Wealth Enhancement Advisory Services LLC Raises Stock Position in Kenvue Inc. (NYSE:KVUE)

Wealth Enhancement Advisory Services LLC lifted its position in Kenvue Inc. (NYSE:KVUE - Free Report) by 2.7% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 620,052 shares of the company's stock after buying an additional 16,404 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Kenvue were worth $14,869,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. SRS Capital Advisors Inc. grew its position in shares of Kenvue by 67.4% in the 4th quarter. SRS Capital Advisors Inc. now owns 1,418 shares of the company's stock worth $30,000 after buying an additional 571 shares during the last quarter. Clarity Asset Management Inc. purchased a new stake in Kenvue during the 4th quarter worth approximately $45,000. SBI Securities Co. Ltd. purchased a new stake in Kenvue during the 4th quarter worth approximately $46,000. Deseret Mutual Benefit Administrators grew its position in Kenvue by 29.0% during the 4th quarter. Deseret Mutual Benefit Administrators now owns 2,528 shares of the company's stock worth $54,000 after purchasing an additional 568 shares during the last quarter. Finally, Versant Capital Management Inc grew its position in Kenvue by 77.9% during the 1st quarter. Versant Capital Management Inc now owns 3,415 shares of the company's stock worth $82,000 after purchasing an additional 1,495 shares during the last quarter. Hedge funds and other institutional investors own 97.64% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Canaccord Genuity Group boosted their target price on shares of Kenvue from $24.00 to $29.00 and gave the stock a "buy" rating in a research report on Wednesday, March 5th. Citigroup reissued a "neutral" rating on shares of Kenvue in a report on Friday, June 13th. Piper Sandler upped their target price on Kenvue from $24.00 to $27.00 and gave the company an "overweight" rating in a research report on Monday, February 24th. Barclays increased their price target on shares of Kenvue from $22.00 to $23.00 and gave the stock an "equal weight" rating in a report on Monday, May 12th. Finally, UBS Group lifted their price objective on shares of Kenvue from $24.00 to $25.00 and gave the company a "neutral" rating in a research note on Friday, May 9th. Seven investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Kenvue presently has an average rating of "Hold" and a consensus target price of $25.33.

Kenvue Stock Up 0.1%

NYSE:KVUE opened at $21.39 on Monday. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.86 and a quick ratio of 0.60. The company's fifty day moving average price is $22.99 and its 200-day moving average price is $22.40. Kenvue Inc. has a 1-year low of $17.67 and a 1-year high of $25.17. The firm has a market capitalization of $41.03 billion, a P/E ratio of 38.88, a PEG ratio of 3.32 and a beta of 0.98.

Kenvue (NYSE:KVUE - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.24 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.23 by $0.01. Kenvue had a net margin of 6.90% and a return on equity of 20.87%. The firm had revenue of $3.74 billion for the quarter, compared to the consensus estimate of $3.69 billion. During the same period in the prior year, the firm posted $0.28 earnings per share. The firm's quarterly revenue was down 3.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Kenvue Inc. will post 1.14 EPS for the current year.

Kenvue Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 28th. Investors of record on Wednesday, May 14th were issued a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a yield of 3.83%. The ex-dividend date of this dividend was Wednesday, May 14th. Kenvue's dividend payout ratio (DPR) is presently 149.09%.

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.

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