Empower Advisory Group LLC Buys New Position in Kenvue Inc. (NYSE:KVUE)

Empower Advisory Group LLC purchased a new position in shares of Kenvue Inc. (NYSE:KVUE) in the 4th quarter, HoldingsChannel reports. The firm purchased 2,260,064 shares of the company’s stock, valued at approximately $48,252,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Huntington National Bank grew its stake in Kenvue by 26.5% during the third quarter. Huntington National Bank now owns 4,161 shares of the company’s stock worth $96,000 after purchasing an additional 871 shares during the period. ING Groep NV boosted its holdings in shares of Kenvue by 23.6% during the 3rd quarter. ING Groep NV now owns 3,576,616 shares of the company’s stock worth $82,727,000 after buying an additional 681,954 shares in the last quarter. Everence Capital Management Inc. grew its position in shares of Kenvue by 122.1% during the 4th quarter. Everence Capital Management Inc. now owns 45,380 shares of the company’s stock worth $969,000 after buying an additional 24,950 shares during the period. Saturna Capital Corp grew its position in shares of Kenvue by 29.9% during the 3rd quarter. Saturna Capital Corp now owns 1,334,860 shares of the company’s stock worth $30,875,000 after buying an additional 307,039 shares during the period. Finally, Golden State Equity Partners increased its stake in shares of Kenvue by 716.1% in the 4th quarter. Golden State Equity Partners now owns 25,658 shares of the company’s stock valued at $548,000 after acquiring an additional 22,514 shares in the last quarter. Institutional investors and hedge funds own 97.64% of the company’s stock.

Kenvue Price Performance

KVUE opened at $21.94 on Tuesday. Kenvue Inc. has a 1 year low of $17.67 and a 1 year high of $24.46. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.00 and a quick ratio of 0.69. The company has a market capitalization of $42.07 billion, a price-to-earnings ratio of 41.40, a P/E/G ratio of 2.16 and a beta of 1.45. The firm’s fifty day moving average price is $21.30 and its two-hundred day moving average price is $22.12.

Kenvue (NYSE:KVUE) last released its quarterly earnings results on Thursday, February 6th. The company reported $0.26 earnings per share for the quarter, hitting the consensus estimate of $0.26. Kenvue had a net margin of 6.66% and a return on equity of 20.97%. As a group, analysts anticipate that Kenvue Inc. will post 1.05 earnings per share for the current fiscal year.

Kenvue Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th will be given a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a dividend yield of 3.74%. The ex-dividend date of this dividend is Wednesday, February 12th. Kenvue’s payout ratio is 154.72%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on KVUE. Piper Sandler raised shares of Kenvue from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $21.00 to $26.00 in a research note on Monday, January 6th. Deutsche Bank Aktiengesellschaft downgraded Kenvue from a “buy” rating to a “hold” rating and reduced their target price for the company from $25.00 to $24.00 in a research note on Thursday, December 12th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $24.00 price target on shares of Kenvue in a research note on Monday, February 3rd. Bank of America raised their price objective on Kenvue from $24.00 to $27.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Finally, UBS Group lowered their target price on Kenvue from $23.00 to $21.00 and set a “neutral” rating on the stock in a research report on Friday, February 7th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $23.00.

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.