Cornerstone Wealth Group LLC Boosts Stock Position in Kenvue Inc. (NYSE:KVUE)

Cornerstone Wealth Group LLC increased its position in Kenvue Inc. (NYSE:KVUE) by 5.5% in the 2nd quarter, HoldingsChannel reports. The fund owned 369,573 shares of the company’s stock after buying an additional 19,202 shares during the quarter. Cornerstone Wealth Group LLC’s holdings in Kenvue were worth $6,719,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in KVUE. Manchester Capital Management LLC boosted its position in shares of Kenvue by 80.8% during the first quarter. Manchester Capital Management LLC now owns 1,186 shares of the company’s stock worth $25,000 after acquiring an additional 530 shares during the last quarter. Tradition Wealth Management LLC boosted its holdings in shares of Kenvue by 2.8% during 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 last quarter. MV Capital Management Inc. grew its position in shares of Kenvue by 71.2% during the first 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 in the last quarter. Royal Capital Wealth Management LLC boosted its stake in Kenvue by 2.3% during the fourth quarter. Royal Capital Wealth Management LLC now owns 29,746 shares of the company’s stock valued at $640,000 after buying an additional 673 shares during the last quarter. Finally, Lorne Steinberg Wealth Management Inc. boosted its position in shares of Kenvue by 0.7% during the 1st quarter. Lorne Steinberg Wealth Management Inc. now owns 97,315 shares of the company’s stock valued at $2,088,000 after acquiring an additional 715 shares during the last quarter. Institutional investors own 97.64% of the company’s stock.

Kenvue Stock Up 1.2 %

KVUE stock traded up $0.26 during trading on Friday, hitting $21.82. 6,779,504 shares of the company’s stock traded hands, compared to its average volume of 18,865,066. The firm has a market capitalization of $41.78 billion, a P/E ratio of 27.87, a PEG ratio of 2.07 and a beta of 1.38. Kenvue Inc. has a 1 year low of $17.67 and a 1 year high of $24.10. The company has a quick ratio of 0.68, a current ratio of 0.99 and a debt-to-equity ratio of 0.66. The business has a fifty day simple moving average of $19.14 and a two-hundred day simple moving average of $19.48.

Kenvue (NYSE:KVUE) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.04. The business had revenue of $4 billion for the quarter, compared to the consensus estimate of $3.93 billion. Kenvue had a return on equity of 21.06% and a net margin of 9.63%. The business’s revenue was down .3% compared to the same quarter last year. During the same period last year, the business posted $0.32 EPS. Sell-side analysts anticipate that Kenvue Inc. will post 1.13 EPS for the current year.

Kenvue Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 28th. Shareholders of record on Wednesday, August 14th will be given a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a dividend yield of 3.76%. This is a positive change from Kenvue’s previous quarterly dividend of $0.20. The ex-dividend date is Wednesday, August 14th. Kenvue’s dividend payout ratio is presently 105.13%.

Analysts Set New Price Targets

Several research analysts recently commented on the company. UBS Group lifted their price target on Kenvue from $20.00 to $22.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft lifted their target price on Kenvue from $23.00 to $24.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. HSBC boosted their target price on Kenvue from $20.00 to $21.00 and gave the company a “hold” rating in a research report on Wednesday, May 8th. Citigroup lowered their price target on Kenvue from $21.00 to $20.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Kenvue from $22.00 to $24.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 7th. One 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 company’s stock. Based on data from MarketBeat.com, Kenvue presently has a consensus rating of “Hold” and an average target price of $22.64.

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.