Larson Financial Group LLC Boosts Stake in Kenvue Inc. (NYSE:KVUE)

Larson Financial Group LLC raised its stake in Kenvue Inc. (NYSE:KVUE - Free Report) by 50.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 34,608 shares of the company's stock after purchasing an additional 11,568 shares during the period. Larson Financial Group LLC's holdings in Kenvue were worth $830,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the business. Proficio Capital Partners LLC acquired a new position in Kenvue in the fourth quarter valued at approximately $1,643,000. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Kenvue by 5.9% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 20,852 shares of the company's stock valued at $445,000 after acquiring an additional 1,155 shares during the period. Commonwealth Equity Services LLC lifted its holdings in Kenvue by 5.7% in the fourth quarter. Commonwealth Equity Services LLC now owns 277,208 shares of the company's stock valued at $5,918,000 after acquiring an additional 14,882 shares during the period. Corient Private Wealth LLC lifted its holdings in Kenvue by 601.8% in the fourth quarter. Corient Private Wealth LLC now owns 339,848 shares of the company's stock valued at $7,256,000 after acquiring an additional 291,425 shares during the period. Finally, Parallel Advisors LLC increased its position in shares of Kenvue by 26.2% in the fourth quarter. Parallel Advisors LLC now owns 30,037 shares of the company's stock valued at $641,000 after buying an additional 6,238 shares in the last quarter. Institutional investors and hedge funds own 97.64% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on KVUE. Barclays dropped their price target on Kenvue from $23.00 to $22.00 and set an "equal weight" rating for the company in a research report on Tuesday. Evercore ISI began coverage on Kenvue in a report on Monday, March 24th. They set an "in-line" rating and a $25.00 price target for the company. Citigroup lowered their price target on Kenvue from $24.50 to $22.00 and set a "neutral" rating for the company in a report on Tuesday. Redburn Atlantic assumed coverage on Kenvue in a report on Thursday, April 10th. They set a "neutral" rating and a $23.50 price target for the company. Finally, Bank of America decreased their target price on Kenvue from $27.00 to $25.00 and set a "buy" rating on the stock in a research note on Tuesday. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, Kenvue presently has a consensus rating of "Hold" and a consensus target price of $24.71.

Kenvue Stock Performance

Shares of KVUE stock traded up $0.15 during midday trading on Friday, hitting $22.00. The company had a trading volume of 12,727,162 shares, compared to its average volume of 16,308,763. The company's 50 day simple moving average is $22.20 and its 200 day simple moving average is $22.30. Kenvue Inc. has a 52-week low of $17.85 and a 52-week high of $25.17. The stock has a market cap of $42.21 billion, a price-to-earnings ratio of 40.00, a PEG ratio of 3.41 and a beta of 0.83. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.86 and a quick ratio of 0.60.

Kenvue (NYSE:KVUE - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.01. The company had revenue of $3.74 billion for the quarter, compared to the consensus estimate of $3.69 billion. Kenvue had a return on equity of 20.87% and a net margin of 6.90%. The company's revenue was down 3.9% on a year-over-year basis. During the same period last year, the business posted $0.28 EPS. Research analysts anticipate that Kenvue Inc. will post 1.14 earnings per share for the current fiscal year.

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.