Verity & Verity LLC Has $248,000 Holdings in Kenvue Inc. (NYSE:KVUE)

Verity & Verity LLC trimmed its holdings in shares of Kenvue Inc. (NYSE:KVUE) by 78.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,658 shares of the company’s stock after selling 49,893 shares during the period. Verity & Verity LLC’s holdings in Kenvue were worth $248,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of KVUE. Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group grew its stake in shares of Kenvue by 9.4% during the second quarter. Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group now owns 67,723 shares of the company’s stock valued at $1,231,000 after purchasing an additional 5,810 shares during the last quarter. Sanctuary Advisors LLC acquired a new stake in shares of Kenvue in the 2nd quarter valued at $3,859,000. Ghisallo Capital Management LLC lifted its stake in shares of Kenvue by 200.0% during the second quarter. Ghisallo Capital Management LLC now owns 3,000,000 shares of the company’s stock valued at $54,540,000 after acquiring an additional 2,000,000 shares during the period. Brown Financial Advisors bought a new position in Kenvue in the second quarter valued at about $676,000. Finally, New Wave Wealth Advisors LLC acquired a new stake in Kenvue in the second quarter worth about $263,000. Institutional investors own 97.64% of the company’s stock.

Analysts Set New Price Targets

KVUE has been the topic of several recent research reports. Citigroup reduced their target price on shares of Kenvue from $21.00 to $20.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. UBS Group raised their price target on Kenvue from $20.00 to $22.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Royal Bank of Canada lowered Kenvue from an “outperform” rating to a “sector perform” rating and set a $24.00 target price on the stock. in a research note on Tuesday, September 24th. JPMorgan Chase & Co. boosted their target price on Kenvue from $22.00 to $24.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 7th. Finally, Jefferies Financial Group started coverage on shares of Kenvue in a research note on Tuesday, September 24th. They set a “buy” rating and a $27.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $22.10.

Kenvue Stock Down 1.5 %

Shares of Kenvue stock opened at $22.79 on Wednesday. Kenvue Inc. has a 52-week low of $17.67 and a 52-week high of $23.55. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.68 and a current ratio of 0.99. The business’s 50 day simple moving average is $21.60 and its 200 day simple moving average is $20.11. The firm 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 (NYSE:KVUE) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.04. The business had revenue of $4 billion for the quarter, compared to analyst estimates of $3.93 billion. Kenvue had a net margin of 7.23% and a return on equity of 21.80%. The firm’s revenue for the quarter was down .3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.32 earnings per share. On average, analysts predict that Kenvue Inc. will post 1.08 earnings per share for the current fiscal year.

Kenvue Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 28th. Stockholders of record on Wednesday, August 14th were issued a $0.205 dividend. This is a boost 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 3.60%. Kenvue’s dividend payout ratio (DPR) is presently 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.