Park Avenue Securities LLC Boosts Holdings in Kenvue Inc. (NYSE:KVUE)

Park Avenue Securities LLC boosted its holdings in shares of Kenvue Inc. (NYSE:KVUE - Free Report) by 14.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 264,991 shares of the company's stock after purchasing an additional 32,709 shares during the period. Park Avenue Securities LLC's holdings in Kenvue were worth $6,354,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in KVUE. SRS Capital Advisors Inc. raised its position in shares of Kenvue by 67.4% in the fourth quarter. SRS Capital Advisors Inc. now owns 1,418 shares of the company's stock worth $30,000 after acquiring an additional 571 shares during the period. Asset Planning Inc acquired a new position in shares of Kenvue in the fourth quarter worth about $42,000. Clarity Asset Management Inc. acquired a new position in shares of Kenvue in the fourth quarter worth about $45,000. SBI Securities Co. Ltd. acquired a new position in shares of Kenvue in the fourth quarter worth about $46,000. Finally, Deseret Mutual Benefit Administrators raised its position in shares of Kenvue by 29.0% in the fourth quarter. Deseret Mutual Benefit Administrators now owns 2,528 shares of the company's stock worth $54,000 after acquiring an additional 568 shares during the period. 97.64% of the stock is currently owned by institutional investors and hedge funds.

Kenvue Price Performance

NYSE KVUE traded up $0.33 during trading hours on Wednesday, hitting $21.85. 22,311,095 shares of the company's stock traded hands, compared to its average volume of 16,362,461. Kenvue Inc. has a 52-week low of $17.67 and a 52-week high of $25.17. The company has a market capitalization of $41.91 billion, a PE ratio of 41.22, a PEG ratio of 2.62 and a beta of 0.98. 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 firm's 50-day moving average is $23.03 and its 200-day moving average is $22.54.

Kenvue (NYSE:KVUE - Get Free Report) last announced its quarterly earnings data 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. Kenvue had a net margin of 6.66% and a return on equity of 20.97%. The company had revenue of $3.74 billion during the quarter, compared to analysts' expectations of $3.69 billion. During the same quarter in the prior year, the company earned $0.28 EPS. Kenvue's revenue was down 3.9% compared to the same quarter last year. Equities analysts forecast that Kenvue Inc. will post 1.14 EPS for the current fiscal year.

Kenvue Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 28th. Investors of record on Wednesday, May 14th were paid a dividend of $0.205 per share. The ex-dividend date was Wednesday, May 14th. This represents a $0.82 annualized dividend and a yield of 3.75%. Kenvue's dividend payout ratio is presently 149.09%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on KVUE. Piper Sandler upped their price objective on shares of Kenvue from $24.00 to $27.00 and gave the stock an "overweight" rating in a research report on Monday, February 24th. UBS Group upped their price objective on shares of Kenvue from $24.00 to $25.00 and gave the stock a "neutral" rating in a research report on Friday, May 9th. Canaccord Genuity Group boosted their target price 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. Evercore ISI initiated coverage on shares of Kenvue in a research note on Monday, March 24th. They set an "in-line" rating and a $25.00 target price for the company. Finally, Redburn Atlantic initiated coverage on shares of Kenvue in a research note on Thursday, April 10th. They set a "neutral" rating and a $23.50 target price for the company. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus 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.