Kenvue Inc. (NYSE:KVUE) Stake Boosted by Norris Perne & French LLP MI

Norris Perne & French LLP MI grew its stake in shares of Kenvue Inc. (NYSE:KVUE) by 2.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 755,567 shares of the company’s stock after purchasing an additional 15,559 shares during the quarter. Norris Perne & French LLP MI’s holdings in Kenvue were worth $16,214,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Planned Solutions Inc. bought a new position in shares of Kenvue during the fourth quarter valued at approximately $27,000. Mather Group LLC. bought a new position in Kenvue in the 1st quarter worth approximately $28,000. Pacific Capital Wealth Advisors Inc. bought a new position in Kenvue in the 4th quarter worth approximately $28,000. CVA Family Office LLC bought a new position in Kenvue in the 4th quarter worth approximately $32,000. Finally, Pinnacle Bancorp Inc. grew its holdings in Kenvue by 51.3% in the 4th quarter. Pinnacle Bancorp Inc. now owns 1,552 shares of the company’s stock worth $33,000 after buying an additional 526 shares in the last quarter. 97.64% of the stock is owned by institutional investors.

Kenvue Price Performance

Shares of NYSE:KVUE traded down $0.24 on Friday, reaching $18.18. 57,323,267 shares of the company traded hands, compared to its average volume of 21,130,516. Kenvue Inc. has a fifty-two week low of $17.75 and a fifty-two week high of $26.66. The company’s 50 day moving average is $19.19 and its 200-day moving average is $19.98. The stock has a market capitalization of $34.81 billion and a PE ratio of 23.31. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.99 and a quick ratio of 0.68.

Kenvue (NYSE:KVUE) last announced its quarterly earnings data on Tuesday, May 7th. The company reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.03. Kenvue had a return on equity of 21.06% and a net margin of 9.63%. The company had revenue of $2.89 billion during the quarter, compared to the consensus estimate of $3.79 billion. The business’s revenue for the quarter was down 24.9% compared to the same quarter last year. As a group, analysts anticipate that Kenvue Inc. will post 1.17 earnings per share for the current fiscal year.

Kenvue Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 22nd. Shareholders of record on Wednesday, May 8th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 4.40%. The ex-dividend date of this dividend was Tuesday, May 7th. Kenvue’s dividend payout ratio (DPR) is currently 102.56%.

Wall Street Analyst Weigh In

KVUE has been the subject of a number of recent analyst reports. The Goldman Sachs Group initiated coverage on Kenvue in a report on Friday, March 1st. They issued a “neutral” rating and a $20.00 price objective for the company. Citigroup reissued a “neutral” rating and issued a $21.00 price objective on shares of Kenvue in a report on Tuesday, May 28th. HSBC increased their price objective on Kenvue from $20.00 to $21.00 and gave the stock a “hold” rating in a report on Wednesday, May 8th. William Blair began coverage on Kenvue in a research report on Wednesday, April 3rd. They issued a “market perform” rating for the company. Finally, Sanford C. Bernstein began coverage on Kenvue in a research report on Thursday, April 11th. They issued an “underperform” rating and a $18.00 target price for the company. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Kenvue currently has an average rating of “Hold” and a consensus target price of $23.09.

Kenvue Company 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.