Wahed Invest LLC Makes New $1.08 Million Investment in Kenvue Inc. (NYSE:KVUE)

Wahed Invest LLC bought a new position in shares of Kenvue Inc. (NYSE:KVUE) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 46,501 shares of the company’s stock, valued at approximately $1,076,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in KVUE. Riverview Trust Co bought a new stake in shares of Kenvue in the 3rd quarter valued at about $30,000. Ashton Thomas Securities LLC bought a new stake in shares of Kenvue in the 3rd quarter valued at about $35,000. Deseret Mutual Benefit Administrators boosted its holdings in shares of Kenvue by 49.7% in the 3rd quarter. Deseret Mutual Benefit Administrators now owns 1,960 shares of the company’s stock valued at $45,000 after buying an additional 651 shares in the last quarter. Studio Investment Management LLC boosted its holdings 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 buying an additional 845 shares in the last quarter. Finally, Brooklyn Investment Group bought a new stake in shares of Kenvue in the 3rd quarter valued at about $71,000. 97.64% of the stock is currently owned by institutional investors.

Kenvue Stock Performance

KVUE opened at $23.15 on Friday. Kenvue Inc. has a 12-month low of $17.67 and a 12-month high of $24.46. The company has a current ratio of 1.00, a quick ratio of 0.69 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $44.37 billion, a PE ratio of 42.08, a P/E/G ratio of 2.13 and a beta of 1.36. The firm has a 50 day moving average of $22.97 and a two-hundred day moving average of $21.07.

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

Kenvue Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th were issued a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a dividend yield of 3.54%. The ex-dividend date of this dividend was Wednesday, November 13th. Kenvue’s dividend payout ratio (DPR) is 149.09%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on KVUE. Royal Bank of Canada cut 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 initiated coverage on shares of Kenvue in a research report on Tuesday, September 24th. They issued a “buy” rating and a $27.00 price objective for the company. Piper Sandler increased their price objective on shares of Kenvue from $20.00 to $21.00 and gave the company a “neutral” rating in a research report on Monday, September 23rd. Bank of America increased their price objective on shares of Kenvue from $24.00 to $27.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Finally, JPMorgan Chase & Co. increased their price objective on shares of Kenvue from $24.00 to $25.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Kenvue 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.