Cetera Investment Advisers Increases Position in Kenvue Inc. (NYSE:KVUE)

Cetera Investment Advisers raised its holdings in shares of Kenvue Inc. (NYSE:KVUE) by 43.7% during the fourth quarter, Holdings Channel reports. The fund owned 741,580 shares of the company’s stock after buying an additional 225,681 shares during the period. Cetera Investment Advisers’ holdings in Kenvue were worth $15,833,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Captrust Financial Advisors grew its holdings in shares of Kenvue by 16.4% in the fourth quarter. Captrust Financial Advisors now owns 62,803 shares of the company’s stock worth $1,341,000 after purchasing an additional 8,826 shares during the last quarter. Cary Street Partners Financial LLC purchased a new stake in shares of Kenvue in the 4th quarter worth about $270,000. Ameriprise Financial Inc. increased its stake in shares of Kenvue by 8.9% during the fourth quarter. Ameriprise Financial Inc. now owns 5,010,382 shares of the company’s stock valued at $106,972,000 after purchasing an additional 408,127 shares in the last quarter. Alteri Wealth LLC bought a new position in Kenvue during the 4th quarter valued at approximately $293,000. Finally, Alyeska Investment Group L.P. raised its position in shares of Kenvue by 67.1% in the 4th quarter. Alyeska Investment Group L.P. now owns 5,820,813 shares of the company’s stock worth $124,274,000 after purchasing an additional 2,337,926 shares during the last quarter. Institutional investors own 97.64% of the company’s stock.

Analyst Upgrades and Downgrades

KVUE has been the topic of several recent analyst reports. Canaccord Genuity Group increased their target price on Kenvue from $24.00 to $29.00 and gave the company a “buy” rating in a research note on Wednesday, March 5th. Redburn Atlantic began coverage on shares of Kenvue in a report on Thursday, April 10th. They set a “neutral” rating and a $23.50 target price for the company. Citigroup lifted their price objective on Kenvue from $22.00 to $24.50 and gave the company a “neutral” rating in a research report on Friday. Evercore ISI started coverage on shares of Kenvue in a report on Monday, March 24th. They issued an “in-line” rating and a $25.00 target price for the company. Finally, Piper Sandler increased their price objective on shares of Kenvue from $24.00 to $27.00 and gave the company an “overweight” rating in a report on Monday, February 24th. Seven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Kenvue presently has a consensus rating of “Hold” and an average target price of $25.25.

Kenvue Stock Performance

NYSE KVUE opened at $24.47 on Friday. Kenvue Inc. has a fifty-two week low of $17.67 and a fifty-two week high of $25.17. The company has a market cap of $46.95 billion, a P/E ratio of 46.17, a P/E/G ratio of 2.62 and a beta of 1.02. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.69 and a current ratio of 1.00. The business’s 50 day moving average price is $23.13 and its 200-day moving average price is $22.56.

Kenvue (NYSE:KVUE) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.01. Kenvue had a net margin of 6.66% and a return on equity of 20.97%. The company had revenue of $3.74 billion for the quarter, compared to analyst estimates of $3.69 billion. During the same period in the prior year, the company posted $0.28 EPS. The firm’s revenue for the quarter was down 3.9% on a year-over-year basis. Sell-side analysts predict that Kenvue Inc. will post 1.14 earnings per share for the current year.

Kenvue Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 28th. Shareholders of record on Wednesday, May 14th will be given a $0.205 dividend. This represents a $0.82 annualized dividend and a yield of 3.35%. The ex-dividend date of this dividend is Wednesday, May 14th. Kenvue’s dividend payout ratio (DPR) is presently 154.72%.

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.