Rovin Capital UT ADV Takes $419,000 Position in Kenvue Inc. (NYSE:KVUE)

Rovin Capital UT ADV purchased a new stake in shares of Kenvue Inc. (NYSE:KVUE - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The fund purchased 17,491 shares of the company's stock, valued at approximately $419,000.

A number of other institutional investors have also added to or reduced their stakes in the stock. LaFleur & Godfrey LLC increased its holdings in Kenvue by 29.8% in 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 in the last quarter. IFP Advisors Inc increased its stake in shares of Kenvue by 168.4% in the fourth quarter. IFP Advisors Inc now owns 12,197 shares of the company's stock valued at $263,000 after buying an additional 7,652 shares during the period. Proficio Capital Partners LLC bought a new position in Kenvue in the 4th quarter valued at approximately $1,643,000. Versor Investments LP bought a new position in Kenvue in the 4th quarter valued at approximately $333,000. Finally, QRG Capital Management Inc. acquired a new stake in Kenvue during the 4th quarter worth approximately $218,000. 97.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on KVUE. UBS Group upped their price target on shares of Kenvue from $24.00 to $25.00 and gave the company a "neutral" rating in a research report on Friday, May 9th. Citigroup reissued a "neutral" rating on shares of Kenvue in a research note on Friday, June 13th. Canaccord Genuity Group increased their price objective on Kenvue from $24.00 to $29.00 and gave the company a "buy" rating in a report on Wednesday, March 5th. Barclays lifted their target price on Kenvue from $22.00 to $23.00 and gave the stock an "equal weight" rating in a report on Monday, May 12th. Finally, Evercore ISI started coverage on Kenvue in a research report on Monday, March 24th. They issued an "in-line" rating and a $25.00 price target on the stock. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Kenvue presently has an average rating of "Hold" and a consensus target price of $25.33.

Kenvue Trading Down 0.4%

Kenvue stock traded down $0.08 during trading hours on Wednesday, reaching $20.89. 18,186,686 shares of the company's stock were exchanged, compared to its average volume of 16,124,617. The firm's 50 day simple moving average is $22.69 and its 200 day simple moving average is $22.33. Kenvue Inc. has a twelve month low of $17.67 and a twelve month high of $25.17. The company has a quick ratio of 0.60, a current ratio of 0.86 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $40.08 billion, a PE ratio of 37.98, a PEG ratio of 3.26 and a beta of 0.83.

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

Kenvue Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 28th. Stockholders of record on Wednesday, May 14th were given a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a dividend yield of 3.93%. The ex-dividend date was Wednesday, May 14th. Kenvue's dividend payout ratio (DPR) is 149.09%.

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.