Novare Capital Management LLC Boosts Stock Holdings in Kenvue Inc. (NYSE:KVUE)

Novare Capital Management LLC raised its holdings in shares of Kenvue Inc. (NYSE:KVUE) by 3.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 434,253 shares of the company’s stock after purchasing an additional 14,915 shares during the period. Novare Capital Management LLC’s holdings in Kenvue were worth $7,895,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of KVUE. International Assets Investment Management LLC lifted its holdings in Kenvue by 1,748.0% during the fourth quarter. International Assets Investment Management LLC now owns 196,927 shares of the company’s stock valued at $4,240,000 after purchasing an additional 186,271 shares in the last quarter. Victory Capital Management Inc. raised its holdings in Kenvue by 0.6% during the fourth quarter. Victory Capital Management Inc. now owns 526,301 shares of the company’s stock valued at $11,331,000 after acquiring an additional 3,014 shares during the period. First Trust Direct Indexing L.P. purchased a new position in shares of Kenvue in the fourth quarter valued at about $408,000. Benjamin F. Edwards & Company Inc. boosted its stake in shares of Kenvue by 145.3% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 30,977 shares of the company’s stock worth $667,000 after acquiring an additional 18,347 shares during the period. Finally, Merit Financial Group LLC bought a new stake in Kenvue during the 4th quarter valued at approximately $253,000. Hedge funds and other institutional investors own 97.64% of the company’s stock.

Kenvue Trading Up 0.6 %

Shares of KVUE stock traded up $0.14 during trading hours on Tuesday, reaching $22.09. 3,487,209 shares of the stock were exchanged, compared to its average volume of 18,532,455. The firm has a market capitalization of $42.30 billion, a price-to-earnings ratio of 28.14, a price-to-earnings-growth ratio of 2.76 and a beta of 1.38. The company’s 50-day moving average price is $19.54 and its 200-day moving average price is $19.56. Kenvue Inc. has a 12-month low of $17.67 and a 12-month high of $22.98. The company has a current ratio of 0.99, a quick ratio of 0.68 and a debt-to-equity ratio of 0.69.

Kenvue (NYSE:KVUE) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.04. Kenvue had a net margin of 7.23% and a return on equity of 21.80%. The company had revenue of $4 billion during the quarter, compared to analyst estimates of $3.93 billion. During the same period in the prior year, the firm earned $0.32 earnings per share. The firm’s revenue for the quarter was down .3% compared to the same quarter last year. As a group, equities analysts anticipate that Kenvue Inc. will post 1.08 earnings per share for the current year.

Kenvue Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 28th. Shareholders of record on Wednesday, August 14th were paid a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a yield of 3.71%. The ex-dividend date of this dividend was Wednesday, August 14th. This is an increase from Kenvue’s previous quarterly dividend of $0.20. Kenvue’s payout ratio is presently 105.13%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on KVUE. Citigroup dropped their target price on shares of Kenvue from $21.00 to $20.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. JPMorgan Chase & Co. raised their price objective on Kenvue from $22.00 to $24.00 and gave the company an “overweight” rating in a research report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft boosted their target price on Kenvue from $23.00 to $24.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. UBS Group raised their price target on Kenvue from $20.00 to $22.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Finally, HSBC increased 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. One analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Kenvue presently has a consensus rating of “Hold” and a consensus target price of $22.64.

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.