Viking Fund Management LLC Raises Holdings in Kenvue Inc. (NYSE:KVUE)

Viking Fund Management LLC lifted its holdings in shares of Kenvue Inc. (NYSE:KVUE - Free Report) by 33.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 400,000 shares of the company's stock after purchasing an additional 100,000 shares during the period. Kenvue comprises approximately 1.4% of Viking Fund Management LLC's investment portfolio, making the stock its 21st largest holding. Viking Fund Management LLC's holdings in Kenvue were worth $9,592,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Juncture Wealth Strategies LLC grew its holdings in Kenvue by 9.6% during the 1st quarter. Juncture Wealth Strategies LLC now owns 18,314 shares of the company's stock valued at $439,000 after buying an additional 1,601 shares in the last quarter. RFG Advisory LLC boosted its stake in Kenvue by 34.5% in the first quarter. RFG Advisory LLC now owns 20,386 shares of the company's stock worth $489,000 after buying an additional 5,233 shares in the last quarter. Fulton Bank N.A. grew its holdings in shares of Kenvue by 0.6% during the 1st quarter. Fulton Bank N.A. now owns 78,888 shares of the company's stock valued at $1,892,000 after purchasing an additional 465 shares during the last quarter. Merit Financial Group LLC increased its holdings in shares of Kenvue by 237.8% in the first quarter. Merit Financial Group LLC now owns 37,481 shares of the company's stock worth $899,000 after buying an additional 26,387 shares during the period. Finally, NBC Securities Inc. lifted its position in Kenvue by 89,208.3% in the first quarter. NBC Securities Inc. now owns 10,717 shares of the company's stock valued at $256,000 after purchasing an additional 10,705 shares during the last quarter. 97.64% of the stock is owned by institutional investors.

Kenvue Stock Down 0.2%

KVUE traded down $0.03 during midday trading on Thursday, reaching $21.65. The company's stock had a trading volume of 16,854,116 shares, compared to its average volume of 16,451,605. Kenvue Inc. has a 1 year low of $17.67 and a 1 year high of $25.17. The stock's 50-day moving average is $23.21 and its 200-day moving average is $22.62. The firm has a market capitalization of $41.53 billion, a price-to-earnings ratio of 40.84, a PEG ratio of 2.62 and a beta of 1.02. 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 (NYSE:KVUE - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.24 earnings per share for the quarter, topping 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 for the quarter, compared to the consensus estimate of $3.69 billion. During the same quarter in the prior year, the business posted $0.28 EPS. The firm's quarterly revenue was down 3.9% compared to the same quarter last year. As a group, research analysts expect that Kenvue Inc. will post 1.14 EPS for the current year.

Kenvue Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 28th. Stockholders of record on Wednesday, May 14th were issued a dividend of $0.205 per share. The ex-dividend date of this dividend was Wednesday, May 14th. This represents a $0.82 annualized dividend and a dividend yield of 3.79%. Kenvue's payout ratio is presently 149.09%.

Analysts Set New Price Targets

KVUE has been the topic of several research analyst reports. Evercore ISI began coverage on Kenvue in a research note on Monday, March 24th. They set an "in-line" rating and a $25.00 target price on the stock. Citigroup boosted their price objective on shares of Kenvue from $22.00 to $24.50 and gave the company a "neutral" rating in a research report on Friday, May 9th. UBS Group raised their target price on shares of Kenvue from $24.00 to $25.00 and gave the stock a "neutral" rating in a research report on Friday, May 9th. Barclays lifted their target price on shares of Kenvue from $22.00 to $23.00 and gave the company an "equal weight" rating in a research note on Monday, May 12th. Finally, Redburn Atlantic assumed coverage on shares of Kenvue in a research note on Thursday, April 10th. They issued a "neutral" rating and a $23.50 price target for the company. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Kenvue has a consensus rating of "Hold" and a consensus target price of $25.33.

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.