Meridian Investment Counsel Inc. Has $1.67 Million Holdings in Kenvue Inc. (NYSE:KVUE)

Meridian Investment Counsel Inc. decreased its position in Kenvue Inc. (NYSE:KVUE) by 9.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 72,346 shares of the company’s stock after selling 7,730 shares during the period. Meridian Investment Counsel Inc.’s holdings in Kenvue were worth $1,673,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the company. Riverview Trust Co bought a new stake in shares of Kenvue during the 3rd quarter valued at about $30,000. Ashton Thomas Securities LLC bought a new position in shares of Kenvue during the 3rd quarter worth approximately $35,000. Deseret Mutual Benefit Administrators grew its position in shares of Kenvue by 49.7% during the 3rd quarter. Deseret Mutual Benefit Administrators now owns 1,960 shares of the company’s stock worth $45,000 after buying an additional 651 shares during the period. Studio Investment Management LLC increased its stake in shares of Kenvue by 52.1% in the 2nd quarter. Studio Investment Management LLC now owns 2,468 shares of the company’s stock valued at $45,000 after acquiring an additional 845 shares in the last quarter. Finally, AlphaMark Advisors LLC bought a new stake in Kenvue in the third quarter valued at $77,000. Institutional investors own 97.64% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. 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 note on Wednesday, August 7th. JPMorgan Chase & Co. lifted their target price on Kenvue from $24.00 to $25.00 and gave the company an “overweight” rating in a report on Friday, October 11th. Bank of America increased their price target on shares of Kenvue from $24.00 to $27.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Royal Bank of Canada downgraded shares of Kenvue from an “outperform” rating to a “sector perform” rating and set a $24.00 price objective for the company. in a report on Tuesday, September 24th. Finally, UBS Group lifted their price target on Kenvue from $20.00 to $22.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $22.64.

Kenvue Trading Up 1.0 %

Shares of KVUE stock opened at $23.84 on Friday. The business has a 50-day moving average of $22.75 and a 200 day moving average of $20.65. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.00 and a quick ratio of 0.69. Kenvue Inc. has a 1-year low of $17.67 and a 1-year high of $24.13. The stock has a market capitalization of $45.70 billion, a PE ratio of 43.34, a P/E/G ratio of 2.10 and a beta of 1.36.

Kenvue (NYSE:KVUE) last issued its earnings results on Thursday, November 7th. The company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.01. The firm had revenue of $3.90 billion for the quarter, compared to analysts’ expectations of $3.92 billion. Kenvue had a net margin of 6.88% and a return on equity of 21.43%. The business’s revenue was down .4% on a year-over-year basis. During the same quarter last year, the business earned $0.31 earnings per share. As a group, sell-side analysts anticipate that Kenvue Inc. will post 1.07 earnings per share for the current year.

Kenvue Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th will be issued a dividend of $0.205 per share. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 3.44%. Kenvue’s dividend payout ratio is currently 149.09%.

Kenvue 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.