Choreo LLC Invests $925,000 in Kenvue Inc. (NYSE:KVUE)

Choreo LLC acquired a new stake in shares of Kenvue Inc. (NYSE:KVUE) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 51,461 shares of the company’s stock, valued at approximately $925,000.

Other large investors also recently added to or reduced their stakes in the company. Manchester Capital Management LLC increased its position in shares of Kenvue by 80.8% during the first quarter. Manchester Capital Management LLC now owns 1,186 shares of the company’s stock worth $25,000 after acquiring an additional 530 shares during the period. Tradition Wealth Management LLC increased its holdings in Kenvue by 2.8% during the 4th quarter. Tradition Wealth Management LLC now owns 21,278 shares of the company’s stock worth $458,000 after purchasing an additional 575 shares during the period. 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 in the last quarter. Cove Private Wealth LLC lifted its holdings in shares of Kenvue by 1.6% in the 2nd quarter. Cove Private Wealth LLC now owns 44,539 shares of the company’s stock worth $810,000 after buying an additional 700 shares during the period. Finally, Lorne Steinberg Wealth Management Inc. lifted its holdings in shares of Kenvue by 0.7% in the 1st quarter. Lorne Steinberg Wealth Management Inc. now owns 97,315 shares of the company’s stock worth $2,088,000 after buying an additional 715 shares during the period. 97.64% of the stock is owned by hedge funds and other institutional investors.

Kenvue Stock Performance

Shares of KVUE stock opened at $23.08 on Friday. Kenvue Inc. has a 12-month low of $17.67 and a 12-month high of $23.47. The business’s fifty day simple moving average is $20.31 and its 200-day simple moving average is $19.78. 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 market cap of $44.19 billion, a PE ratio of 29.59, a PEG ratio of 2.89 and a beta of 1.40.

Kenvue (NYSE:KVUE) last announced its earnings results on Tuesday, August 6th. The company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.04. The company had revenue of $4 billion for the quarter, compared to analyst estimates 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 period in the prior year, the company posted $0.32 EPS. Analysts expect that Kenvue Inc. will post 1.08 earnings per share for the current fiscal year.

Kenvue Increases Dividend

The business also recently announced 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 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 3.55%. Kenvue’s dividend payout ratio (DPR) is 105.13%.

Analyst Ratings Changes

KVUE has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft lifted their price objective on Kenvue from $23.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. UBS Group boosted their price target on shares of Kenvue from $20.00 to $22.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Royal Bank of Canada reiterated an “outperform” rating and set a $24.00 price objective on shares of Kenvue in a research note on Wednesday, August 7th. Citigroup reduced their price objective on shares of Kenvue from $21.00 to $20.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. Finally, JPMorgan Chase & Co. increased their target price on Kenvue from $22.00 to $24.00 and gave the company an “overweight” rating in a research report on Wednesday, August 7th. One investment 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. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $21.44.

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.