Symmetry Investments LP Takes $524,000 Position in Kenvue Inc. (NYSE:KVUE)

Symmetry Investments LP bought a new stake in Kenvue Inc. (NYSE:KVUE) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 28,800 shares of the company’s stock, valued at approximately $524,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Manchester Capital Management LLC lifted its stake in shares of Kenvue by 80.8% in the 1st quarter. Manchester Capital Management LLC now owns 1,186 shares of the company’s stock valued at $25,000 after acquiring an additional 530 shares during the last quarter. Mather Group LLC. bought a new position in Kenvue during the 1st quarter valued at approximately $28,000. Riverview Trust Co bought a new position in Kenvue during the 1st quarter valued at approximately $33,000. MV Capital Management Inc. raised its position in Kenvue by 71.2% during 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 last quarter. Finally, Salomon & Ludwin LLC bought a new position in Kenvue during the 1st quarter valued at approximately $33,000. Institutional investors own 97.64% of the company’s stock.

Kenvue Stock Up 0.5 %

Shares of NYSE:KVUE opened at $23.02 on Friday. Kenvue Inc. has a 52-week low of $17.67 and a 52-week high of $23.55. The firm has a market capitalization of $44.08 billion, a P/E ratio of 29.51, a P/E/G ratio of 2.92 and a beta of 1.40. The stock has a 50 day moving average price of $20.92 and a 200-day moving average price of $19.96. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.68 and a current ratio of 0.99.

Kenvue (NYSE:KVUE) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.04. The company 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 quarterly revenue was down .3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.32 EPS. As a group, equities research analysts anticipate that Kenvue Inc. will post 1.08 EPS for the current fiscal year.

Kenvue Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 28th. Investors of record on Wednesday, August 14th were paid a $0.205 dividend. The ex-dividend date of this dividend was Wednesday, August 14th. This represents a $0.82 annualized dividend and a dividend yield of 3.56%. This is an increase from Kenvue’s previous quarterly dividend of $0.20. Kenvue’s dividend payout ratio is presently 105.13%.

Analyst Ratings Changes

A number of research firms have commented on KVUE. Citigroup lowered their price target on Kenvue from $21.00 to $20.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. UBS Group upped their price target on Kenvue from $20.00 to $22.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft upped their price target on Kenvue from $23.00 to $24.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. JPMorgan Chase & Co. upped their price target on Kenvue from $22.00 to $24.00 and gave the company an “overweight” rating in a research report on Wednesday, August 7th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $24.00 target price on shares of Kenvue in a research report 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 stock. According to data from MarketBeat, Kenvue has a consensus rating of “Hold” and a consensus price target 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.