Beacon Investment Advisory Services Inc. lessened its position in Kenvue Inc. (NYSE:KVUE - Free Report) by 88.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,836 shares of the company's stock after selling 64,807 shares during the period. Beacon Investment Advisory Services Inc.'s holdings in Kenvue were worth $169,000 at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of the company. Callan Family Office LLC bought a new position in shares of Kenvue during the 2nd quarter worth approximately $835,000. Calamos Advisors LLC lifted its holdings in Kenvue by 24.1% during the 1st quarter. Calamos Advisors LLC now owns 3,351,000 shares of the company's stock valued at $57,771,000 after purchasing an additional 651,000 shares during the last quarter. State of Wyoming boosted its position in Kenvue by 233.5% during the fourth quarter. State of Wyoming now owns 97,992 shares of the company's stock worth $1,690,000 after purchasing an additional 68,609 shares during the period. Nuance Investments LLC bought a new position in Kenvue during the second quarter worth $27,681,000. Finally, Nomura Asset Management Co. Ltd. boosted its position in Kenvue by 21.5% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 3,491,548 shares of the company's stock worth $60,229,000 after purchasing an additional 618,720 shares during the period. 97.64% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several equities analysts have recently weighed in 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 downgraded Kenvue from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, July 7th. Barclays upped their price objective on Kenvue from $18.00 to $19.00 and gave the company an "equal weight" rating in a report on Tuesday, July 21st. Wall Street Zen cut Kenvue from a "buy" rating to a "hold" rating in a research report on Saturday, August 8th. Finally, UBS Group dropped their target price on Kenvue from $20.00 to $19.00 and set a "neutral" rating for the company in a report on Tuesday, August 11th. Three analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $19.27.
Get Our Latest Report on KVUE
Kenvue Stock Performance
Shares of NYSE:KVUE opened at $17.77 on Thursday. Kenvue Inc. has a 12-month low of $14.02 and a 12-month high of $20.13. The company's 50 day moving average price is $19.13 and its two-hundred day moving average price is $18.25. The firm has a market cap of $34.12 billion, a PE ratio of 20.42, a PEG ratio of 1.64 and a beta of 0.46. The company has a quick ratio of 0.71, a current ratio of 1.01 and a debt-to-equity ratio of 0.67.
Kenvue (NYSE:KVUE - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.31 earnings per share for the quarter, missing analysts' consensus estimates of $0.32 by ($0.01). The business had revenue of $3.96 billion during the quarter, compared to analyst estimates of $3.97 billion. Kenvue had a net margin of 10.76% and a return on equity of 21.22%. The firm's quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.29 earnings per share. Equities research analysts predict that Kenvue Inc. will post 1.14 earnings per share for the current year.
Kenvue Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 26th. Shareholders of record on Wednesday, August 12th were paid a dividend of $0.21 per share. This is a boost from Kenvue's previous quarterly dividend of $0.21. The ex-dividend date was Wednesday, August 12th. This represents a $0.84 dividend on an annualized basis and a yield of 4.7%. Kenvue's dividend payout ratio is 96.55%.
About Kenvue
(
Free Report)
Kenvue Inc is a global consumer health company that develops, markets and sells products designed to support everyday health and personal care. Its portfolio spans over-the-counter medicines, skin health and beauty, essential health products, and baby and family care.
The company's brands include Tylenol, Motrin, Zyrtec and Benadryl in self-care; Neutrogena, Aveeno and Clean & Clear in skin health and beauty; Listerine in oral care; and Johnson's and Band-Aid in baby care and essential health.
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