Virtu Financial LLC Takes $1.13 Million Position in Kenvue Inc. (NYSE:KVUE)

Virtu Financial LLC bought a new position in Kenvue Inc. (NYSE:KVUE) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 61,914 shares of the company’s stock, valued at approximately $1,126,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Manchester Capital Management LLC increased its holdings in shares of Kenvue by 80.8% in the first quarter. Manchester Capital Management LLC now owns 1,186 shares of the company’s stock valued at $25,000 after buying an additional 530 shares in the last quarter. Mather Group LLC. acquired a new stake in shares of Kenvue during the first quarter worth $28,000. Riverview Trust Co purchased a new stake in shares of Kenvue during the first quarter valued at $33,000. MV Capital Management Inc. boosted its position in shares of Kenvue by 71.2% in the 1st quarter. MV Capital Management Inc. now owns 1,544 shares of the company’s stock valued at $33,000 after purchasing an additional 642 shares during the period. Finally, Salomon & Ludwin LLC purchased a new position in Kenvue in the 1st quarter worth about $33,000. 97.64% of the stock is owned by institutional investors and hedge funds.

Kenvue Stock Performance

Shares of KVUE stock opened at $23.18 on Thursday. The firm 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. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.99 and a quick ratio of 0.68. Kenvue Inc. has a fifty-two week low of $17.67 and a fifty-two week high of $23.55. The stock’s 50-day moving average is $20.73 and its two-hundred day moving average is $19.91.

Kenvue (NYSE:KVUE) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.04. The firm had revenue of $4 billion for the quarter, compared to the consensus estimate of $3.93 billion. Kenvue had a return on equity of 21.80% and a net margin of 7.23%. The firm’s revenue was down .3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.32 earnings per share. Analysts predict that Kenvue Inc. will post 1.08 earnings per share for the current fiscal year.

Kenvue Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 28th. Investors of record on Wednesday, August 14th were issued a $0.205 dividend. 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 yield of 3.54%. Kenvue’s dividend payout ratio is currently 105.13%.

Analyst Ratings Changes

Several brokerages have commented on KVUE. UBS Group raised 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. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Kenvue from $23.00 to $24.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $24.00 target price on shares of Kenvue in a research report on Wednesday, August 7th. Citigroup lowered their price target on Kenvue from $21.00 to $20.00 and set a “neutral” rating on the stock in a report on Wednesday, July 10th. Finally, JPMorgan Chase & Co. increased their price objective on Kenvue from $22.00 to $24.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $21.44.

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.