Gateway Investment Advisers LLC Acquires New Shares in Kenvue Inc. (NYSE:KVUE)

Gateway Investment Advisers LLC purchased a new stake in Kenvue Inc. (NYSE:KVUE - Free Report) during the first quarter, according to the company in its most recent filing with the SEC. The firm purchased 227,719 shares of the company's stock, valued at approximately $5,461,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Butensky & Cohen Financial Security Inc. raised its stake in shares of Kenvue by 1.3% in the 1st quarter. Butensky & Cohen Financial Security Inc. now owns 207,142 shares of the company's stock valued at $4,967,000 after purchasing an additional 2,718 shares in the last quarter. Davis Capital Management increased its stake in Kenvue by 6.5% in the 1st quarter. Davis Capital Management now owns 35,022 shares of the company's stock valued at $840,000 after buying an additional 2,145 shares during the period. Northwest Financial Advisors acquired a new position in shares of Kenvue during the 1st quarter worth $220,000. Vest Financial LLC grew its stake in Kenvue by 6.8% in the 1st quarter. Vest Financial LLC now owns 2,638,279 shares of the company's stock valued at $63,266,000 after buying an additional 167,265 shares during the last quarter. Finally, LS Investment Advisors LLC grew its position in Kenvue by 2.3% in the 1st quarter. LS Investment Advisors LLC now owns 52,450 shares of the company's stock worth $1,258,000 after purchasing an additional 1,155 shares during the last quarter. 97.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

KVUE has been the subject of several recent analyst reports. UBS Group raised 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. Citigroup raised their target price on shares of Kenvue from $22.00 to $24.50 and gave the stock a "neutral" rating in a report on Friday, May 9th. Piper Sandler upped their price target on shares of Kenvue from $24.00 to $27.00 and gave the company an "overweight" rating in a report on Monday, February 24th. Barclays increased their target price on Kenvue from $22.00 to $23.00 and gave the stock an "equal weight" rating in a report on Monday, May 12th. Finally, Canaccord Genuity Group boosted their target price on Kenvue from $24.00 to $29.00 and gave the company a "buy" rating in a research note on Wednesday, March 5th. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $25.33.

Kenvue Stock Up 0.4%

Shares of KVUE stock traded up $0.08 during trading hours on Friday, reaching $21.73. The company had a trading volume of 9,670,463 shares, compared to its average volume of 16,355,525. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.00 and a quick ratio of 0.69. The company has a market cap of $41.69 billion, a price-to-earnings ratio of 41.00, a price-to-earnings-growth ratio of 2.62 and a beta of 0.98. The business has a fifty day simple moving average of $23.12 and a 200-day simple moving average of $22.58. Kenvue Inc. has a 12 month low of $17.67 and a 12 month high of $25.17.

Kenvue (NYSE:KVUE - Get Free Report) last released its quarterly earnings results 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. The business had revenue of $3.74 billion for 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 in the previous year, the company earned $0.28 earnings per share. On average, research analysts expect that Kenvue Inc. will post 1.14 earnings per share 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 given a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a dividend yield of 3.77%. The ex-dividend date was Wednesday, May 14th. Kenvue's dividend payout ratio is currently 149.09%.

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.