Perigon Wealth Management LLC Purchases New Position in Kenvue Inc. $KVUE

Perigon Wealth Management LLC acquired a new position in Kenvue Inc. (NYSE:KVUE) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 33,240 shares of the company’s stock, valued at approximately $635,000.

Other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Kenvue by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 234,951,484 shares of the company’s stock worth $4,052,913,000 after purchasing an additional 1,604,040 shares in the last quarter. State Street Corp lifted its holdings in shares of Kenvue by 3.5% during the fourth 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 in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Kenvue by 0.8% during the fourth 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 in the last quarter. Independent Franchise Partners LLP boosted its position in shares of Kenvue by 56.3% during the fourth quarter. Independent Franchise Partners LLP now owns 48,146,476 shares of the company’s stock valued at $830,527,000 after buying an additional 17,343,785 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Kenvue during the fourth quarter valued at $756,862,000. 97.64% of the stock is currently owned by hedge funds and other institutional investors.

Kenvue Price Performance

NYSE KVUE opened at $19.16 on Thursday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.71 and a current ratio of 1.01. Kenvue Inc. has a fifty-two week low of $14.02 and a fifty-two week high of $21.84. The company has a market capitalization of $36.80 billion, a PE ratio of 22.02, a price-to-earnings-growth ratio of 1.35 and a beta of 0.47. The business’s fifty day moving average is $19.02 and its 200 day moving average is $18.18.

Kenvue (NYSE:KVUE) last announced its quarterly earnings data 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). The firm had revenue of $3.96 billion during the quarter, compared to analysts’ expectations of $3.97 billion. Kenvue had a return on equity of 21.22% and a net margin of 10.76%.The business’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same period last year, the company earned $0.29 earnings per share. Sell-side analysts predict that Kenvue Inc. will post 1.14 earnings per share for the current year.

Kenvue Increases Dividend

The firm also recently disclosed 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 dividend on an annualized basis and a dividend yield of 4.4%. This is a positive change from Kenvue’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Wednesday, August 12th. Kenvue’s dividend payout ratio is currently 96.55%.

Analysts Set New Price Targets

KVUE has been the subject of a number of recent analyst reports. Barclays boosted their target price on Kenvue from $18.00 to $19.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 21st. Zacks Research downgraded shares of Kenvue from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 7th. Weiss Ratings upgraded shares of Kenvue from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, June 15th. UBS Group decreased their price objective on shares of Kenvue from $20.00 to $19.00 and set a “neutral” rating for the company in a report on Tuesday, August 11th. Finally, Wall Street Zen downgraded shares of 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’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $19.27.

Kenvue Company Profile

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.