Armistice Capital LLC Buys Shares of 3,992,196 Kenvue Inc. $KVUE

Armistice Capital LLC bought a new stake in shares of Kenvue Inc. (NYSE:KVUE) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 3,992,196 shares of the company’s stock, valued at approximately $68,865,000. Kenvue comprises approximately 0.8% of Armistice Capital LLC’s holdings, making the stock its 15th largest position.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Physician Wealth Advisors Inc. increased its holdings in Kenvue by 67.5% during the fourth quarter. Physician Wealth Advisors Inc. now owns 1,533 shares of the company’s stock valued at $26,000 after buying an additional 618 shares during the last quarter. Elyxium Wealth LLC purchased a new stake in Kenvue during the fourth quarter valued at approximately $26,000. SBI Securities Co. Ltd. increased its holdings in Kenvue by 82.4% during the fourth quarter. SBI Securities Co. Ltd. now owns 2,273 shares of the company’s stock valued at $39,000 after buying an additional 1,027 shares during the last quarter. Leonteq Securities AG purchased a new stake in Kenvue during the fourth quarter valued at approximately $45,000. Finally, DV Equities LLC purchased a new stake in Kenvue during the fourth quarter valued at approximately $46,000. 97.64% of the stock is owned by hedge funds and other institutional investors.

Kenvue Stock Performance

KVUE opened at $18.03 on Thursday. The firm has a market cap of $34.61 billion, a P/E ratio of 21.21, a PEG ratio of 1.40 and a beta of 0.54. Kenvue Inc. has a 1-year low of $14.02 and a 1-year high of $22.87. The company has a 50 day simple moving average of $17.49 and a two-hundred day simple moving average of $17.56. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.98 and a quick ratio of 0.70.

Kenvue (NYSE:KVUE) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.05. Kenvue had a net margin of 10.61% and a return on equity of 20.81%. The business had revenue of $3.91 billion during the quarter, compared to analyst estimates of $3.84 billion. During the same period in the prior year, the business posted $0.24 earnings per share. The company’s revenue was up 4.5% on a year-over-year basis. Equities analysts forecast that Kenvue Inc. will post 1.16 earnings per share for the current fiscal year.

Kenvue Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 27th. Investors of record on Wednesday, May 13th were given a dividend of $0.2075 per share. The ex-dividend date was Wednesday, May 13th. This represents a $0.83 dividend on an annualized basis and a dividend yield of 4.6%. Kenvue’s dividend payout ratio is currently 97.65%.

Insider Buying and Selling at Kenvue

In related news, General Counsel Matthew Orlando sold 38,491 shares of the company’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $17.66, for a total transaction of $679,751.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.59% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on KVUE shares. UBS Group dropped their price target on shares of Kenvue from $19.00 to $18.00 and set a “neutral” rating for the company in a research report on Tuesday, April 7th. Barclays dropped their price target on shares of Kenvue from $19.00 to $18.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 14th. Weiss Ratings upgraded shares of Kenvue from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday. Argus upgraded shares of Kenvue to a “hold” rating in a research report on Friday, March 6th. Finally, Citigroup dropped their price target on shares of Kenvue from $20.00 to $19.00 and set a “neutral” rating for the company in a research report on Wednesday, April 15th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and twelve have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Kenvue has an average rating of “Hold” and a consensus price target of $19.33.

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.