NewEdge Wealth LLC Purchases Shares of 53,681 Kenvue Inc. $KVUE

NewEdge Wealth LLC purchased a new position in Kenvue Inc. (NYSE:KVUE) in the second quarter, HoldingsChannel reports. The institutional investor purchased 53,681 shares of the company’s stock, valued at approximately $1,026,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Calamos Advisors LLC lifted its holdings in shares of Kenvue by 24.1% during the first quarter. Calamos Advisors LLC now owns 3,351,000 shares of the company’s stock worth $57,771,000 after purchasing an additional 651,000 shares during the period. State of Wyoming increased its holdings in Kenvue by 233.5% in the 4th quarter. State of Wyoming now owns 97,992 shares of the company’s stock worth $1,690,000 after buying an additional 68,609 shares during the period. Nomura Asset Management Co. Ltd. increased its holdings in Kenvue by 21.5% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 3,491,548 shares of the company’s stock worth $60,229,000 after buying an additional 618,720 shares during the period. Cullen Frost Bankers Inc. increased its holdings in Kenvue by 19.9% in the 4th quarter. Cullen Frost Bankers Inc. now owns 431,394 shares of the company’s stock worth $7,442,000 after buying an additional 71,591 shares during the period. Finally, Nuance Investments LLC purchased a new position in Kenvue during the 2nd quarter worth approximately $27,681,000. 97.64% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

KVUE has been the topic of several analyst reports. Weiss Ratings raised Kenvue from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, June 15th. Zacks Research downgraded Kenvue from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 7th. UBS Group lowered their target price on Kenvue from $20.00 to $19.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 11th. Barclays raised their target price on Kenvue from $18.00 to $19.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 21st. Finally, Wall Street Zen cut Kenvue from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Three analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $19.27.

Kenvue Stock Performance

Shares of NYSE KVUE opened at $19.08 on Friday. The company has a market capitalization of $36.65 billion, a PE ratio of 21.93, a price-to-earnings-growth ratio of 1.36 and a beta of 0.47. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.71 and a current ratio of 1.01. The company’s fifty day moving average price is $19.05 and its 200 day moving average price is $18.19. Kenvue Inc. has a 1 year low of $14.02 and a 1 year high of $21.78.

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

Kenvue Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Investors of record on Wednesday, August 12th will be paid a $0.21 dividend. The ex-dividend date is Wednesday, August 12th. This represents a $0.84 annualized dividend and a dividend yield of 4.4%. This is a boost from Kenvue’s previous quarterly dividend of $0.21. Kenvue’s dividend payout ratio (DPR) is presently 96.55%.

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.