Rafferty Asset Management LLC Raises Holdings in Kenvue Inc. (NYSE:KVUE)

Rafferty Asset Management LLC increased its position in shares of Kenvue Inc. (NYSE:KVUE) by 12.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 166,423 shares of the company’s stock after buying an additional 18,598 shares during the period. Rafferty Asset Management LLC’s holdings in Kenvue were worth $3,553,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in KVUE. Grove Bank & Trust raised its holdings in shares of Kenvue by 438.4% in the 4th quarter. Grove Bank & Trust now owns 1,163 shares of the company’s stock valued at $25,000 after purchasing an additional 947 shares in the last quarter. Geneos Wealth Management Inc. purchased a new position in Kenvue during the fourth quarter valued at approximately $29,000. SRS Capital Advisors Inc. raised its stake in Kenvue by 67.4% in the fourth quarter. SRS Capital Advisors Inc. now owns 1,418 shares of the company’s stock worth $30,000 after buying an additional 571 shares in the last quarter. Asset Planning Inc bought a new stake in Kenvue during the 4th quarter valued at $42,000. Finally, Clarity Asset Management Inc. bought a new stake in Kenvue during the 4th quarter valued at $45,000. 97.64% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on KVUE shares. Redburn Atlantic started coverage on Kenvue in a research report on Thursday, April 10th. They set a “neutral” rating and a $23.50 price objective on the stock. Citigroup raised their price target on shares of Kenvue from $22.00 to $24.50 and gave the company a “neutral” rating in a report on Friday, May 9th. Evercore ISI began coverage on shares of Kenvue in a research note on Monday, March 24th. They set an “in-line” rating and a $25.00 price objective for the company. UBS Group increased their target price on shares of Kenvue from $24.00 to $25.00 and gave the company a “neutral” rating in a research report on Friday, May 9th. Finally, Barclays lifted their price target on shares of Kenvue from $22.00 to $23.00 and gave the stock an “equal weight” rating in a report on Monday, May 12th. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Kenvue currently has an average rating of “Hold” and an average target price of $25.33.

Kenvue Price Performance

NYSE KVUE opened at $24.15 on Monday. The stock’s fifty day moving average price is $23.16 and its 200 day moving average price is $22.59. Kenvue Inc. has a 1 year low of $17.67 and a 1 year high of $25.17. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.00 and a quick ratio of 0.69. The company has a market cap of $46.34 billion, a price-to-earnings ratio of 45.57, a PEG ratio of 2.62 and a beta of 1.02.

Kenvue (NYSE:KVUE) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.01. Kenvue had a return on equity of 20.97% and a net margin of 6.66%. The business 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 earned $0.28 earnings per share. The company’s revenue was down 3.9% on a year-over-year basis. As a group, equities research analysts forecast that Kenvue Inc. will post 1.14 earnings per share for the current year.

Kenvue Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 28th. Shareholders of record on Wednesday, May 14th will be given a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a yield of 3.40%. The ex-dividend date of this dividend is Wednesday, May 14th. Kenvue’s dividend payout ratio is presently 149.09%.

Kenvue Profile

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.