Leo Wealth LLC Grows Stock Holdings in Kenvue Inc. (NYSE:KVUE)

Leo Wealth LLC raised its position in Kenvue Inc. (NYSE:KVUE) by 0.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 151,611 shares of the company’s stock after acquiring an additional 481 shares during the quarter. Leo Wealth LLC’s holdings in Kenvue were worth $3,507,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Massmutual Trust Co. FSB ADV boosted its stake in Kenvue by 6.2% during the third quarter. Massmutual Trust Co. FSB ADV now owns 8,400 shares of the company’s stock worth $194,000 after acquiring an additional 492 shares in the last quarter. Wolff Wiese Magana LLC boosted its stake in Kenvue by 0.7% during the third quarter. Wolff Wiese Magana LLC now owns 76,999 shares of the company’s stock worth $1,781,000 after acquiring an additional 501 shares in the last quarter. Marathon Capital Management boosted its stake in Kenvue by 0.3% during the second quarter. Marathon Capital Management now owns 149,699 shares of the company’s stock worth $2,722,000 after acquiring an additional 514 shares in the last quarter. Manchester Capital Management LLC boosted its stake in Kenvue by 80.8% during the first quarter. Manchester Capital Management LLC now owns 1,186 shares of the company’s stock worth $25,000 after acquiring an additional 530 shares in the last quarter. Finally, Poehling Capital Management INC. boosted its stake in Kenvue by 0.5% during the second quarter. Poehling Capital Management INC. now owns 104,934 shares of the company’s stock worth $1,908,000 after acquiring an additional 547 shares in the last quarter. Hedge funds and other institutional investors own 97.64% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Citigroup dropped their price objective on shares of Kenvue from $21.00 to $20.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. Bank of America boosted their price objective on shares of Kenvue from $24.00 to $27.00 and gave the stock a “buy” rating in a research note on Tuesday. Royal Bank of Canada downgraded shares of Kenvue from an “outperform” rating to a “sector perform” rating and set a $24.00 target price on the stock. in a research note on Tuesday, September 24th. Piper Sandler upped their target price on shares of Kenvue from $20.00 to $21.00 and gave the stock a “neutral” rating in a research note on Monday, September 23rd. Finally, JPMorgan Chase & Co. upped their target price on shares of Kenvue from $24.00 to $25.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Kenvue currently has a consensus rating of “Hold” and a consensus price target of $22.64.

Kenvue Stock Performance

Kenvue stock traded up $0.11 during midday trading on Tuesday, reaching $23.03. 13,232,893 shares of the company traded hands, compared to its average volume of 18,201,803. The firm has a market capitalization of $44.10 billion, a price-to-earnings ratio of 29.31, a price-to-earnings-growth ratio of 2.76 and a beta of 1.40. The business has a 50 day moving average of $22.30 and a two-hundred day moving average of $20.22. Kenvue Inc. has a 12 month low of $17.67 and a 12 month high of $23.55. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.99 and a quick ratio of 0.68.

Kenvue (NYSE:KVUE) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.32 earnings per share for the quarter, beating 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 for the quarter was down .3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.32 earnings per share. As a group, research analysts predict that Kenvue Inc. will post 1.08 earnings per share for the current year.

Kenvue Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th will be issued a dividend of $0.205 per share. The ex-dividend date is Wednesday, November 13th. This represents a $0.82 dividend on an annualized basis and a yield of 3.56%. Kenvue’s dividend payout ratio is currently 105.13%.

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.