Troy Asset Management Ltd Boosts Stock Position in Kenvue Inc. (NYSE:KVUE)

Troy Asset Management Ltd boosted its position in shares of Kenvue Inc. (NYSE:KVUE - Free Report) by 138.7% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,734,002 shares of the company's stock after buying an additional 1,007,482 shares during the quarter. Kenvue accounts for approximately 1.2% of Troy Asset Management Ltd's investment portfolio, making the stock its 22nd largest position. Troy Asset Management Ltd owned 0.09% of Kenvue worth $37,333,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of KVUE. Beaumont Financial Advisors LLC raised its holdings in shares of Kenvue by 3.0% in the fourth quarter. Beaumont Financial Advisors LLC now owns 17,532 shares of the company's stock valued at $377,000 after acquiring an additional 509 shares in the last quarter. Pinnacle Bancorp Inc. raised its holdings in shares of Kenvue by 51.3% in the fourth quarter. Pinnacle Bancorp Inc. now owns 1,552 shares of the company's stock valued at $33,000 after acquiring an additional 526 shares in the last quarter. Dfpg Investments LLC raised its holdings in shares of Kenvue by 2.3% in the fourth quarter. Dfpg Investments LLC now owns 26,659 shares of the company's stock valued at $567,000 after acquiring an additional 589 shares in the last quarter. Mutual Advisors LLC raised its holdings in shares of Kenvue by 6.1% in the fourth quarter. Mutual Advisors LLC now owns 10,606 shares of the company's stock valued at $228,000 after acquiring an additional 612 shares in the last quarter. Finally, Baron Wealth Management LLC raised its holdings in shares of Kenvue by 7.5% in the fourth quarter. Baron Wealth Management LLC now owns 12,915 shares of the company's stock valued at $278,000 after acquiring an additional 899 shares in the last quarter. 97.64% of the stock is owned by hedge funds and other institutional investors.

Kenvue Price Performance

KVUE remained flat at $20.54 during trading on Friday. The company's stock had a trading volume of 15,019,456 shares, compared to its average volume of 17,077,182. The stock's 50-day moving average price is $19.90 and its 200 day moving average price is $20.12. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.78 and a current ratio of 1.12. Kenvue Inc. has a one year low of $17.82 and a one year high of $27.80.

Kenvue (NYSE:KVUE - Get Free Report) last released its quarterly earnings results on Tuesday, May 7th. The company reported $0.28 earnings per share for the quarter, topping analysts' consensus estimates of $0.25 by $0.03. The company had revenue of $2.89 billion during the quarter, compared to analysts' expectations of $3.79 billion. Kenvue had a return on equity of 15.62% and a net margin of 9.87%. Kenvue's revenue for the quarter was down 24.9% on a year-over-year basis. Analysts anticipate that Kenvue Inc. will post 1.15 EPS for the current fiscal year.

Kenvue Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors of record on Wednesday, May 8th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 3.90%. The ex-dividend date of this dividend is Tuesday, May 7th.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on KVUE shares. Royal Bank of Canada reduced their target price on shares of Kenvue from $25.00 to $24.00 and set an "outperform" rating for the company in a report on Friday, February 9th. William Blair began coverage on shares of Kenvue in a report on Wednesday, April 3rd. They issued a "market perform" rating for the company. Sanford C. Bernstein began coverage on shares of Kenvue in a report on Thursday, April 11th. They set an "underperform" rating and a $18.00 price objective on the stock. HSBC upped their price objective on shares of Kenvue from $20.00 to $21.00 and gave the company a "hold" rating in a report on Wednesday. Finally, The Goldman Sachs Group began coverage on shares of Kenvue in a report on Friday, March 1st. They set a "neutral" rating and a $20.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, Kenvue has a consensus rating of "Hold" and a consensus target price of $24.38.

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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