Wealth Effects LLC Invests $3.38 Million in Kenvue Inc. $KVUE

Key Points

• Wealth Effects LLC purchased 177,130 Kenvue shares worth approximately $3.385 million, making KVUE 0.9% of its portfolio and its 23rd-largest position. Institutional investors and hedge funds collectively own 97.64% of the stock.
• Kenvue’s latest quarterly results slightly missed expectations, with EPS of $0.31 versus $0.32 expected and revenue of $3.96 billion versus $3.97 billion forecast. Revenue nevertheless increased 3% year over year.
• The company’s quarterly dividend is $0.21 per share, equivalent to an annualized $0.84 and a 4.4% yield. Analysts maintain a consensus “Hold” rating, with an average price target of $19.27.

Wealth Effects LLC purchased a new position in shares of Kenvue Inc. (NYSE:KVUE - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 177,130 shares of the company's stock, valued at approximately $3,385,000. Kenvue makes up 0.9% of Wealth Effects LLC's investment portfolio, making the stock its 23rd biggest position.

Several other hedge funds have also recently added to or reduced their stakes in the company. CoreCap Advisors LLC grew its holdings in shares of Kenvue by 64.9% during the second quarter. CoreCap Advisors LLC now owns 1,502 shares of the company's stock worth $29,000 after buying an additional 591 shares in the last quarter. Elyxium Wealth LLC acquired a new stake in shares of Kenvue in the fourth quarter valued at about $26,000. Physician Wealth Advisors Inc. raised its position in shares of Kenvue by 67.5% in the fourth quarter. Physician Wealth Advisors Inc. now owns 1,533 shares of the company's stock valued at $26,000 after buying an additional 618 shares during the last quarter. MV Capital Management Inc. purchased a new position in shares of Kenvue in the fourth quarter worth about $28,000. Finally, Reflection Asset Management purchased a new position in shares of Kenvue in the fourth quarter worth about $32,000. 97.64% of the stock is owned by institutional investors and hedge funds.

Kenvue Stock Performance

NYSE KVUE opened at $19.20 on Monday. The stock has a fifty day simple moving average of $18.95 and a 200-day simple moving average of $18.14. The company has a current ratio of 1.01, a quick ratio of 0.71 and a debt-to-equity ratio of 0.67. The stock has a market cap of $36.87 billion, a PE ratio of 22.06, a P/E/G ratio of 1.37 and a beta of 0.47. Kenvue Inc. has a twelve month low of $14.02 and a twelve month high of $21.84.

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

Kenvue Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Wednesday, August 12th will be issued a $0.21 dividend. The ex-dividend date is Wednesday, August 12th. This represents a $0.84 annualized dividend and a dividend yield of 4.4%. This is an increase from Kenvue's previous quarterly dividend of $0.21. Kenvue's dividend payout ratio (DPR) is currently 96.55%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on KVUE shares. Wall Street Zen cut shares of Kenvue from a "buy" rating to a "hold" rating in a research note on Saturday, August 8th. Barclays raised their target price 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. UBS Group lowered their target price on Kenvue from $20.00 to $19.00 and set a "neutral" rating on the stock in a report on Tuesday, August 11th. Weiss Ratings upgraded Kenvue from a "hold (c-)" rating to a "hold (c)" rating in a research report on Monday, June 15th. Finally, Zacks Research cut Kenvue from a "strong-buy" rating to a "hold" rating in a 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. According to data from MarketBeat, Kenvue currently has a consensus rating of "Hold" and an average target price 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.

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