NorthRock Partners LLC Increases Position in Kenvue Inc. (NYSE:KVUE)

NorthRock Partners LLC grew its stake in shares of Kenvue Inc. (NYSE:KVUE - Free Report) by 149.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 29,421 shares of the company's stock after buying an additional 17,629 shares during the period. NorthRock Partners LLC's holdings in Kenvue were worth $628,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of KVUE. Wedmont Private Capital increased its position in Kenvue by 11.5% during the fourth quarter. Wedmont Private Capital now owns 13,044 shares of the company's stock worth $272,000 after buying an additional 1,344 shares in the last quarter. Pines Wealth Management LLC acquired a new stake in Kenvue during the fourth quarter worth approximately $237,000. Oak Thistle LLC grew its stake in Kenvue by 13.9% in the 4th quarter. Oak Thistle LLC now owns 31,150 shares of the company's stock worth $665,000 after acquiring an additional 3,803 shares during the period. Assenagon Asset Management S.A. raised its holdings in Kenvue by 270.8% in the 4th quarter. Assenagon Asset Management S.A. now owns 843,901 shares of the company's stock valued at $18,017,000 after acquiring an additional 616,292 shares during the last quarter. Finally, Park Avenue Securities LLC lifted its stake in shares of Kenvue by 860.2% during the 4th quarter. Park Avenue Securities LLC now owns 232,282 shares of the company's stock worth $4,959,000 after purchasing an additional 208,092 shares during the period. Hedge funds and other institutional investors own 97.64% of the company's stock.

Analyst Ratings Changes

A number of brokerages have issued reports on KVUE. Redburn Atlantic began coverage on Kenvue in a research note on Thursday, April 10th. They issued a "neutral" rating and a $23.50 price target on the stock. Citigroup raised their target price on shares of Kenvue from $22.00 to $24.50 and gave the stock a "neutral" rating in a research report on Friday, May 9th. UBS Group increased their price target on shares of Kenvue from $24.00 to $25.00 and gave the stock a "neutral" rating in a research note on Friday, May 9th. Barclays lifted their price target on shares of Kenvue from $22.00 to $23.00 and gave the company an "equal weight" rating in a report on Monday, May 12th. Finally, Canaccord Genuity Group lifted their price target on shares of Kenvue from $24.00 to $29.00 and gave the company a "buy" rating in a report on Wednesday, March 5th. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $25.33.

Kenvue Stock Down 0.8%

NYSE:KVUE traded down $0.19 during mid-day trading on Monday, hitting $23.99. The company had a trading volume of 22,179,978 shares, compared to its average volume of 16,516,745. The business has a fifty day simple moving average of $23.16 and a 200-day simple moving average of $22.59. 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 Inc. has a 1 year low of $17.67 and a 1 year high of $25.17. The firm has a market capitalization of $46.03 billion, a price-to-earnings ratio of 45.26, a PEG ratio of 2.62 and a beta of 1.02.

Kenvue (NYSE:KVUE - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.24 EPS for the quarter, beating 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 analyst estimates of $3.69 billion. During the same period last year, the company posted $0.28 earnings per share. The firm's revenue was down 3.9% compared to the same quarter last year. Equities analysts forecast that Kenvue Inc. will post 1.14 earnings per share for the current fiscal year.

Kenvue Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 28th. Stockholders of record on Wednesday, May 14th will be given a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a dividend yield of 3.42%. The ex-dividend date of this dividend is Wednesday, May 14th. Kenvue's payout ratio is 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.