Kenvue Inc. (NYSE:KVUE) Shares Bought by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC boosted its holdings in Kenvue Inc. (NYSE:KVUE - Free Report) by 154.2% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 60,130 shares of the company's stock after acquiring an additional 36,480 shares during the quarter. Exchange Traded Concepts LLC's holdings in Kenvue were worth $1,442,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Fulton Bank N.A. increased its stake in Kenvue by 0.6% in the 1st quarter. Fulton Bank N.A. now owns 78,888 shares of the company's stock valued at $1,892,000 after purchasing an additional 465 shares in the last quarter. Deseret Mutual Benefit Administrators increased its position in shares of Kenvue by 29.0% in the fourth quarter. Deseret Mutual Benefit Administrators now owns 2,528 shares of the company's stock valued at $54,000 after buying an additional 568 shares in the last quarter. SRS Capital Advisors Inc. raised its stake in shares of Kenvue by 67.4% during the 4th quarter. SRS Capital Advisors Inc. now owns 1,418 shares of the company's stock worth $30,000 after buying an additional 571 shares during the last quarter. Keystone Financial Group boosted its position in shares of Kenvue by 4.8% in the 4th quarter. Keystone Financial Group now owns 12,736 shares of the company's stock worth $272,000 after buying an additional 578 shares in the last quarter. Finally, First Horizon Advisors Inc. boosted its position in shares of Kenvue by 2.4% in the 4th quarter. First Horizon Advisors Inc. now owns 25,047 shares of the company's stock worth $535,000 after buying an additional 580 shares in the last quarter. Institutional investors and hedge funds own 97.64% of the company's stock.

Analyst Ratings Changes

A number of brokerages have issued reports on KVUE. Redburn Atlantic started coverage on shares of Kenvue in a research report on Thursday, April 10th. They set a "neutral" rating and a $23.50 target price for the company. Canaccord Genuity Group lifted their price objective on Kenvue from $24.00 to $29.00 and gave the stock a "buy" rating in a research report on Wednesday, March 5th. Evercore ISI assumed coverage on Kenvue in a report on Monday, March 24th. They set an "in-line" rating and a $25.00 target price on the stock. Citigroup reissued a "neutral" rating on shares of Kenvue in a report on Friday, June 13th. Finally, Piper Sandler upped their price objective on Kenvue from $24.00 to $27.00 and gave the company an "overweight" rating in a research report on Monday, February 24th. Seven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, Kenvue presently has a consensus rating of "Hold" and an average price target of $25.33.

Kenvue Trading Down 0.4%

NYSE KVUE traded down $0.10 during trading hours on Thursday, hitting $21.35. 14,259,336 shares of the company's stock were exchanged, compared to its average volume of 16,450,514. The business's 50 day moving average is $23.01 and its 200-day moving average is $22.45. 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 12-month low of $17.67 and a 12-month high of $25.17. The firm has a market capitalization of $40.95 billion, a P/E ratio of 38.81, a price-to-earnings-growth ratio of 3.33 and a beta of 0.98.

Kenvue (NYSE:KVUE - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.24 earnings per share for the quarter, topping 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 for the quarter, compared to analyst estimates of $3.69 billion. During the same period in the prior year, the firm posted $0.28 EPS. The company's revenue was down 3.9% on a year-over-year basis. As a group, analysts anticipate that Kenvue Inc. will post 1.14 EPS for the current fiscal year.

Kenvue Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 28th. Shareholders of record on Wednesday, May 14th were issued a $0.205 dividend. The ex-dividend date of this dividend was Wednesday, May 14th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 3.84%. Kenvue's dividend payout ratio (DPR) is presently 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.