Private Advisor Group LLC Sells 917 Shares of Kenvue Inc. (NYSE:KVUE)

Private Advisor Group LLC trimmed its position in Kenvue Inc. (NYSE:KVUE) by 2.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 37,010 shares of the company’s stock after selling 917 shares during the period. Private Advisor Group LLC’s holdings in Kenvue were worth $673,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Farmers & Merchants Investments Inc. boosted its position in shares of Kenvue by 6.2% in the 2nd quarter. Farmers & Merchants Investments Inc. now owns 63,910 shares of the company’s stock worth $1,162,000 after purchasing an additional 3,750 shares in the last quarter. Slocum Gordon & Co LLP grew its stake in shares of Kenvue by 14.6% during the second quarter. Slocum Gordon & Co LLP now owns 275,098 shares of the company’s stock worth $5,001,000 after acquiring an additional 35,062 shares during the last quarter. Arizona State Retirement System increased its holdings in shares of Kenvue by 12.2% during the second quarter. Arizona State Retirement System now owns 555,048 shares of the company’s stock valued at $10,091,000 after acquiring an additional 60,463 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of Kenvue by 54.9% in the 2nd quarter. Victory Capital Management Inc. now owns 799,225 shares of the company’s stock valued at $14,530,000 after purchasing an additional 283,383 shares during the last quarter. Finally, Altus Wealth Group LLC raised its position in shares of Kenvue by 44.4% in the 2nd quarter. Altus Wealth Group LLC now owns 24,719 shares of the company’s stock valued at $449,000 after purchasing an additional 7,600 shares during the last quarter. 97.64% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

KVUE has been the subject of a number of research analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $24.00 price target on shares of Kenvue in a report on Wednesday, August 7th. UBS Group raised their target price on Kenvue from $20.00 to $22.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Citigroup dropped their price target on Kenvue from $21.00 to $20.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. JPMorgan Chase & Co. lifted their target price on Kenvue from $22.00 to $24.00 and gave the stock an “overweight” rating in a report on Wednesday, August 7th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on Kenvue from $23.00 to $24.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, Kenvue currently has a consensus rating of “Hold” and a consensus target price of $21.44.

Kenvue Trading Up 0.0 %

Shares of NYSE:KVUE opened at $23.39 on Wednesday. The company has a current ratio of 0.99, a quick ratio of 0.68 and a debt-to-equity ratio of 0.69. Kenvue Inc. has a 12-month low of $17.67 and a 12-month high of $23.55. The business has a 50 day moving average of $20.62 and a two-hundred day moving average of $19.88. The company has a market capitalization of $44.79 billion, a PE ratio of 29.99, a PEG ratio of 2.92 and a beta of 1.40.

Kenvue (NYSE:KVUE) last posted its earnings results on Tuesday, August 6th. The company reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.04. The firm had revenue of $4 billion for the quarter, compared to analysts’ expectations of $3.93 billion. Kenvue had a return on equity of 21.80% and a net margin of 7.23%. The company’s quarterly revenue was down .3% on a year-over-year basis. During the same period last year, the firm earned $0.32 EPS. As a group, analysts forecast that Kenvue Inc. will post 1.08 EPS for the current year.

Kenvue Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 28th. Stockholders of record on Wednesday, August 14th were given a dividend of $0.205 per share. This is a positive change from Kenvue’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Wednesday, August 14th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 3.51%. Kenvue’s dividend payout ratio (DPR) is 105.13%.

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.