New Wave Wealth Advisors LLC Acquires Shares of 14,459 Kenvue Inc. (NYSE:KVUE)

New Wave Wealth Advisors LLC bought a new position in Kenvue Inc. (NYSE:KVUE) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 14,459 shares of the company’s stock, valued at approximately $263,000.

Several other hedge funds have also recently made changes to their positions in the company. Manchester Capital Management LLC raised its stake in 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 period. Mather Group LLC. bought a new stake in shares of Kenvue in the first quarter valued at approximately $28,000. Riverview Trust Co purchased a new stake in shares of Kenvue during the 1st quarter valued at approximately $33,000. MV Capital Management Inc. boosted its holdings in Kenvue by 71.2% in the 1st quarter. MV Capital Management Inc. now owns 1,544 shares of the company’s stock worth $33,000 after buying an additional 642 shares during the period. Finally, Salomon & Ludwin LLC purchased a new position in Kenvue in the 1st quarter valued at approximately $33,000. 97.64% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

KVUE has been the subject of a number of analyst reports. UBS Group raised their price target on Kenvue from $20.00 to $22.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Royal Bank of Canada downgraded Kenvue from an “outperform” rating to a “sector perform” rating and set a $24.00 target price for the company. in a research note on Tuesday, September 24th. Citigroup decreased their price target on Kenvue from $21.00 to $20.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Kenvue from $23.00 to $24.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. Finally, Jefferies Financial Group initiated coverage on shares of Kenvue in a report on Tuesday, September 24th. They set a “buy” rating and a $27.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $22.10.

Kenvue Price Performance

KVUE stock opened at $22.79 on Wednesday. The firm has a 50 day simple moving average of $21.50 and a two-hundred day simple moving average of $20.09. The stock has a market cap of $43.63 billion, a PE ratio of 29.21, a P/E/G ratio of 2.92 and a beta of 1.40. Kenvue Inc. has a one year low of $17.67 and a one year high of $23.55. 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 (NYSE:KVUE) last announced its earnings results on Tuesday, August 6th. The company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.04. Kenvue had a net margin of 7.23% and a return on equity of 21.80%. The company had revenue of $4 billion during the quarter, compared to analyst estimates of $3.93 billion. During the same period in the previous year, the business earned $0.32 earnings per share. The firm’s quarterly revenue was down .3% compared to the same quarter last year. On average, analysts predict that Kenvue Inc. will post 1.08 EPS for the current fiscal year.

Kenvue Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 28th. Investors of record on Wednesday, August 14th were issued a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a dividend yield of 3.60%. This is a boost from Kenvue’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Wednesday, August 14th. Kenvue’s dividend payout ratio (DPR) 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.