Verdence Capital Advisors LLC Has $936,000 Stock Holdings in Kenvue Inc. (NYSE:KVUE)

Verdence Capital Advisors LLC grew its stake in Kenvue Inc. (NYSE:KVUE) by 2.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 40,462 shares of the company’s stock after purchasing an additional 989 shares during the quarter. Verdence Capital Advisors LLC’s holdings in Kenvue were worth $936,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in KVUE. Riverview Trust Co acquired a new position in Kenvue during the third quarter valued at approximately $30,000. Deseret Mutual Benefit Administrators boosted its position in shares of Kenvue by 49.7% during the third quarter. Deseret Mutual Benefit Administrators now owns 1,960 shares of the company’s stock worth $45,000 after purchasing an additional 651 shares in the last quarter. Studio Investment Management LLC grew its holdings in shares of Kenvue by 52.1% in the 2nd quarter. Studio Investment Management LLC now owns 2,468 shares of the company’s stock valued at $45,000 after buying an additional 845 shares during the period. AlphaMark Advisors LLC bought a new stake in shares of Kenvue in the 3rd quarter valued at $77,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in Kenvue during the 2nd quarter worth $61,000. 97.64% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft boosted their target price on Kenvue from $23.00 to $24.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. Royal Bank of Canada cut 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. Jefferies Financial Group assumed 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. Bank of America upped their price target on shares of Kenvue from $24.00 to $27.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Finally, UBS Group raised their price objective on shares of Kenvue from $20.00 to $22.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $22.64.

Kenvue Trading Up 3.1 %

Shares of NYSE:KVUE opened at $23.68 on Monday. The stock has a market capitalization of $45.35 billion, a PE ratio of 43.05, a price-to-earnings-growth ratio of 3.10 and a beta of 1.36. The company’s 50-day moving average price is $22.65 and its two-hundred day moving average price is $20.54. 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 Inc. has a one year low of $17.67 and a one year high of $23.72.

Kenvue (NYSE:KVUE) last released its earnings results on Thursday, November 7th. The company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.01. The business had revenue of $3.90 billion for the quarter, compared to analyst estimates of $3.92 billion. Kenvue had a return on equity of 21.41% and a net margin of 6.88%. Kenvue’s revenue was down .4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.31 earnings per share. On average, equities analysts forecast that Kenvue Inc. will post 1.07 EPS for the current fiscal year.

Kenvue Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th will be issued a dividend of $0.205 per share. The ex-dividend date is Wednesday, November 13th. This represents a $0.82 dividend on an annualized basis and a yield of 3.46%. Kenvue’s payout ratio is 149.09%.

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.