Nicholas Hoffman & Company LLC. Purchases 9,872 Shares of Kenvue Inc. (NYSE:KVUE)

Nicholas Hoffman & Company LLC. raised its stake in Kenvue Inc. (NYSE:KVUE) by 19.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 60,730 shares of the company’s stock after buying an additional 9,872 shares during the period. Nicholas Hoffman & Company LLC.’s holdings in Kenvue were worth $1,104,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in KVUE. Price T Rowe Associates Inc. MD boosted its position in Kenvue by 23.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 134,565,333 shares of the company’s stock valued at $2,887,773,000 after buying an additional 25,238,112 shares during the period. Vanguard Group Inc. lifted its position in shares of Kenvue by 12.0% in the 1st quarter. Vanguard Group Inc. now owns 166,789,085 shares of the company’s stock worth $3,579,294,000 after purchasing an additional 17,908,497 shares during the period. Norges Bank purchased a new stake in shares of Kenvue in the 4th quarter worth about $282,100,000. Van ECK Associates Corp lifted its position in shares of Kenvue by 110.9% in the 2nd quarter. Van ECK Associates Corp now owns 20,510,427 shares of the company’s stock worth $372,880,000 after purchasing an additional 10,783,258 shares during the period. Finally, Clearbridge Investments LLC lifted its position in shares of Kenvue by 16,051.1% in the 1st quarter. Clearbridge Investments LLC now owns 9,813,597 shares of the company’s stock worth $210,600,000 after purchasing an additional 9,752,836 shares during the period. Institutional investors own 97.64% of the company’s stock.

Kenvue Stock Performance

Shares of KVUE stock traded down $0.01 during trading hours on Thursday, reaching $22.50. The company had a trading volume of 3,627,983 shares, compared to its average volume of 18,529,979. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.68 and a current ratio of 0.99. The firm has a market cap of $43.08 billion, a PE ratio of 28.84, a price-to-earnings-growth ratio of 2.76 and a beta of 1.38. The business has a fifty day moving average price of $19.67 and a 200-day moving average price of $19.60. Kenvue Inc. has a one year low of $17.67 and a one year high of $22.71.

Kenvue (NYSE:KVUE) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.04. The company had revenue of $4 billion for the quarter, compared to the consensus estimate of $3.93 billion. Kenvue had a net margin of 7.23% and a return on equity of 21.80%. The firm’s revenue was down .3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.32 earnings per share. Sell-side analysts predict that Kenvue Inc. will post 1.08 earnings per share for the current fiscal 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 issued a dividend of $0.205 per share. The ex-dividend date of this dividend was Wednesday, August 14th. This represents a $0.82 annualized dividend and a yield of 3.64%. This is an increase from Kenvue’s previous quarterly dividend of $0.20. Kenvue’s payout ratio is currently 105.13%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $24.00 target price on shares of Kenvue in a research report on Wednesday, August 7th. JPMorgan Chase & Co. increased their price target on shares of Kenvue from $22.00 to $24.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Kenvue from $23.00 to $24.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. UBS Group increased their price target on shares of Kenvue from $20.00 to $22.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Finally, Citigroup decreased their price target on shares of Kenvue from $21.00 to $20.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock 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.