Frank Rimerman Advisors LLC Buys New Position in Kenvue Inc. (NYSE:KVUE)

Key Points

• Frank Rimerman Advisors LLC invested approximately $444,000 in Kenvue Inc., acquiring 18,533 shares in the 1st quarter.
• Kenvue recently announced a quarterly dividend of $0.2075, reflecting a 3.9% annualized yield and an increase from the previous $0.21 dividend.
• Kenvue's stock saw a 1.8% decline, with a current market cap of $41 billion and a P/E ratio of 28.88.

Frank Rimerman Advisors LLC bought a new position in shares of Kenvue Inc. (NYSE:KVUE - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 18,533 shares of the company's stock, valued at approximately $444,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. Pittenger & Anderson Inc. purchased a new position in Kenvue during the 1st quarter worth $30,000. TruNorth Capital Management LLC purchased a new position in Kenvue during the 1st quarter worth $36,000. Bank Julius Baer & Co. Ltd Zurich grew its position in Kenvue by 120.6% during 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 last quarter. Clarity Asset Management Inc. purchased a new position in Kenvue during the 4th quarter worth $45,000. Finally, Continuum Advisory LLC grew 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 purchasing an additional 1,864 shares during the last quarter. Hedge funds and other institutional investors own 97.64% of the company's stock.

Kenvue Price Performance

Shares of KVUE traded up $0.13 during mid-day trading on Friday, reaching $21.19. 7,311,644 shares of the company's stock were exchanged, compared to its average volume of 17,540,783. The company has a quick ratio of 0.68, a current ratio of 0.98 and a debt-to-equity ratio of 0.66. The company has a 50-day simple moving average of $21.55 and a two-hundred day simple moving average of $22.42. Kenvue Inc. has a 52-week low of $19.75 and a 52-week high of $25.17. The company has a market cap of $40.66 billion, a price-to-earnings ratio of 28.57, a PEG ratio of 3.12 and a beta of 0.83.

Kenvue (NYSE:KVUE - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.29 earnings per share for the quarter, topping analysts' consensus estimates of $0.28 by $0.01. The business had revenue of $3.84 billion during the quarter, compared to analysts' expectations of $3.94 billion. Kenvue had a net margin of 9.37% and a return on equity of 20.06%. The company's revenue was down 4.0% on a year-over-year basis. During the same period last year, the company posted $0.32 EPS. On average, sell-side analysts predict that Kenvue Inc. will post 1.14 EPS for the current fiscal year.

Kenvue Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 27th. Shareholders of record on Wednesday, August 13th will be issued a $0.2075 dividend. This is a boost from Kenvue's previous quarterly dividend of $0.21. The ex-dividend date is Wednesday, August 13th. This represents a $0.83 annualized dividend and a yield of 3.9%. Kenvue's payout ratio is presently 112.16%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on KVUE shares. Zacks Research raised Kenvue to a "strong sell" rating in a report on Monday. Royal Bank Of Canada dropped their target price on Kenvue from $24.00 to $22.00 and set a "sector perform" rating on the stock in a report on Friday, August 8th. JPMorgan Chase & Co. lowered their price objective on Kenvue from $27.00 to $26.00 and set an "overweight" rating on the stock in a report on Friday, July 25th. Citigroup lowered their price objective on Kenvue from $24.50 to $22.00 and set a "neutral" rating on the stock in a report on Tuesday, July 15th. Finally, Canaccord Genuity Group lowered their price objective on Kenvue from $29.00 to $26.00 and set a "buy" rating on the stock in a report on Friday, August 8th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Kenvue presently has an average rating of "Hold" and a consensus price target of $24.38.

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.