Brooklyn FI LLC Takes Position in Kenvue Inc. (NYSE:KVUE)

Brooklyn FI LLC acquired a new stake in shares of Kenvue Inc. (NYSE:KVUE - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 41,824 shares of the company's stock, valued at approximately $948,000.

Several other hedge funds have also added to or reduced their stakes in the stock. Geneos Wealth Management Inc. bought a new position in Kenvue during the fourth quarter valued at approximately $29,000. SRS Capital Advisors Inc. increased its position 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 acquiring an additional 571 shares during the last quarter. Asset Planning Inc bought a new position in Kenvue in the fourth quarter valued at about $42,000. Clarity Asset Management Inc. bought a new position in Kenvue in the fourth quarter valued at about $45,000. Finally, SBI Securities Co. Ltd. purchased a new position in Kenvue in the fourth quarter worth about $46,000. 97.64% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $24.00 price target on shares of Kenvue in a research report on Monday, February 3rd. Barclays upped their target price on shares of Kenvue from $22.00 to $23.00 and gave the company an "equal weight" rating in a report on Monday, May 12th. Piper Sandler lifted their price target on shares of Kenvue from $24.00 to $27.00 and gave the stock an "overweight" rating in a research note on Monday, February 24th. Evercore ISI began coverage on Kenvue in a research note on Monday, March 24th. They issued an "in-line" rating and a $25.00 price objective for the company. Finally, UBS Group raised their target price on Kenvue from $24.00 to $25.00 and gave the stock a "neutral" rating in a report on Friday, May 9th. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $25.33.

Kenvue Price Performance

Kenvue stock traded up $0.28 during mid-day trading on Friday, hitting $23.86. The stock had a trading volume of 30,016,864 shares, compared to its average volume of 16,407,311. Kenvue Inc. has a one year low of $17.67 and a one year high of $25.17. 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 $45.78 billion, a P/E ratio of 45.02, a P/E/G ratio of 2.62 and a beta of 1.02. The firm's 50 day moving average is $23.27 and its 200 day moving average is $22.64.

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

Kenvue Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 28th. Shareholders of record on Wednesday, May 14th were paid a $0.205 dividend. The ex-dividend date of this dividend was Wednesday, May 14th. This represents a $0.82 annualized dividend and a yield of 3.44%. Kenvue's payout ratio is 149.09%.

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.