Frank Rimerman Advisors LLC Acquires Shares of 18,533 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 stake in shares of Kenvue Inc. (NYSE:KVUE - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 18,533 shares of the company's stock, valued at approximately $444,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Pittenger & Anderson Inc. bought a new position in Kenvue in the 1st quarter valued at about $30,000. TruNorth Capital Management LLC purchased a new stake in shares of Kenvue in the first quarter worth approximately $36,000. Bank Julius Baer & Co. Ltd Zurich lifted its holdings in shares of Kenvue by 120.6% in the first quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,699 shares of the company's stock valued at $41,000 after purchasing an additional 929 shares in the last quarter. Clarity Asset Management Inc. purchased a new position in shares of Kenvue during the fourth quarter valued at approximately $45,000. Finally, Continuum Advisory LLC boosted its position in shares of Kenvue by 2,071.1% during the first quarter. Continuum Advisory LLC now owns 1,954 shares of the company's stock valued at $47,000 after buying an additional 1,864 shares during the last quarter. 97.64% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Royal Bank Of Canada lowered their price target on Kenvue from $24.00 to $22.00 and set a "sector perform" rating for the company in a research report on Friday, August 8th. Bank of America dropped their price target on shares of Kenvue from $27.00 to $25.00 and set a "buy" rating on the stock in a research report on Tuesday, July 15th. Canaccord Genuity Group reduced their price objective on shares of Kenvue from $29.00 to $26.00 and set a "buy" rating for the company in a research report on Friday, August 8th. Barclays decreased their price objective on shares of Kenvue from $23.00 to $22.00 and set an "equal weight" rating for the company in a research note on Tuesday, July 15th. Finally, Citigroup reduced their target price on shares of Kenvue from $24.50 to $22.00 and set a "neutral" rating for the company in a research report on Tuesday, July 15th. Seven 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.com, Kenvue currently has a consensus rating of "Hold" and a consensus target price of $24.38.

Kenvue Stock Down 3.0%

Shares of KVUE stock traded down $0.66 during mid-day trading on Thursday, reaching $21.06. 14,753,403 shares of the company's stock traded hands, compared to its average volume of 17,579,410. 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's 50-day moving average price is $21.56 and its 200-day moving average price is $22.42. The company has a market cap of $40.41 billion, a P/E ratio of 28.45, a P/E/G ratio of 3.15 and a beta of 0.83. Kenvue Inc. has a 12 month low of $19.75 and a 12 month high of $25.17.

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

Kenvue Increases Dividend

The firm also recently announced 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. This represents a $0.83 annualized dividend and a yield of 3.9%. This is a positive change from Kenvue's previous quarterly dividend of $0.21. The ex-dividend date is Wednesday, August 13th. Kenvue's dividend payout ratio (DPR) is presently 110.81%.

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.