Kenvue Inc. (NYSE:KVUE) Shares Bought by Palouse Capital Management Inc.

Palouse Capital Management Inc. lifted its position in shares of Kenvue Inc. (NYSE:KVUE) by 75.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 149,144 shares of the company’s stock after purchasing an additional 64,076 shares during the quarter. Kenvue accounts for approximately 1.8% of Palouse Capital Management Inc.’s portfolio, making the stock its 21st largest holding. Palouse Capital Management Inc.’s holdings in Kenvue were worth $2,711,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD increased its position in shares of Kenvue by 23.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 134,565,333 shares of the company’s stock valued at $2,887,773,000 after buying an additional 25,238,112 shares in the last quarter. Vanguard Group Inc. increased its holdings in Kenvue by 12.0% in the 1st quarter. Vanguard Group Inc. now owns 166,789,085 shares of the company’s stock worth $3,579,294,000 after acquiring an additional 17,908,497 shares in the last quarter. Norges Bank acquired a new position in Kenvue during the fourth quarter worth $282,100,000. Van ECK Associates Corp lifted its holdings in Kenvue by 110.9% during the second quarter. Van ECK Associates Corp now owns 20,510,427 shares of the company’s stock valued at $372,880,000 after purchasing an additional 10,783,258 shares in the last quarter. Finally, Clearbridge Investments LLC grew its position in shares of Kenvue by 16,051.1% in the first quarter. Clearbridge Investments LLC now owns 9,813,597 shares of the company’s stock valued at $210,600,000 after purchasing an additional 9,752,836 shares during the period. 97.64% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Citigroup reduced their price target on shares of Kenvue from $21.00 to $20.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. Deutsche Bank Aktiengesellschaft boosted their price target on Kenvue from $23.00 to $24.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. JPMorgan Chase & Co. raised their price objective on Kenvue from $22.00 to $24.00 and gave the company an “overweight” rating in a report on Wednesday, August 7th. UBS Group upped their target price on shares of Kenvue from $20.00 to $22.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $24.00 price target on shares of Kenvue in a research note on Wednesday, August 7th. One analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Kenvue presently has a consensus rating of “Hold” and an average price target of $21.44.

Kenvue Price Performance

Kenvue stock opened at $23.18 on Thursday. The company has a current ratio of 0.99, a quick ratio of 0.68 and a debt-to-equity ratio of 0.69. The company has a 50-day moving average price of $20.73 and a 200 day moving average price of $19.91. Kenvue Inc. has a 12-month low of $17.67 and a 12-month high of $23.55. The stock has a market cap of $44.39 billion, a P/E ratio of 29.72, a PEG ratio of 2.92 and a beta of 1.40.

Kenvue (NYSE:KVUE) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.04. The business had revenue of $4 billion during the quarter, compared to the consensus estimate of $3.93 billion. Kenvue had a net margin of 7.23% and a return on equity of 21.80%. The business’s revenue was down .3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.32 EPS. Sell-side analysts anticipate that Kenvue Inc. will post 1.08 earnings per share for the current year.

Kenvue Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 28th. Stockholders of record on Wednesday, August 14th were issued a dividend of $0.205 per share. The ex-dividend date was Wednesday, August 14th. This is a boost from Kenvue’s previous quarterly dividend of $0.20. This represents a $0.82 dividend on an annualized basis and a dividend yield of 3.54%. Kenvue’s dividend payout ratio is currently 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.