Park Place Capital Corp Purchases 2,585 Shares of Kenvue Inc. (NYSE:KVUE)

Park Place Capital Corp raised its stake in Kenvue Inc. (NYSE:KVUE) by 18.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,656 shares of the company’s stock after acquiring an additional 2,585 shares during the period. Park Place Capital Corp’s holdings in Kenvue were worth $357,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of KVUE. Wolff Wiese Magana LLC boosted its holdings in Kenvue by 41.2% in the first quarter. Wolff Wiese Magana LLC now owns 76,462 shares of the company’s stock valued at $1,641,000 after acquiring an additional 22,307 shares during the last quarter. Aviance Capital Partners LLC bought a new stake in shares of Kenvue in the 1st quarter worth $230,000. Citizens Business Bank boosted its stake in shares of Kenvue by 3.3% in the 1st quarter. Citizens Business Bank now owns 124,139 shares of the company’s stock worth $2,664,000 after buying an additional 3,943 shares during the last quarter. Cornerstone Wealth Group LLC increased its position in shares of Kenvue by 176.2% during the first quarter. Cornerstone Wealth Group LLC now owns 350,371 shares of the company’s stock valued at $7,519,000 after acquiring an additional 223,537 shares during the last quarter. Finally, Founders Financial Securities LLC bought a new stake in shares of Kenvue during the 1st quarter worth $688,000. 97.64% of the stock is currently owned by institutional investors.

Kenvue Stock Performance

Shares of KVUE opened at $17.95 on Tuesday. The business’s 50 day moving average price is $19.16 and its 200-day moving average price is $19.95. The company has a quick ratio of 0.68, a current ratio of 0.99 and a debt-to-equity ratio of 0.66. The stock has a market cap of $34.37 billion, a P/E ratio of 23.01, a P/E/G ratio of 1.93 and a beta of 1.41. Kenvue Inc. has a 52 week low of $17.75 and a 52 week high of $26.60.

Kenvue (NYSE:KVUE) last released its quarterly earnings results on Tuesday, May 7th. The company reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.03. The firm had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $3.79 billion. Kenvue had a return on equity of 21.06% and a net margin of 9.63%. The firm’s revenue for the quarter was down 24.9% on a year-over-year basis. Equities research analysts anticipate that Kenvue Inc. will post 1.17 earnings per share for the current fiscal year.

Kenvue Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 22nd. Investors of record on Wednesday, May 8th were issued a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, May 7th. This represents a $0.80 dividend on an annualized basis and a yield of 4.46%. Kenvue’s dividend payout ratio is currently 102.56%.

Analyst Ratings Changes

KVUE has been the topic of a number of recent research reports. HSBC upped their price target on Kenvue from $20.00 to $21.00 and gave the company a “hold” rating in a research report on Wednesday, May 8th. William Blair began coverage on shares of Kenvue in a report on Wednesday, April 3rd. They set a “market perform” rating on the stock. Sanford C. Bernstein initiated coverage on shares of Kenvue in a research report on Thursday, April 11th. They set an “underperform” rating and a $18.00 price target for the company. Finally, Citigroup restated a “neutral” rating and issued a $21.00 price objective on shares of Kenvue in a report on Tuesday, May 28th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $23.09.

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.