SpiderRock Advisors LLC Buys New Holdings in Kenvue Inc. (NYSE:KVUE)

SpiderRock Advisors LLC bought a new position in shares of Kenvue Inc. (NYSE:KVUE) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 16,529 shares of the company’s stock, valued at approximately $334,000.

Several other institutional investors and hedge funds have also recently modified their holdings of KVUE. Planned Solutions Inc. bought a new stake in Kenvue during the 4th quarter worth approximately $27,000. Pacific Capital Wealth Advisors Inc. purchased a new position in shares of Kenvue in the fourth quarter valued at about $28,000. Mather Group LLC. purchased a new stake in Kenvue in the 1st quarter worth approximately $28,000. Oakworth Capital Inc. bought a new stake in Kenvue in the first quarter valued at $31,000. Finally, CVA Family Office LLC bought a new stake in shares of Kenvue during the 4th quarter valued at about $32,000. 97.64% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

KVUE has been the subject of several recent research reports. HSBC lifted their target price on shares of Kenvue from $20.00 to $21.00 and gave the company a “hold” rating in a report on Wednesday, May 8th. William Blair initiated coverage on Kenvue in a report on Wednesday, April 3rd. They issued a “market perform” rating on the stock. Sanford C. Bernstein assumed coverage on shares of Kenvue in a research note on Thursday, April 11th. They issued an “underperform” rating and a $18.00 price objective for the company. Finally, Citigroup reiterated a “neutral” rating and set a $21.00 price objective on shares of Kenvue in a research report on Tuesday, May 28th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $23.09.

Kenvue Stock Performance

Shares of KVUE stock traded down $0.03 during trading hours on Friday, hitting $18.28. The stock had a trading volume of 4,693,819 shares, compared to its average volume of 19,351,805. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.99 and a quick ratio of 0.68. The firm has a market capitalization of $35.00 billion, a PE ratio of 23.47, a PEG ratio of 1.94 and a beta of 1.40. Kenvue Inc. has a twelve month low of $17.75 and a twelve month high of $25.81. The stock’s 50 day moving average is $19.11 and its 200 day moving average is $19.90.

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

Kenvue Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 22nd. Shareholders of record on Wednesday, May 8th were issued a $0.20 dividend. The ex-dividend date was Tuesday, May 7th. This represents a $0.80 annualized dividend and a yield of 4.38%. Kenvue’s dividend payout ratio (DPR) is presently 102.56%.

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.