DLK Investment Management LLC Purchases New Holdings in Kenvue Inc. (NYSE:KVUE)

DLK Investment Management LLC acquired a new stake in shares of Kenvue Inc. (NYSE:KVUE - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 170,966 shares of the company's stock, valued at approximately $4,100,000. Kenvue comprises 1.7% of DLK Investment Management LLC's portfolio, making the stock its 28th largest holding.

A number of other hedge funds also recently added to or reduced their stakes in KVUE. SRS Capital Advisors Inc. raised its stake 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 purchasing an additional 571 shares during the last quarter. Continuum Advisory LLC raised its position in Kenvue by 2,071.1% during the 1st quarter. Continuum Advisory LLC now owns 1,954 shares of the company's stock worth $47,000 after buying an additional 1,864 shares during the last quarter. Clarity Asset Management Inc. purchased a new position in Kenvue during the 4th quarter worth $45,000. SBI Securities Co. Ltd. purchased a new stake in shares of Kenvue in the fourth quarter valued at about $46,000. Finally, Golden State Wealth Management LLC increased its stake in shares of Kenvue by 292.0% during the first quarter. Golden State Wealth Management LLC now owns 3,081 shares of the company's stock worth $74,000 after acquiring an additional 2,295 shares during the period. 97.64% of the stock is owned by institutional investors and hedge funds.

Kenvue Price Performance

KVUE stock opened at $21.17 on Thursday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.60 and a current ratio of 0.86. Kenvue Inc. has a 1 year low of $17.67 and a 1 year high of $25.17. The stock has a 50-day simple moving average of $22.93 and a 200-day simple moving average of $22.39. The firm has a market cap of $40.62 billion, a P/E ratio of 38.49, a price-to-earnings-growth ratio of 3.29 and a beta of 0.98.

Kenvue (NYSE:KVUE - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported $0.24 earnings per share for the quarter, beating 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 business had revenue of $3.74 billion during the quarter, compared to the consensus estimate of $3.69 billion. During the same period in the prior year, the firm earned $0.28 earnings per share. The business's quarterly revenue was down 3.9% compared to the same quarter last year. On average, equities analysts predict that Kenvue Inc. will post 1.14 earnings per share for the current fiscal year.

Kenvue Announces Dividend

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 $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a yield of 3.87%. The ex-dividend date of this dividend was Wednesday, May 14th. Kenvue's dividend payout ratio is currently 149.09%.

Wall Street Analyst Weigh In

KVUE has been the topic of a number of recent analyst reports. Evercore ISI initiated coverage on shares of Kenvue in a research note on Monday, March 24th. They set an "in-line" rating and a $25.00 price target on the stock. UBS Group upped their target price on shares of Kenvue from $24.00 to $25.00 and gave the stock a "neutral" rating in a research report on Friday, May 9th. Citigroup reaffirmed a "neutral" rating on shares of Kenvue in a report on Friday, June 13th. Canaccord Genuity Group boosted their price target on Kenvue from $24.00 to $29.00 and gave the stock a "buy" rating in a research note on Wednesday, March 5th. Finally, Barclays upped their price target on Kenvue from $22.00 to $23.00 and gave the stock an "equal weight" rating in a report on Monday, May 12th. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $25.33.

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.

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