Gabelli Funds LLC Takes Position in Kenvue Inc. $KVUE

Key Points

• Gabelli Funds LLC disclosed a new position in Kenvue, buying 423,285 shares valued at about $7.3 million in the fourth quarter.
• Kenvue’s latest quarterly results beat expectations, with EPS of $0.32 versus the $0.27 consensus and revenue of $3.91 billion, up 4.5% from a year ago.
• The company declared a quarterly dividend of $0.2075 per share, implying an annualized yield of about 4.8%, while analysts currently rate the stock a consensus Hold with a $19.33 price target.

Gabelli Funds LLC purchased a new stake in shares of Kenvue Inc. (NYSE:KVUE - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 423,285 shares of the company's stock, valued at approximately $7,302,000.

A number of other hedge funds also recently made changes to their positions in KVUE. Cornerstone Planning Group LLC increased its stake in shares of Kenvue by 705.2% during the third quarter. Cornerstone Planning Group LLC now owns 1,554 shares of the company's stock valued at $25,000 after acquiring an additional 1,361 shares during the period. Physician Wealth Advisors Inc. grew its position in Kenvue by 67.5% in the fourth quarter. Physician Wealth Advisors Inc. now owns 1,533 shares of the company's stock worth $26,000 after buying an additional 618 shares during the last quarter. Elyxium Wealth LLC acquired a new position in Kenvue in the fourth quarter worth approximately $26,000. Golden State Wealth Management LLC boosted its stake in Kenvue by 150.1% in the 3rd quarter. Golden State Wealth Management LLC now owns 1,983 shares of the company's stock worth $32,000 after purchasing an additional 1,190 shares during the period. Finally, SBI Securities Co. Ltd. boosted its stake in Kenvue by 82.4% in the 4th quarter. SBI Securities Co. Ltd. now owns 2,273 shares of the company's stock worth $39,000 after purchasing an additional 1,027 shares during the period. Institutional investors own 97.64% of the company's stock.

Analysts Set New Price Targets

KVUE has been the subject of a number of recent analyst reports. Weiss Ratings raised shares of Kenvue from a "hold (c-)" rating to a "hold (c)" rating in a research note on Friday, May 8th. Barclays decreased their target price on shares of Kenvue from $19.00 to $18.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 14th. UBS Group decreased their target price on shares of Kenvue from $19.00 to $18.00 and set a "neutral" rating for the company in a research note on Tuesday, April 7th. Argus raised shares of Kenvue to a "hold" rating in a research note on Friday, March 6th. Finally, Zacks Research raised shares of Kenvue from a "hold" rating to a "strong-buy" rating in a research note on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and twelve have issued a Hold rating to the stock. According to MarketBeat.com, Kenvue presently has an average rating of "Hold" and a consensus price target of $19.33.

Insider Buying and Selling at Kenvue

In related news, General Counsel Matthew Orlando sold 38,491 shares of the business's stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $17.66, for a total transaction of $679,751.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.59% of the stock is currently owned by company insiders.

Kenvue Stock Performance

NYSE KVUE opened at $17.33 on Thursday. The stock has a market cap of $33.27 billion, a P/E ratio of 20.38, a PEG ratio of 1.30 and a beta of 0.55. Kenvue Inc. has a twelve month low of $14.02 and a twelve month high of $24.35. The company has a quick ratio of 0.70, a current ratio of 0.98 and a debt-to-equity ratio of 0.67. The company's 50-day simple moving average is $17.42 and its 200 day simple moving average is $17.39.

Kenvue (NYSE:KVUE - Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.32 EPS for the quarter, beating analysts' consensus estimates of $0.27 by $0.05. Kenvue had a net margin of 10.61% and a return on equity of 20.81%. The firm had revenue of $3.91 billion for the quarter, compared to analyst estimates of $3.84 billion. During the same period in the previous year, the business earned $0.24 earnings per share. The company's revenue for the quarter was up 4.5% compared to the same quarter last year. As a group, research analysts forecast that Kenvue Inc. will post 1.16 earnings per share for the current fiscal year.

Kenvue Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 27th. Investors of record on Wednesday, May 13th will be paid a dividend of $0.2075 per share. This represents a $0.83 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date of this dividend is Wednesday, May 13th. Kenvue's payout ratio is 97.65%.

Kenvue Company Profile

Kenvue is a consumer health company that was established as a standalone, publicly traded business after separating from Johnson & Johnson. Listed on the New York Stock Exchange under the symbol KVUE, Kenvue focuses on the development, manufacture, marketing and distribution of consumer health and personal care products across a range of categories including skin and beauty care, baby care, oral care, wound care and over‑the‑counter medicines.

The company owns and markets a portfolio of widely recognized consumer brands, including names familiar to global shoppers across retail and pharmacy channels.

Want to see what other hedge funds are holding KVUE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Kenvue Inc. (NYSE:KVUE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.