Wills Financial Group LLC Invests $6.94 Million in Kenvue Inc. (NYSE:KVUE)

Key Points

• Wills Financial Group LLC invested approximately $6.94 million in Kenvue Inc. during the first quarter, acquiring 289,221 shares, which now represent about 3.1% of their total portfolio.
• Kenvue reported $0.24 EPS for the quarter, beating expectations, despite a year-over-year revenue decrease of 3.9% to $3.74 billion.
• The company announced an increase in its quarterly dividend to $0.2075 per share, resulting in an annualized dividend of $0.83 and a yield of 3.8%.

Wills Financial Group LLC purchased a new stake in Kenvue Inc. (NYSE:KVUE - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 289,221 shares of the company's stock, valued at approximately $6,936,000. Kenvue makes up approximately 3.1% of Wills Financial Group LLC's portfolio, making the stock its 10th largest position.

Other institutional investors have also recently added to or reduced their stakes in the company. Starboard Value LP acquired a new stake in shares of Kenvue during the 4th quarter valued at approximately $467,864,000. Price T Rowe Associates Inc. MD boosted its holdings in Kenvue by 3.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 245,885,918 shares of the company's stock worth $5,249,665,000 after purchasing an additional 8,211,748 shares during the period. Envestnet Asset Management Inc. increased its stake in Kenvue by 79.4% during the fourth quarter. Envestnet Asset Management Inc. now owns 10,224,056 shares of the company's stock valued at $218,284,000 after purchasing an additional 4,523,918 shares during the last quarter. Epoch Investment Partners Inc. bought a new stake in Kenvue during the fourth quarter valued at $66,916,000. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Kenvue by 19.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 18,924,179 shares of the company's stock worth $404,002,000 after purchasing an additional 3,025,924 shares during the period. 97.64% of the stock is owned by institutional investors and hedge funds.

Kenvue Stock Up 0.7%

Kenvue stock opened at $21.60 on Monday. Kenvue Inc. has a 52 week low of $18.10 and a 52 week high of $25.17. The stock has a market cap of $41.44 billion, a price-to-earnings ratio of 39.27, a PEG ratio of 3.62 and a beta of 0.83. The company's 50-day moving average price is $21.82 and its two-hundred day moving average price is $22.40. The company has a current ratio of 0.86, a quick ratio of 0.60 and a debt-to-equity ratio of 0.63.

Kenvue (NYSE:KVUE - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.01. Kenvue had a net margin of 6.90% and a return on equity of 20.87%. The business had revenue of $3.74 billion during the quarter, compared to analysts' expectations of $3.69 billion. During the same period last year, the firm posted $0.28 earnings per share. The business's revenue was down 3.9% on a year-over-year basis. On average, analysts expect that Kenvue Inc. will post 1.14 EPS for the current fiscal year.

Kenvue Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 27th. Stockholders of record on Wednesday, August 13th will be given a dividend of $0.2075 per share. This is a boost from Kenvue's previous quarterly dividend of $0.21. The ex-dividend date is Wednesday, August 13th. This represents a $0.83 annualized dividend and a dividend yield of 3.8%. Kenvue's payout ratio is 149.09%.

Analysts Set New Price Targets

KVUE has been the subject of several research reports. Citigroup decreased their price target on shares of Kenvue from $24.50 to $22.00 and set a "neutral" rating for the company in a report on Tuesday, July 15th. UBS Group dropped their price target on Kenvue from $25.00 to $23.00 and set a "neutral" rating on the stock in a research report on Thursday, July 17th. Redburn Atlantic initiated coverage on Kenvue in a report on Thursday, April 10th. They issued a "neutral" rating and a $23.50 price target on the stock. Bank of America lowered their price objective on Kenvue from $27.00 to $25.00 and set a "buy" rating for the company in a research note on Tuesday, July 15th. Finally, Barclays dropped their target price on Kenvue from $23.00 to $22.00 and set an "equal weight" rating on the stock in a research report on Tuesday, July 15th. Seven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, Kenvue has an average rating of "Hold" and a consensus price target of $24.79.

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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