Empower Advisory Group LLC Grows Stock Position in Kenvue Inc. (NYSE:KVUE)

Key Points

• Empower Advisory Group LLC increased its holdings in Kenvue Inc. by 6.8%, owning 2,413,175 shares valued at approximately $57.87 million as of the latest filing.
• Kenvue reported a quarterly earnings per share (EPS) of $0.24, surpassing analysts' expectations and showing a 3.9% decline in revenue year-over-year.
• The company also announced a dividend increase, with a quarterly dividend of $0.2075 per share, representing a 3.7% yield and indicating a positive change from the previous dividend amount.

Empower Advisory Group LLC lifted its holdings in shares of Kenvue Inc. (NYSE:KVUE - Free Report) by 6.8% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 2,413,175 shares of the company's stock after purchasing an additional 153,111 shares during the period. Empower Advisory Group LLC owned 0.13% of Kenvue worth $57,868,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in KVUE. Pittenger & Anderson Inc. acquired a new position in Kenvue in the first quarter valued at approximately $30,000. TruNorth Capital Management LLC bought a new stake in Kenvue during the 1st quarter worth approximately $36,000. Bank Julius Baer & Co. Ltd Zurich boosted its stake in Kenvue by 120.6% in the 1st quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,699 shares of the company's stock worth $41,000 after purchasing an additional 929 shares during the period. Clarity Asset Management Inc. acquired a new stake in Kenvue in the 4th quarter valued at approximately $45,000. Finally, Continuum Advisory LLC boosted its holdings in Kenvue by 2,071.1% during the first quarter. Continuum Advisory LLC now owns 1,954 shares of the company's stock worth $47,000 after purchasing an additional 1,864 shares during the last quarter. 97.64% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

KVUE has been the subject of a number of recent analyst reports. UBS Group cut their price target on shares of Kenvue from $25.00 to $23.00 and set a "neutral" rating for the company in a research note on Thursday, July 17th. Citigroup lowered their target price on shares of Kenvue from $24.50 to $22.00 and set a "neutral" rating on the stock in a report on Tuesday, July 15th. Bank of America cut their price objective on shares of Kenvue from $27.00 to $25.00 and set a "buy" rating for the company in a research report on Tuesday, July 15th. Barclays reduced their price objective on Kenvue from $23.00 to $22.00 and set an "equal weight" rating on the stock in a research note on Tuesday, July 15th. Finally, Redburn Atlantic started coverage on shares of Kenvue in a report on Thursday, April 10th. They issued a "neutral" rating and a $23.50 price objective for the company. Seven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Kenvue has an average rating of "Hold" and an average price target of $24.79.

Kenvue Stock Up 1.5%

KVUE stock traded up $0.33 during trading on Thursday, reaching $21.77. 30,407,519 shares of the stock were exchanged, compared to its average volume of 20,729,720. The firm has a market cap of $41.76 billion, a P/E ratio of 39.58, a price-to-earnings-growth ratio of 3.59 and a beta of 0.83. The firm's 50 day moving average is $21.67 and its 200 day moving average is $22.40. Kenvue Inc. has a twelve month low of $19.75 and a twelve month high of $25.17. The company has a current ratio of 0.86, a quick ratio of 0.60 and a debt-to-equity ratio of 0.63.

Kenvue (NYSE:KVUE - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.29 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.28 by $0.01. Kenvue had a return on equity of 20.87% and a net margin of 6.90%. The business had revenue of $3.84 billion during the quarter, compared to the consensus estimate of $3.94 billion. During the same quarter in the previous year, the business earned $0.32 EPS. The company's quarterly revenue was down 4.0% on a year-over-year basis. As a group, research analysts forecast that Kenvue Inc. will post 1.14 EPS for the current year.

Kenvue Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 27th. Investors of record on Wednesday, August 13th will be given a dividend of $0.2075 per share. The ex-dividend date is Wednesday, August 13th. This is an increase from Kenvue's previous quarterly dividend of $0.21. This represents a $0.83 annualized dividend and a yield of 3.8%. Kenvue's dividend payout ratio (DPR) is currently 149.09%.

Kenvue Profile

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.