Wealthfront Advisers LLC Raises Holdings in Kenvue Inc. (NYSE:KVUE)

Wealthfront Advisers LLC grew its holdings in shares of Kenvue Inc. (NYSE:KVUE - Free Report) by 114.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 54,233 shares of the company's stock after purchasing an additional 28,941 shares during the quarter. Wealthfront Advisers LLC's holdings in Kenvue were worth $1,301,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Pittenger & Anderson Inc. purchased a new position in Kenvue during the 1st quarter valued at about $30,000. TruNorth Capital Management LLC bought a new stake in Kenvue in the 1st quarter worth approximately $36,000. Clarity Asset Management Inc. bought a new stake in Kenvue in the fourth quarter valued at approximately $45,000. Continuum Advisory LLC lifted its position in Kenvue by 2,071.1% in the first quarter. Continuum Advisory LLC now owns 1,954 shares of the company's stock valued at $47,000 after purchasing an additional 1,864 shares during the last quarter. Finally, Rossby Financial LCC purchased a new position in shares of Kenvue during the first quarter valued at approximately $52,000. 97.64% of the stock is owned by hedge funds and other institutional investors.

Kenvue Price Performance

Shares of KVUE stock traded down $0.15 during trading hours on Wednesday, reaching $22.52. The company had a trading volume of 18,382,441 shares, compared to its average volume of 16,305,084. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.60 and a current ratio of 0.86. The stock has a fifty day moving average of $22.08 and a 200-day moving average of $22.32. The company has a market capitalization of $43.22 billion, a price-to-earnings ratio of 40.95, a PEG ratio of 3.78 and a beta of 0.83. Kenvue Inc. has a 12-month low of $17.85 and a 12-month high of $25.17.

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

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Barclays lowered their price target on Kenvue from $23.00 to $22.00 and set an "equal weight" rating on the stock in a report on Tuesday, July 15th. UBS Group cut their price target on Kenvue from $25.00 to $23.00 and set a "neutral" rating for the company in a report on Thursday, July 17th. Redburn Atlantic began coverage on Kenvue in a research note on Thursday, April 10th. They issued a "neutral" rating and a $23.50 price objective for the company. Bank of America reduced their price objective on Kenvue from $27.00 to $25.00 and set a "buy" rating on the stock in a report on Tuesday, July 15th. Finally, Citigroup dropped their target price on Kenvue from $24.50 to $22.00 and set a "neutral" rating on the stock in a research note on Tuesday, July 15th. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $24.71.

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.