Neo Ivy Capital Management acquired a new position in shares of Kenvue Inc. (NYSE:KVUE - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 385,464 shares of the company's stock, valued at approximately $8,229,000. Kenvue makes up about 1.7% of Neo Ivy Capital Management's holdings, making the stock its 2nd largest position.
Several other hedge funds have also recently bought and sold shares of the company. Merit Financial Group LLC purchased a new stake in Kenvue in the fourth quarter valued at approximately $237,000. HB Wealth Management LLC lifted its stake in shares of Kenvue by 41.9% in the 4th quarter. HB Wealth Management LLC now owns 18,088 shares of the company's stock valued at $386,000 after purchasing an additional 5,343 shares in the last quarter. UMB Bank n.a. grew its holdings in shares of Kenvue by 184.3% during the 4th quarter. UMB Bank n.a. now owns 3,651 shares of the company's stock worth $78,000 after purchasing an additional 2,367 shares during the period. LaFleur & Godfrey LLC grew its holdings in shares of Kenvue by 29.8% during the 4th quarter. LaFleur & Godfrey LLC now owns 81,300 shares of the company's stock worth $1,736,000 after purchasing an additional 18,650 shares during the period. Finally, Atomi Financial Group Inc. increased its position in Kenvue by 28.1% during the 4th quarter. Atomi Financial Group Inc. now owns 11,730 shares of the company's stock worth $250,000 after purchasing an additional 2,571 shares in the last quarter. 97.64% of the stock is owned by hedge funds and other institutional investors.
Kenvue Stock Performance
KVUE traded down $0.38 during trading hours on Wednesday, hitting $23.56. 4,078,760 shares of the stock were exchanged, compared to its average volume of 16,302,945. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.00 and a quick ratio of 0.69. Kenvue Inc. has a 12 month low of $17.67 and a 12 month high of $25.17. The stock has a 50-day simple moving average of $23.25 and a 200-day simple moving average of $22.63. The stock has a market cap of $45.19 billion, a price-to-earnings ratio of 44.48, a price-to-earnings-growth ratio of 2.62 and a beta of 1.02.
Kenvue (NYSE:KVUE - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.23 by $0.01. Kenvue had a return on equity of 20.97% and a net margin of 6.66%. The company had revenue of $3.74 billion during the quarter, compared to analyst estimates of $3.69 billion. During the same period in the prior year, the company earned $0.28 earnings per share. The business's revenue was down 3.9% compared to the same quarter last year. Analysts anticipate that Kenvue Inc. will post 1.14 earnings per share for the current year.
Kenvue Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 28th. Shareholders of record on Wednesday, May 14th will be given a dividend of $0.205 per share. The ex-dividend date is Wednesday, May 14th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 3.48%. Kenvue's dividend payout ratio (DPR) is 149.09%.
Wall Street Analyst Weigh In
A number of equities analysts have recently commented on the stock. Citigroup raised their target price on shares of Kenvue from $22.00 to $24.50 and gave the company a "neutral" rating in a research note on Friday, May 9th. Canaccord Genuity Group boosted their price objective on Kenvue from $24.00 to $29.00 and gave the stock a "buy" rating in a research note on Wednesday, March 5th. Royal Bank of Canada restated a "sector perform" rating and issued a $24.00 price target on shares of Kenvue in a report on Monday, February 3rd. Piper Sandler raised their price target on shares of Kenvue from $24.00 to $27.00 and gave the company an "overweight" rating in a report on Monday, February 24th. Finally, UBS Group raised their target price on Kenvue from $24.00 to $25.00 and gave the company a "neutral" rating in a research note on Friday, May 9th. Seven 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 company presently has an average rating of "Hold" and a consensus target price of $25.33.
Check Out Our Latest Analysis on Kenvue
About Kenvue
(
Free Report)
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.
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