Sunbelt Securities Inc. Increases Stake in Kenvue Inc. (NYSE:KVUE)

Sunbelt Securities Inc. grew its holdings in shares of Kenvue Inc. (NYSE:KVUE) by 31.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 22,413 shares of the company’s stock after purchasing an additional 5,391 shares during the quarter. Sunbelt Securities Inc.’s holdings in Kenvue were worth $481,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. Planned Solutions Inc. purchased a new stake in Kenvue during the 4th quarter valued at about $27,000. Pacific Capital Wealth Advisors Inc. purchased a new stake in shares of Kenvue in the fourth quarter valued at approximately $28,000. Mather Group LLC. acquired a new stake in shares of Kenvue in the first quarter valued at approximately $28,000. CVA Family Office LLC purchased a new position in Kenvue during the fourth quarter worth approximately $32,000. Finally, Pinnacle Bancorp Inc. boosted its stake in Kenvue by 51.3% during the fourth quarter. Pinnacle Bancorp Inc. now owns 1,552 shares of the company’s stock worth $33,000 after buying an additional 526 shares during the last quarter. Hedge funds and other institutional investors own 97.64% of the company’s stock.

Wall Street Analyst Weigh In

KVUE has been the topic of several analyst reports. Sanford C. Bernstein initiated coverage on Kenvue in a report on Thursday, April 11th. They set an “underperform” rating and a $18.00 price target on the stock. William Blair started coverage on shares of Kenvue in a report on Wednesday, April 3rd. They issued a “market perform” rating on the stock. Citigroup reissued a “neutral” rating and issued a $21.00 price target on shares of Kenvue in a research note on Tuesday, May 28th. The Goldman Sachs Group started coverage on shares of Kenvue in a research report on Friday, March 1st. They set a “neutral” rating and a $20.00 price target on the stock. Finally, HSBC increased their price objective on Kenvue from $20.00 to $21.00 and gave the stock a “hold” rating in a research report on Wednesday, May 8th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $23.09.

Kenvue Price Performance

KVUE opened at $18.59 on Thursday. The stock’s 50-day moving average price is $19.24 and its 200 day moving average price is $20.01. Kenvue Inc. has a 12-month low of $17.75 and a 12-month high of $26.66. The firm has a market cap of $35.60 billion and a price-to-earnings ratio of 23.83. The company has a current ratio of 0.99, a quick ratio of 0.68 and a debt-to-equity ratio of 0.66.

Kenvue (NYSE:KVUE) last issued its quarterly earnings results on Tuesday, May 7th. The company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.03. The business had revenue of $2.89 billion for the quarter, compared to analysts’ expectations of $3.79 billion. Kenvue had a net margin of 9.63% and a return on equity of 21.06%. The company’s quarterly revenue was down 24.9% compared to the same quarter last year. As a group, sell-side analysts expect that Kenvue Inc. will post 1.17 earnings per share for the current year.

Kenvue Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 22nd. Stockholders of record on Wednesday, May 8th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.30%. The ex-dividend date was Tuesday, May 7th. Kenvue’s dividend payout ratio is currently 102.56%.

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.