has a fifty-two week low of $18.10 and a fifty-two week high of $25.17.

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

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.