EverSource Wealth Advisors LLC Acquires 1,829 Shares of Kenvue Inc. (NYSE:KVUE)

EverSource Wealth Advisors LLC lifted its holdings in Kenvue Inc. (NYSE:KVUE) by 78.6% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,155 shares of the company’s stock after buying an additional 1,829 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Kenvue were worth $89,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Beaumont Financial Advisors LLC increased its stake in shares of Kenvue by 3.0% in the 4th quarter. Beaumont Financial Advisors LLC now owns 17,532 shares of the company’s stock valued at $377,000 after acquiring an additional 509 shares during the last quarter. Pinnacle Bancorp Inc. grew its position in shares of Kenvue by 51.3% in the 4th quarter. Pinnacle Bancorp Inc. now owns 1,552 shares of the company’s stock valued at $33,000 after purchasing an additional 526 shares during the period. Manchester Capital Management LLC grew its position in shares of Kenvue by 80.8% in the 1st quarter. Manchester Capital Management LLC now owns 1,186 shares of the company’s stock valued at $25,000 after purchasing an additional 530 shares during the period. Tradition Wealth Management LLC grew its position in shares of Kenvue by 2.8% in the 4th quarter. Tradition Wealth Management LLC now owns 21,278 shares of the company’s stock valued at $458,000 after purchasing an additional 575 shares during the period. Finally, MV Capital Management Inc. grew its position in shares of Kenvue by 71.2% in the 1st quarter. MV Capital Management Inc. now owns 1,544 shares of the company’s stock valued at $33,000 after purchasing an additional 642 shares during the period. 97.64% of the stock is owned by institutional investors.

Analysts Set New Price Targets

KVUE has been the subject of several research analyst reports. Citigroup decreased their price objective on Kenvue from $21.00 to $20.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. Sanford C. Bernstein assumed coverage on Kenvue in a research report on Thursday, April 11th. They set an “underperform” rating and a $18.00 price target for the company. HSBC upped their price target on Kenvue from $20.00 to $21.00 and gave the stock a “hold” rating in a research report on Wednesday, May 8th. JPMorgan Chase & Co. reduced their price target on Kenvue from $23.00 to $22.00 and set an “overweight” rating for the company in a research report on Monday, July 22nd. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on Kenvue from $24.00 to $23.00 and set a “buy” rating for the company in a research report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $22.45.

Kenvue Stock Up 12.3 %

Shares of NYSE:KVUE traded up $2.23 during mid-day trading on Tuesday, hitting $20.42. 27,249,344 shares of the company traded hands, compared to its average volume of 19,131,180. The stock has a market cap of $39.10 billion, a P/E ratio of 26.54, a P/E/G ratio of 2.07 and a beta of 1.38. The company has a current ratio of 0.99, a quick ratio of 0.68 and a debt-to-equity ratio of 0.66. Kenvue Inc. has a 12-month low of $17.67 and a 12-month high of $24.10. The stock has a 50-day moving average price of $18.49 and a two-hundred day moving average price of $19.43.

Kenvue (NYSE:KVUE) last issued its quarterly earnings results on Tuesday, May 7th. The company reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.03. The business had revenue of $2.89 billion for the quarter, compared to analyst estimates of $3.79 billion. Kenvue had a return on equity of 21.06% and a net margin of 9.63%. Kenvue’s revenue for the quarter was down 24.9% compared to the same quarter last year. On average, equities research analysts forecast that Kenvue Inc. will post 1.13 earnings per share for the current year.

Kenvue Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 28th. Shareholders of record on Wednesday, August 14th will be paid a $0.205 dividend. The ex-dividend date is Wednesday, August 14th. This is a positive change from Kenvue’s previous quarterly dividend of $0.20. This represents a $0.82 annualized dividend and a dividend yield of 4.02%. Kenvue’s payout ratio is presently 105.13%.

About Kenvue

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.