Trajan Wealth LLC Purchases New Position in Kenvue Inc. $KVUE

Trajan Wealth LLC acquired a new position in Kenvue Inc. (NYSE:KVUE - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 476,912 shares of the company's stock, valued at approximately $9,114,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Arrowstreet Capital Limited Partnership bought a new stake in shares of Kenvue in the 2nd quarter worth $6,528,000. Jump Financial LLC raised its stake in shares of Kenvue by 210.6% in the second quarter. Jump Financial LLC now owns 54,823 shares of the company's stock worth $1,147,000 after purchasing an additional 37,170 shares during the last quarter. AXA S.A. lifted its holdings in shares of Kenvue by 21.1% during the second quarter. AXA S.A. now owns 48,892 shares of the company's stock valued at $1,023,000 after purchasing an additional 8,524 shares in the last quarter. NewEdge Advisors LLC lifted its holdings in shares of Kenvue by 219.1% during the second quarter. NewEdge Advisors LLC now owns 97,481 shares of the company's stock valued at $2,040,000 after purchasing an additional 66,930 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in shares of Kenvue by 0.6% during the second quarter. The Manufacturers Life Insurance Company now owns 1,873,705 shares of the company's stock valued at $39,217,000 after buying an additional 10,885 shares during the last quarter. 97.64% of the stock is owned by institutional investors.

Kenvue Stock Performance

Shares of KVUE opened at $19.41 on Tuesday. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.01 and a quick ratio of 0.71. Kenvue Inc. has a one year low of $14.02 and a one year high of $21.63. The firm has a market capitalization of $37.27 billion, a P/E ratio of 22.30, a PEG ratio of 1.36 and a beta of 0.47. The business has a fifty day moving average of $19.08 and a 200 day moving average of $18.21.

Kenvue (NYSE:KVUE - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The company reported $0.31 EPS for the quarter, missing analysts' consensus estimates of $0.32 by ($0.01). The firm had revenue of $3.96 billion for the quarter, compared to analysts' expectations of $3.97 billion. Kenvue had a net margin of 10.76% and a return on equity of 21.22%. The firm's revenue was up 3.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.29 EPS. As a group, sell-side analysts anticipate that Kenvue Inc. will post 1.14 EPS for the current year.

Kenvue Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Wednesday, August 12th will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 4.3%. The ex-dividend date of this dividend is Wednesday, August 12th. This is an increase from Kenvue's previous quarterly dividend of $0.21. Kenvue's payout ratio is currently 96.55%.

Wall Street Analysts Forecast Growth

KVUE has been the subject of a number of recent analyst reports. UBS Group decreased their target price on Kenvue from $20.00 to $19.00 and set a "neutral" rating for the company in a research report on Tuesday, August 11th. Weiss Ratings raised shares of Kenvue from a "hold (c-)" rating to a "hold (c)" rating in a report on Monday, June 15th. Barclays lifted their price target on shares of Kenvue from $18.00 to $19.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 21st. Wall Street Zen cut shares of Kenvue from a "buy" rating to a "hold" rating in a report on Saturday, August 8th. Finally, Zacks Research downgraded shares of Kenvue from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, July 7th. Three analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company's stock. According to MarketBeat, Kenvue has an average rating of "Hold" and an average price target of $19.27.

Kenvue Company Profile

Kenvue is a consumer health company that was established as a standalone, publicly traded business after separating from Johnson & Johnson. Listed on the New York Stock Exchange under the symbol KVUE, Kenvue focuses on the development, manufacture, marketing and distribution of consumer health and personal care products across a range of categories including skin and beauty care, baby care, oral care, wound care and over‑the‑counter medicines.

The company owns and markets a portfolio of widely recognized consumer brands, including names familiar to global shoppers across retail and pharmacy channels.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source