Wealth Alliance Sells 6,091 Shares of Kenvue Inc. (NYSE:KVUE)

Wealth Alliance cut its position in shares of Kenvue Inc. (NYSE:KVUE) by 18.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 26,732 shares of the company’s stock after selling 6,091 shares during the quarter. Wealth Alliance’s holdings in Kenvue were worth $486,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in Kenvue by 12.0% during the first quarter. Vanguard Group Inc. now owns 166,789,085 shares of the company’s stock valued at $3,579,294,000 after buying an additional 17,908,497 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of Kenvue by 23.1% in the 1st 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 acquiring an additional 25,238,112 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in Kenvue by 9.6% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 79,863,967 shares of the company’s stock valued at $1,451,927,000 after acquiring an additional 7,023,047 shares during the period. Wellington Management Group LLP grew its position in Kenvue by 6.7% during the 4th quarter. Wellington Management Group LLP now owns 76,501,956 shares of the company’s stock worth $1,647,087,000 after acquiring an additional 4,815,126 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its position in Kenvue by 11.1% during the 1st quarter. JPMorgan Chase & Co. now owns 68,319,998 shares of the company’s stock worth $1,466,147,000 after acquiring an additional 6,825,611 shares during the last quarter. 97.64% of the stock is owned by hedge funds and other institutional investors.

Kenvue Stock Performance

Shares of Kenvue stock opened at $22.90 on Friday. Kenvue Inc. has a 12 month low of $17.67 and a 12 month high of $23.55. The firm has a market capitalization of $43.85 billion, a P/E ratio of 29.36, a P/E/G ratio of 2.92 and a beta of 1.40. The business has a fifty day simple moving average of $20.83 and a two-hundred day simple moving average of $19.93. The company has a current ratio of 0.99, a quick ratio of 0.68 and a debt-to-equity ratio of 0.69.

Kenvue (NYSE:KVUE) last announced its earnings results on Tuesday, August 6th. The company reported $0.32 earnings per share for the quarter, beating 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 for the quarter was down .3% on a year-over-year basis. During the same quarter last year, the firm earned $0.32 earnings per share. On average, equities analysts forecast 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. Stockholders of record on Wednesday, August 14th were paid a $0.205 dividend. 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 3.58%. The ex-dividend date of this dividend was Wednesday, August 14th. Kenvue’s dividend payout ratio is currently 105.13%.

Wall Street Analyst Weigh In

KVUE has been the subject of several recent research reports. JPMorgan Chase & Co. boosted their price objective on Kenvue from $22.00 to $24.00 and gave the company an “overweight” rating in a research report on Wednesday, August 7th. Royal Bank of Canada reiterated an “outperform” rating and set a $24.00 price target on shares of Kenvue in a report on Wednesday, August 7th. UBS Group raised their price target 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 boosted 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, Citigroup dropped their target price on shares of Kenvue from $21.00 to $20.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $21.44.

About Kenvue

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.