Gradient Investments LLC Increases Stock Holdings in Kenvue Inc. (NYSE:KVUE)

Gradient Investments LLC lifted its position in shares of Kenvue Inc. (NYSE:KVUE - Free Report) by 8.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 808,767 shares of the company's stock after purchasing an additional 65,368 shares during the period. Gradient Investments LLC's holdings in Kenvue were worth $17,356,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Commonwealth Equity Services LLC purchased a new stake in shares of Kenvue during the third quarter valued at approximately $5,053,000. Cambridge Investment Research Advisors Inc. bought a new stake in shares of Kenvue during the 3rd quarter worth $1,809,000. Kingswood Wealth Advisors LLC purchased a new position in shares of Kenvue in the 3rd quarter worth about $215,000. FinTrust Capital Advisors LLC purchased a new position in shares of Kenvue in the 3rd quarter worth about $66,000. Finally, Raymond James & Associates increased its holdings in Kenvue by 635.4% during the third quarter. Raymond James & Associates now owns 2,653,777 shares of the company's stock worth $53,288,000 after buying an additional 2,292,926 shares during the last quarter. 97.64% of the stock is currently owned by hedge funds and other institutional investors.

Kenvue Price Performance

NYSE:KVUE traded up $0.08 during mid-day trading on Friday, hitting $19.20. 15,941,057 shares of the stock traded hands, compared to its average volume of 15,351,688. The business's 50-day moving average price is $19.82 and its 200 day moving average price is $20.12. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.12 and a quick ratio of 0.78. Kenvue Inc. has a 12-month low of $17.82 and a 12-month high of $27.80.

Kenvue (NYSE:KVUE - Get Free Report) last released its quarterly earnings results on Thursday, February 8th. The company reported $0.31 EPS for the quarter, beating analysts' consensus estimates of $0.28 by $0.03. Kenvue had a net margin of 9.87% and a return on equity of 15.62%. The firm had revenue of $3.67 billion during the quarter, compared to analyst estimates of $3.78 billion. Kenvue's revenue for the quarter was down 2.7% compared to the same quarter last year. Research analysts predict that Kenvue Inc. will post 1.15 EPS for the current fiscal year.

Kenvue Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Wednesday, May 8th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, May 7th. This represents a $0.80 annualized dividend and a dividend yield of 4.17%.

Analyst Ratings Changes

KVUE has been the topic of a number of research analyst reports. The Goldman Sachs Group began coverage on shares of Kenvue in a research note on Friday, March 1st. They issued a "neutral" rating and a $20.00 target price on the stock. Sanford C. Bernstein started coverage on Kenvue in a research report on Thursday, April 11th. They issued an "underperform" rating and a $18.00 target price for the company. William Blair began coverage on Kenvue in a research report on Wednesday, April 3rd. They set a "market perform" rating on the stock. Royal Bank of Canada decreased their price objective on Kenvue from $25.00 to $24.00 and set an "outperform" rating for the company in a report on Friday, February 9th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Kenvue from $25.00 to $24.00 and set an "overweight" rating on the stock in a report on Friday, February 9th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $24.85.

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.

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