Brookstone Capital Management Has $1.57 Million Position in Kenvue Inc. $KVUE

Brookstone Capital Management lessened its stake in Kenvue Inc. (NYSE:KVUE) by 70.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 81,929 shares of the company’s stock after selling 193,541 shares during the period. Brookstone Capital Management’s holdings in Kenvue were worth $1,566,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of Kenvue by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 234,951,484 shares of the company’s stock worth $4,052,913,000 after acquiring an additional 1,604,040 shares during the period. State Street Corp increased its position in Kenvue by 3.5% during the 4th quarter. State Street Corp now owns 118,865,134 shares of the company’s stock valued at $2,050,424,000 after purchasing an additional 4,063,257 shares during the period. Geode Capital Management LLC increased its position in Kenvue by 0.8% during the 4th quarter. Geode Capital Management LLC now owns 49,862,574 shares of the company’s stock valued at $856,778,000 after purchasing an additional 371,322 shares during the period. Independent Franchise Partners LLP raised its holdings in Kenvue by 56.3% during the 4th quarter. Independent Franchise Partners LLP now owns 48,146,476 shares of the company’s stock worth $830,527,000 after purchasing an additional 17,343,785 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Kenvue in the 4th quarter worth approximately $756,862,000. Institutional investors and hedge funds own 97.64% of the company’s stock.

Kenvue Stock Performance

KVUE opened at $18.97 on Thursday. The company has a current ratio of 1.01, a quick ratio of 0.71 and a debt-to-equity ratio of 0.67. The company’s fifty day moving average price is $18.88 and its two-hundred day moving average price is $18.12. Kenvue Inc. has a 1-year low of $14.02 and a 1-year high of $21.95. The company has a market cap of $36.44 billion, a price-to-earnings ratio of 21.80, a PEG ratio of 1.36 and a beta of 0.47.

Kenvue (NYSE:KVUE) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.01). Kenvue had a net margin of 10.76% and a return on equity of 21.22%. The company had revenue of $3.96 billion for the quarter, compared to analyst estimates of $3.97 billion. During the same quarter last year, the firm posted $0.29 EPS. Kenvue’s revenue for the quarter was up 3.0% on a year-over-year basis. On average, analysts expect that Kenvue Inc. will post 1.14 EPS for the current fiscal year.

Kenvue Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Wednesday, August 12th will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 4.4%. The ex-dividend date is Wednesday, August 12th. This is a positive change from Kenvue’s previous quarterly dividend of $0.21. Kenvue’s dividend payout ratio (DPR) is currently 95.40%.

Wall Street Analysts Forecast Growth

KVUE has been the topic of a number of analyst reports. Barclays upped their price objective on shares of Kenvue from $18.00 to $19.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 21st. Zacks Research lowered shares of Kenvue from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 7th. Wall Street Zen cut shares of Kenvue from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Citigroup decreased their price target on Kenvue from $20.00 to $19.00 and set a “neutral” rating for the company in a report on Wednesday, April 15th. Finally, UBS Group dropped their price objective on Kenvue from $20.00 to $19.00 and set a “neutral” rating on the stock in a research note on Tuesday. Three research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. Based on data from MarketBeat.com, Kenvue presently has a consensus rating of “Hold” and a consensus target price of $19.27.

About Kenvue

Kenvue is a consumer health company that was established as a standalone, publicly traded business after separating from Johnson & Johnson. Listed on the New York Stock Exchange under the symbol KVUE, Kenvue focuses on the development, manufacture, marketing and distribution of consumer health and personal care products across a range of categories including skin and beauty care, baby care, oral care, wound care and over?the?counter medicines.

The company owns and markets a portfolio of widely recognized consumer brands, including names familiar to global shoppers across retail and pharmacy channels.