Simplicity Wealth LLC Purchases Shares of 24,210 Kenvue Inc. $KVUE

Key Points

• Simplicity Wealth LLC has acquired a new stake in Kenvue Inc., purchasing 24,210 shares valued at approximately $507,000 during the second quarter.
• Analysts have lowered their price targets for Kenvue, with Royal Bank of Canada cutting it from $24.00 to $22.00, as the stock currently holds an average rating of "Hold" and a consensus price target of $22.46.
• Kenvue recently increased its quarterly dividend to $0.2075 per share, which represents an annualized dividend of $0.83 and a yield of 5.1%.

Simplicity Wealth LLC purchased a new stake in Kenvue Inc. (NYSE:KVUE - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 24,210 shares of the company's stock, valued at approximately $507,000.

A number of other institutional investors have also recently bought and sold shares of KVUE. Vanguard Group Inc. lifted its stake in Kenvue by 4.9% in the first quarter. Vanguard Group Inc. now owns 229,144,387 shares of the company's stock valued at $5,494,882,000 after buying an additional 10,600,682 shares in the last quarter. Third Point LLC bought a new stake in shares of Kenvue in the first quarter worth $213,422,000. Maverick Capital Ltd. bought a new stake in shares of Kenvue in the first quarter worth $203,036,000. Nuveen LLC bought a new stake in shares of Kenvue in the first quarter worth $187,123,000. Finally, Voya Investment Management LLC lifted its position in shares of Kenvue by 131.3% in the first quarter. Voya Investment Management LLC now owns 12,131,468 shares of the company's stock worth $290,557,000 after purchasing an additional 6,886,784 shares in the last quarter. Institutional investors own 97.64% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. Royal Bank Of Canada cut their price objective on shares of Kenvue from $24.00 to $22.00 and set a "sector perform" rating on the stock in a research report on Friday, August 8th. UBS Group cut their price objective on shares of Kenvue from $25.00 to $23.00 and set a "neutral" rating on the stock in a research report on Thursday, July 17th. The Goldman Sachs Group cut their price objective on shares of Kenvue from $22.00 to $19.00 and set a "neutral" rating on the stock in a research report on Thursday, October 2nd. Rothschild & Co Redburn upgraded shares of Kenvue from a "neutral" rating to a "buy" rating and lowered their target price for the stock from $22.50 to $22.00 in a report on Friday, September 26th. Finally, Canaccord Genuity Group lowered their target price on shares of Kenvue from $29.00 to $26.00 and set a "buy" rating on the stock in a report on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $22.46.

Kenvue Price Performance

Shares of KVUE opened at $16.21 on Wednesday. The company has a market cap of $31.10 billion, a price-to-earnings ratio of 21.90, a PEG ratio of 2.25 and a beta of 0.72. Kenvue Inc. has a 1-year low of $15.47 and a 1-year high of $25.17. The company's fifty day simple moving average is $19.46 and its 200 day simple moving average is $21.46. The company has a current ratio of 0.98, a quick ratio of 0.68 and a debt-to-equity ratio of 0.66.

Kenvue (NYSE:KVUE - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.28 by $0.01. Kenvue had a net margin of 9.37% and a return on equity of 20.06%. The firm had revenue of $3.84 billion for the quarter, compared to the consensus estimate of $3.94 billion. During the same period in the previous year, the company earned $0.32 earnings per share. The company's quarterly revenue was down 4.0% on a year-over-year basis. Kenvue has set its FY 2025 guidance at 1.000-1.050 EPS. On average, research analysts forecast that Kenvue Inc. will post 1.14 earnings per share for the current fiscal year.

Kenvue Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 27th. Shareholders of record on Wednesday, August 13th were issued a $0.2075 dividend. This is an increase from Kenvue's previous quarterly dividend of $0.21. This represents a $0.83 annualized dividend and a dividend yield of 5.1%. The ex-dividend date was Wednesday, August 13th. Kenvue's dividend payout ratio is presently 112.16%.

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.

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