Royal Capital Wealth Management LLC Trims Stock Holdings in Kenvue Inc. (NYSE:KVUE)

Royal Capital Wealth Management LLC lessened its stake in shares of Kenvue Inc. (NYSE:KVUE) by 3.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,716 shares of the company’s stock after selling 982 shares during the quarter. Royal Capital Wealth Management LLC’s holdings in Kenvue were worth $522,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in KVUE. Manchester Capital Management LLC raised its holdings 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 buying an additional 530 shares during the period. Mather Group LLC. acquired a new position in Kenvue in the 1st quarter valued at about $28,000. Riverview Trust Co purchased a new stake in Kenvue during the first quarter worth about $33,000. MV Capital Management Inc. lifted its position in shares of Kenvue by 71.2% during the first quarter. MV Capital Management Inc. now owns 1,544 shares of the company’s stock worth $33,000 after purchasing an additional 642 shares in the last quarter. Finally, Salomon & Ludwin LLC purchased a new position in shares of Kenvue in the first quarter valued at approximately $33,000. 97.64% of the stock is currently owned by institutional investors and hedge funds.

Kenvue Price Performance

KVUE stock opened at $23.11 on Wednesday. The business has a 50 day moving average price of $21.12 and a 200 day moving average price of $20.01. The company has a quick ratio of 0.68, a current ratio of 0.99 and a debt-to-equity ratio of 0.69. The stock has a market cap of $44.26 billion, a price-to-earnings ratio of 29.63, a PEG ratio of 2.92 and a beta of 1.40. Kenvue Inc. has a fifty-two week low of $17.67 and a fifty-two week high of $23.55.

Kenvue (NYSE:KVUE) last issued its quarterly earnings data 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 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 company’s revenue was down .3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.32 EPS. Equities research analysts anticipate that Kenvue Inc. will post 1.08 earnings per share for the current fiscal year.

Kenvue Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 28th. Shareholders of record on Wednesday, August 14th were issued a dividend of $0.205 per share. This is a positive change from Kenvue’s previous quarterly dividend of $0.20. The ex-dividend date was Wednesday, August 14th. This represents a $0.82 annualized dividend and a dividend yield of 3.55%. Kenvue’s dividend payout ratio (DPR) is presently 105.13%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on KVUE. UBS Group upped their target price on shares of Kenvue from $20.00 to $22.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Jefferies Financial Group started coverage on Kenvue in a research report on Tuesday. They set a “buy” rating and a $27.00 price objective on the stock. Deutsche Bank Aktiengesellschaft lifted their target price on Kenvue from $23.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. Citigroup cut 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, Royal Bank of Canada cut Kenvue from an “outperform” rating to a “sector perform” rating and set a $24.00 price objective for the company. in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $22.10.

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.