Diversify Wealth Management LLC Buys New Stake in Kenvue Inc. $KVUE

Key Points

• Diversify Wealth Management opened a new position in Kenvue during Q1, buying 56,060 shares worth about $966,000.
• Institutional ownership is very high at 97.64%, with large investors like Vanguard, State Street, and Geode also adjusting their Kenvue stakes recently.
• Kenvue’s latest quarter beat estimates, posting EPS of $0.32 on revenue of $3.91 billion, while analysts currently rate the stock a Hold on average with a $19.33 target price.

Diversify Wealth Management LLC bought a new stake in Kenvue Inc. (NYSE:KVUE - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 56,060 shares of the company's stock, valued at approximately $966,000.

A number of other large investors also recently added to or reduced their stakes in KVUE. Vanguard Group Inc. raised its holdings in shares of Kenvue by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 234,951,484 shares of the company's stock valued at $4,052,913,000 after buying an additional 1,604,040 shares during the period. State Street Corp boosted its holdings in Kenvue by 3.5% during the 4th quarter. State Street Corp now owns 118,865,134 shares of the company's stock valued at $2,050,424,000 after acquiring an additional 4,063,257 shares during the period. Geode Capital Management LLC boosted its holdings in Kenvue by 0.8% during the 4th quarter. Geode Capital Management LLC now owns 49,862,574 shares of the company's stock valued at $856,778,000 after acquiring an additional 371,322 shares during the period. Independent Franchise Partners LLP grew its position in Kenvue by 56.3% in the 4th quarter. Independent Franchise Partners LLP now owns 48,146,476 shares of the company's stock valued at $830,527,000 after acquiring an additional 17,343,785 shares in the last quarter. Finally, Norges Bank acquired a new position in Kenvue in the 4th quarter valued at about $756,862,000. 97.64% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently issued reports on KVUE. Zacks Research cut shares of Kenvue from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, July 7th. Weiss Ratings upgraded shares of Kenvue from a "hold (c-)" rating to a "hold (c)" rating in a report on Monday, June 15th. Citigroup cut their target price on shares of Kenvue from $20.00 to $19.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 15th. Wall Street Zen upgraded shares of Kenvue to a "buy" rating in a report on Sunday. Finally, UBS Group decreased their price target on shares of Kenvue from $19.00 to $18.00 and set a "neutral" rating for the company in a research report on Tuesday, April 7th. Three research analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $19.33.

Insider Activity

In other news, General Counsel Matthew Orlando sold 38,491 shares of the company's stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $17.66, for a total transaction of $679,751.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.59% of the company's stock.

Kenvue Trading Down 0.3%

NYSE KVUE opened at $18.70 on Thursday. Kenvue Inc. has a 52 week low of $14.02 and a 52 week high of $22.87. The firm has a 50 day moving average of $18.14 and a two-hundred day moving average of $17.83. The company has a quick ratio of 0.70, a current ratio of 0.98 and a debt-to-equity ratio of 0.67. The stock has a market capitalization of $35.89 billion, a PE ratio of 21.99, a price-to-earnings-growth ratio of 1.42 and a beta of 0.47.

Kenvue (NYSE:KVUE - Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.32 earnings per share for the quarter, beating analysts' consensus estimates of $0.27 by $0.05. The business had revenue of $3.91 billion for the quarter, compared to analyst estimates of $3.84 billion. Kenvue had a net margin of 10.61% and a return on equity of 20.81%. The company's revenue was up 4.5% on a year-over-year basis. During the same period last year, the business earned $0.24 EPS. As a group, research analysts expect that Kenvue Inc. will post 1.16 EPS for the current fiscal year.

Kenvue Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 27th. Shareholders of record on Wednesday, May 13th were issued a dividend of $0.2075 per share. This represents a $0.83 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date of this dividend was Wednesday, May 13th. Kenvue's payout ratio is 97.65%.

Kenvue Company Profile

Kenvue is a consumer health company that was established as a standalone, publicly traded business after separating from Johnson & Johnson. Listed on the New York Stock Exchange under the symbol KVUE, Kenvue focuses on the development, manufacture, marketing and distribution of consumer health and personal care products across a range of categories including skin and beauty care, baby care, oral care, wound care and over‑the‑counter medicines.

The company owns and markets a portfolio of widely recognized consumer brands, including names familiar to global shoppers across retail and pharmacy channels.

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