Cerity Partners LLC Buys 183,410 Shares of Kenvue Inc. (NYSE:KVUE)

Cerity Partners LLC boosted its stake in Kenvue Inc. (NYSE:KVUE) by 30.2% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 791,441 shares of the company’s stock after purchasing an additional 183,410 shares during the quarter. Cerity Partners LLC’s holdings in Kenvue were worth $18,306,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Riverview Trust Co acquired a new position in shares of Kenvue during the 3rd quarter worth $30,000. Ashton Thomas Securities LLC acquired a new stake in Kenvue in the third quarter valued at about $35,000. Deseret Mutual Benefit Administrators raised its stake in Kenvue by 49.7% during the third quarter. Deseret Mutual Benefit Administrators now owns 1,960 shares of the company’s stock worth $45,000 after acquiring an additional 651 shares in the last quarter. Studio Investment Management LLC raised its stake in Kenvue by 52.1% during the second quarter. Studio Investment Management LLC now owns 2,468 shares of the company’s stock worth $45,000 after acquiring an additional 845 shares in the last quarter. Finally, AlphaMark Advisors LLC acquired a new position in Kenvue during the third quarter worth about $77,000. 97.64% of the stock is currently owned by institutional investors and hedge funds.

Kenvue Trading Up 0.7 %

NYSE KVUE opened at $24.25 on Tuesday. The firm has a market capitalization of $46.49 billion, a PE ratio of 44.09, a price-to-earnings-growth ratio of 2.19 and a beta of 1.36. The business’s 50-day moving average price is $22.84 and its two-hundred day moving average price is $20.87. The company has a current ratio of 1.00, a quick ratio of 0.69 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 $24.40.

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

Kenvue Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th will be paid a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a yield of 3.38%. The ex-dividend date of this dividend is Wednesday, November 13th. Kenvue’s dividend payout ratio is presently 149.09%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Royal Bank of Canada lowered shares of Kenvue from an “outperform” rating to a “sector perform” rating and set a $24.00 price target on the stock. in a report on Tuesday, September 24th. Jefferies Financial Group began coverage on shares of Kenvue in a report on Tuesday, September 24th. They set a “buy” rating and a $27.00 price target for the company. UBS Group increased their price target on Kenvue from $20.00 to $22.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Piper Sandler boosted their price objective on Kenvue from $20.00 to $21.00 and gave the stock a “neutral” rating in a research report on Monday, September 23rd. Finally, JPMorgan Chase & Co. increased their target price on Kenvue from $24.00 to $25.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. One analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average 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.