Ferguson Wellman Capital Management Inc. Takes $853,000 Position in Kenvue Inc. (NYSE:KVUE)

Ferguson Wellman Capital Management Inc. acquired a new position in shares of Kenvue Inc. (NYSE:KVUE - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 35,570 shares of the company's stock, valued at approximately $853,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Handelsbanken Fonder AB grew its position in shares of Kenvue by 2.9% in the 4th quarter. Handelsbanken Fonder AB now owns 742,184 shares of the company's stock worth $15,846,000 after acquiring an additional 21,222 shares in the last quarter. Alberta Investment Management Corp raised its holdings in shares of Kenvue by 23.2% during the fourth quarter. Alberta Investment Management Corp now owns 582,895 shares of the company's stock worth $12,445,000 after purchasing an additional 109,700 shares during the period. Longbow Finance SA lifted its position in shares of Kenvue by 5.0% in the 4th quarter. Longbow Finance SA now owns 280,568 shares of the company's stock worth $5,990,000 after buying an additional 13,287 shares during the last quarter. Steward Partners Investment Advisory LLC boosted its holdings in shares of Kenvue by 143.1% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 47,938 shares of the company's stock valued at $1,023,000 after buying an additional 28,216 shares during the period. Finally, CORDA Investment Management LLC. grew its holdings in shares of Kenvue by 1.4% during the fourth quarter. CORDA Investment Management LLC. now owns 1,253,096 shares of the company's stock valued at $26,754,000 after purchasing an additional 17,466 shares during the last quarter. 97.64% of the stock is owned by institutional investors.

Kenvue Price Performance

Shares of NYSE:KVUE traded down $0.60 during trading hours on Friday, hitting $21.44. 37,242,399 shares of the company's stock traded hands, compared to its average volume of 16,485,322. The company's fifty day simple moving average is $23.02 and its two-hundred day simple moving average is $22.52. The company has a market cap of $41.14 billion, a price-to-earnings ratio of 40.46, a price-to-earnings-growth ratio of 2.62 and a beta of 0.98. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.69 and a current ratio of 1.00. Kenvue Inc. has a 52 week low of $17.67 and a 52 week high of $25.17.

Kenvue (NYSE:KVUE - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported $0.24 earnings per share for the quarter, topping analysts' consensus estimates of $0.23 by $0.01. The firm had revenue of $3.74 billion during the quarter, compared to analysts' expectations of $3.69 billion. Kenvue had a net margin of 6.66% and a return on equity of 20.97%. The firm's revenue for the quarter was down 3.9% compared to the same quarter last year. During the same period last year, the firm posted $0.28 earnings per share. As a group, equities analysts anticipate that Kenvue Inc. will post 1.14 EPS for the current fiscal year.

Kenvue Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 28th. Stockholders of record on Wednesday, May 14th were issued a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a dividend yield of 3.82%. The ex-dividend date of this dividend was Wednesday, May 14th. Kenvue's dividend payout ratio is 149.09%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. 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 target price for the company. Redburn Atlantic assumed coverage on Kenvue in a research report on Thursday, April 10th. They issued a "neutral" rating and a $23.50 target price on the stock. Citigroup boosted their price target on Kenvue from $22.00 to $24.50 and gave the stock a "neutral" rating in a research report on Friday, May 9th. Piper Sandler raised their price target on Kenvue from $24.00 to $27.00 and gave the company an "overweight" rating in a report on Monday, February 24th. Finally, UBS Group upped their price objective on shares of Kenvue from $24.00 to $25.00 and gave the stock a "neutral" rating in a report on Friday, May 9th. Seven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $25.33.

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.