Gradient Investments LLC Has $13.99 Million Stake in Kenvue Inc. (NYSE:KVUE)

Gradient Investments LLC cut its holdings in shares of Kenvue Inc. (NYSE:KVUE - Free Report) by 2.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 583,270 shares of the company's stock after selling 15,256 shares during the period. Gradient Investments LLC's holdings in Kenvue were worth $13,987,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Principle Wealth Partners LLC lifted its position in shares of Kenvue by 3.7% in the 4th quarter. Principle Wealth Partners LLC now owns 14,194 shares of the company's stock valued at $303,000 after acquiring an additional 500 shares in the last quarter. White Pine Capital LLC lifted its position in shares of Kenvue by 1.0% in the 4th quarter. White Pine Capital LLC now owns 54,572 shares of the company's stock valued at $1,165,000 after acquiring an additional 542 shares in the last quarter. Deseret Mutual Benefit Administrators lifted its position in shares of Kenvue by 29.0% in the 4th quarter. Deseret Mutual Benefit Administrators now owns 2,528 shares of the company's stock valued at $54,000 after acquiring an additional 568 shares in the last quarter. SRS Capital Advisors Inc. increased its stake in Kenvue by 67.4% in the 4th quarter. SRS Capital Advisors Inc. now owns 1,418 shares of the company's stock valued at $30,000 after buying an additional 571 shares during the period. Finally, Keystone Financial Group increased its stake in Kenvue by 4.8% in the 4th quarter. Keystone Financial Group now owns 12,736 shares of the company's stock valued at $272,000 after buying an additional 578 shares during the period. 97.64% of the stock is owned by institutional investors and hedge funds.

Kenvue Stock Performance

KVUE stock remained flat at $21.68 during trading on Thursday. 8,332,628 shares of the company traded hands, compared to its average volume of 16,419,136. Kenvue Inc. has a 12-month low of $17.67 and a 12-month high of $25.17. The stock has a market cap of $41.60 billion, a PE ratio of 40.91, a price-to-earnings-growth ratio of 2.62 and a beta of 1.02. The stock has a 50 day moving average of $23.21 and a 200 day moving average of $22.62. 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 (NYSE:KVUE - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.01. The firm had revenue of $3.74 billion during the quarter, compared to the consensus estimate of $3.69 billion. Kenvue had a net margin of 6.66% and a return on equity of 20.97%. The firm's quarterly revenue was down 3.9% on a year-over-year basis. During the same period last year, the firm posted $0.28 EPS. As a group, analysts predict that Kenvue Inc. will post 1.14 earnings per share for the current fiscal year.

Kenvue Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 28th. Shareholders of record on Wednesday, May 14th were given a $0.205 dividend. This represents a $0.82 annualized dividend and a yield of 3.78%. The ex-dividend date of this dividend was Wednesday, May 14th. Kenvue's payout ratio is presently 149.09%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on KVUE shares. UBS Group upped their price objective on shares of Kenvue from $24.00 to $25.00 and gave the company a "neutral" rating in a research note on Friday, May 9th. Evercore ISI assumed coverage on shares of Kenvue in a research note on Monday, March 24th. They set an "in-line" rating and a $25.00 price target on the stock. Piper Sandler increased their price target on shares of Kenvue from $24.00 to $27.00 and gave the stock an "overweight" rating in a research note on Monday, February 24th. Citigroup increased their price target on shares of Kenvue from $22.00 to $24.50 and gave the stock a "neutral" rating in a research note on Friday, May 9th. Finally, Canaccord Genuity Group increased their price target on shares of Kenvue from $24.00 to $29.00 and gave the stock 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 issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $25.33.

Kenvue Company 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.