Neo Ivy Capital Management Makes New Investment in Kenvue Inc. (NYSE:KVUE)

Neo Ivy Capital Management acquired a new position in shares of Kenvue Inc. (NYSE:KVUE - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 385,464 shares of the company's stock, valued at approximately $8,229,000. Kenvue accounts for about 1.7% of Neo Ivy Capital Management's portfolio, making the stock its 2nd biggest position.

Other hedge funds also recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. acquired a new position in Kenvue during the 4th quarter worth approximately $29,000. SRS Capital Advisors Inc. grew its holdings in Kenvue by 67.4% during 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 purchased a new position in Kenvue in the fourth quarter worth $42,000. Clarity Asset Management Inc. acquired a new stake in Kenvue in the fourth quarter valued at $45,000. Finally, SBI Securities Co. Ltd. purchased a new stake in shares of Kenvue during the 4th quarter worth $46,000. 97.64% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Citigroup increased their price target on shares of Kenvue from $22.00 to $24.50 and gave the company a "neutral" rating in a report on Friday, May 9th. Piper Sandler increased their target price on shares of Kenvue from $24.00 to $27.00 and gave the company an "overweight" rating in a report on Monday, February 24th. Redburn Atlantic initiated coverage on shares of Kenvue in a research report on Thursday, April 10th. They set a "neutral" rating and a $23.50 price target for the company. UBS Group upped their price target on Kenvue from $24.00 to $25.00 and gave the stock a "neutral" rating in a report on Friday, May 9th. Finally, Canaccord Genuity Group raised their price objective on Kenvue from $24.00 to $29.00 and gave the company a "buy" rating in a research note on Wednesday, March 5th. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $25.33.

Kenvue Price Performance

Shares of NYSE KVUE traded up $0.26 during trading on Monday, reaching $23.76. The company had a trading volume of 10,164,041 shares, compared to its average volume of 16,369,512. The company has a current ratio of 1.00, a quick ratio of 0.69 and a debt-to-equity ratio of 0.66. Kenvue Inc. has a twelve month low of $17.67 and a twelve month high of $25.17. The stock has a 50-day moving average price of $23.23 and a two-hundred day moving average price of $22.62. The stock has a market capitalization of $45.59 billion, a PE ratio of 44.83, a price-to-earnings-growth ratio of 2.62 and a beta of 1.02.

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. Kenvue had a net margin of 6.66% and a return on equity of 20.97%. The firm had revenue of $3.74 billion during the quarter, compared to the consensus estimate of $3.69 billion. During the same quarter in the previous year, the company posted $0.28 EPS. The firm's revenue for the quarter was down 3.9% on a year-over-year basis. As a group, sell-side analysts predict that Kenvue Inc. will post 1.14 earnings per share for the current year.

Kenvue Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 28th. Investors of record on Wednesday, May 14th will be paid a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a dividend yield of 3.45%. The ex-dividend date is Wednesday, May 14th. Kenvue's payout ratio is 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.