Wealthfront Advisers LLC Buys 47,362 Shares of Kenvue Inc. $KVUE

Wealthfront Advisers LLC boosted its stake in shares of Kenvue Inc. (NYSE:KVUE) by 15.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 354,075 shares of the company’s stock after acquiring an additional 47,362 shares during the quarter. Wealthfront Advisers LLC’s holdings in Kenvue were worth $6,104,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Physician Wealth Advisors Inc. increased its stake in Kenvue by 67.5% in the 4th quarter. Physician Wealth Advisors Inc. now owns 1,533 shares of the company’s stock worth $26,000 after purchasing an additional 618 shares during the period. Elyxium Wealth LLC purchased a new stake in shares of Kenvue during the fourth quarter valued at approximately $26,000. MV Capital Management Inc. bought a new position in shares of Kenvue in the fourth quarter worth approximately $28,000. Reflection Asset Management bought a new position in shares of Kenvue in the fourth quarter worth approximately $32,000. Finally, SBI Securities Co. Ltd. increased its stake in shares of Kenvue by 82.4% in the fourth quarter. SBI Securities Co. Ltd. now owns 2,273 shares of the company’s stock worth $39,000 after buying an additional 1,027 shares during the period. 97.64% of the stock is currently owned by institutional investors.

Kenvue Price Performance

Shares of Kenvue stock opened at $18.94 on Friday. The business has a 50 day moving average of $18.20 and a 200 day moving average of $17.85. Kenvue Inc. has a 52 week low of $14.02 and a 52 week high of $22.87. The company has a market cap of $36.37 billion, a PE ratio of 22.28, a P/E/G ratio of 1.44 and a beta of 0.47. The company has a quick ratio of 0.70, a current ratio of 0.98 and a debt-to-equity ratio of 0.67.

Kenvue (NYSE:KVUE) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.05. The business had revenue of $3.91 billion for the quarter, compared to analysts’ expectations of $3.84 billion. Kenvue had a net margin of 10.61% and a return on equity of 20.81%. The firm’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.24 earnings per share. As a group, equities research analysts forecast that Kenvue Inc. will post 1.16 earnings per share for the current year.

Kenvue Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 27th. Stockholders of record on Wednesday, May 13th were paid a dividend of $0.2075 per share. The ex-dividend date of this dividend was Wednesday, May 13th. This represents a $0.83 dividend on an annualized basis and a dividend yield of 4.4%. Kenvue’s payout ratio is presently 97.65%.

Analyst Ratings Changes

KVUE has been the subject of a number of recent analyst reports. Barclays lowered their price target on shares of Kenvue from $19.00 to $18.00 and set an “equal weight” rating for the company in a report on Tuesday, April 14th. UBS Group boosted their price objective on shares of Kenvue from $18.00 to $20.00 and gave the company a “neutral” rating in a research report on Thursday. Wall Street Zen raised shares of Kenvue to a “buy” rating in a research note on Sunday, July 12th. Zacks Research cut Kenvue from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 7th. Finally, Weiss Ratings upgraded Kenvue from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, June 15th. Three research analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $19.50.

Insider Buying and Selling at Kenvue

In related news, General Counsel Matthew Orlando sold 38,491 shares of the business’s stock in a transaction dated 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 legal filing with the SEC, which is accessible through this link. Insiders own 1.59% of the company’s stock.

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.