TrinityPoint Wealth LLC Grows Position in Kenvue Inc. (NYSE:KVUE)

TrinityPoint Wealth LLC lifted its position in Kenvue Inc. (NYSE:KVUE - Free Report) by 28.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 77,561 shares of the company's stock after acquiring an additional 17,071 shares during the quarter. TrinityPoint Wealth LLC's holdings in Kenvue were worth $1,656,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in KVUE. Starboard Value LP bought a new position in Kenvue in the fourth quarter worth about $467,864,000. Sender Co & Partners Inc. raised its holdings in Kenvue by 315.8% in the fourth quarter. Sender Co & Partners Inc. now owns 106,302 shares of the company's stock worth $2,270,000 after purchasing an additional 80,736 shares in the last quarter. Shell Asset Management Co. raised its holdings in Kenvue by 68.2% in the fourth quarter. Shell Asset Management Co. now owns 25,606 shares of the company's stock worth $547,000 after purchasing an additional 10,378 shares in the last quarter. Royal Bank of Canada raised its holdings in Kenvue by 12.8% in the fourth quarter. Royal Bank of Canada now owns 6,356,905 shares of the company's stock worth $135,721,000 after purchasing an additional 719,224 shares in the last quarter. Finally, Rafferty Asset Management LLC raised its holdings in Kenvue by 12.6% in the fourth quarter. Rafferty Asset Management LLC now owns 166,423 shares of the company's stock worth $3,553,000 after purchasing an additional 18,598 shares in the last quarter. 97.64% of the stock is currently owned by institutional investors.

Kenvue Stock Performance

NYSE KVUE traded down $0.14 during trading hours on Wednesday, reaching $24.00. The stock had a trading volume of 15,095,636 shares, compared to its average volume of 16,432,886. The stock has a fifty day moving average of $23.20 and a 200 day moving average of $22.61. The stock has a market cap of $46.04 billion, a P/E ratio of 45.27, a price-to-earnings-growth ratio of 2.62 and a beta of 1.02. Kenvue Inc. has a 52-week low of $17.67 and a 52-week high of $25.17. 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 issued its earnings results on Thursday, May 8th. The company reported $0.24 EPS for the quarter, beating analysts' consensus estimates of $0.23 by $0.01. The firm had revenue of $3.74 billion for the quarter, compared to analyst estimates of $3.69 billion. Kenvue had a return on equity of 20.97% and a net margin of 6.66%. Kenvue's revenue for the quarter was down 3.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.28 earnings per share. Sell-side analysts predict that Kenvue Inc. will post 1.14 earnings per share for the current year.

Kenvue Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 28th. Investors of record on Wednesday, May 14th will be given a $0.205 dividend. The ex-dividend date is Wednesday, May 14th. This represents a $0.82 dividend on an annualized basis and a yield of 3.42%. Kenvue's dividend payout ratio is currently 149.09%.

Wall Street Analyst Weigh In

A number of brokerages have commented on KVUE. Redburn Atlantic started coverage on shares of Kenvue in a report on Thursday, April 10th. They issued a "neutral" rating and a $23.50 target price for the company. Piper Sandler upped their price objective on shares of Kenvue from $24.00 to $27.00 and gave the company an "overweight" rating in a report on Monday, February 24th. 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 report on Friday, May 9th. Canaccord Genuity Group upped their price objective on shares of Kenvue from $24.00 to $29.00 and gave the company a "buy" rating in a report on Wednesday, March 5th. Finally, Royal Bank of Canada restated a "sector perform" rating and set a $24.00 price objective on shares of Kenvue in a report on Monday, February 3rd. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $25.33.

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.