HF Advisory Group LLC Purchases 51,541 Shares of Kenvue Inc. (NYSE:KVUE)

HF Advisory Group LLC grew its position in shares of Kenvue Inc. (NYSE:KVUE - Free Report) by 194.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 78,028 shares of the company's stock after purchasing an additional 51,541 shares during the quarter. Kenvue makes up 1.1% of HF Advisory Group LLC's holdings, making the stock its 28th biggest holding. HF Advisory Group LLC's holdings in Kenvue were worth $1,680,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Empirical Finance LLC bought a new position in shares of Kenvue during the third quarter worth about $336,000. UniSuper Management Pty Ltd bought a new position in shares of Kenvue during the third quarter worth about $35,544,000. Howland Capital Management LLC bought a new position in shares of Kenvue during the third quarter worth about $7,764,000. Citizens Business Bank bought a new stake in Kenvue in the third quarter worth approximately $2,507,000. Finally, Fifth Third Bancorp increased its holdings in Kenvue by 35.3% in the fourth quarter. Fifth Third Bancorp now owns 277,580 shares of the company's stock worth $5,976,000 after purchasing an additional 72,435 shares in the last quarter. 97.64% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Royal Bank of Canada lowered their target price on Kenvue from $25.00 to $24.00 and set an "outperform" rating for the company in a report on Friday, February 9th. William Blair assumed coverage on Kenvue in a report on Wednesday, April 3rd. They issued a "market perform" rating for the company. Sanford C. Bernstein assumed coverage on Kenvue in a report on Thursday, April 11th. They issued an "underperform" rating and a $18.00 target price for the company. JPMorgan Chase & Co. lowered their target price on Kenvue from $25.00 to $24.00 and set an "overweight" rating for the company in a report on Friday, February 9th. Finally, The Goldman Sachs Group began coverage on Kenvue in a report on Friday, March 1st. They issued a "neutral" rating and a $20.00 target price for the company. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $24.85.

Kenvue Price Performance

Shares of NYSE:KVUE traded up $0.30 during mid-day trading on Thursday, hitting $19.58. 11,215,738 shares of the company traded hands, compared to its average volume of 16,705,357. The company has a quick ratio of 0.78, a current ratio of 1.12 and a debt-to-equity ratio of 0.69. Kenvue Inc. has a 12-month low of $17.82 and a 12-month high of $27.80. The stock has a 50-day moving average price of $19.83 and a two-hundred day moving average price of $20.17.

Kenvue (NYSE:KVUE - Get Free Report) last announced its earnings results on Thursday, February 8th. The company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.03. The company had revenue of $3.67 billion for the quarter, compared to analysts' expectations of $3.78 billion. Kenvue had a return on equity of 15.62% and a net margin of 9.87%. The business's revenue was down 2.7% on a year-over-year basis. On average, equities research analysts expect that Kenvue Inc. will post 1.15 EPS for the current year.

Kenvue Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 28th. Investors of record on Wednesday, February 14th were given a dividend of $0.20 per share. The ex-dividend date was Tuesday, February 13th. This represents a $0.80 annualized dividend and a dividend yield of 4.09%.

Kenvue Company 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.