Wealth Alliance Takes $657,000 Position in Kenvue Inc. (NYSE:KVUE)

Wealth Alliance purchased a new stake in shares of Kenvue Inc. (NYSE:KVUE) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 30,508 shares of the company’s stock, valued at approximately $657,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. bought a new position in Kenvue during the 3rd quarter valued at approximately $2,944,816,000. FMR LLC raised its position in shares of Kenvue by 572.1% in the 3rd quarter. FMR LLC now owns 89,182,980 shares of the company’s stock worth $1,790,794,000 after acquiring an additional 75,913,107 shares in the last quarter. Wellington Management Group LLP raised its position in shares of Kenvue by 576.1% in the 3rd quarter. Wellington Management Group LLP now owns 71,686,830 shares of the company’s stock worth $1,439,472,000 after acquiring an additional 61,084,123 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of Kenvue by 227.7% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 61,091,189 shares of the company’s stock worth $1,226,711,000 after acquiring an additional 42,449,470 shares in the last quarter. Finally, Morgan Stanley raised its position in shares of Kenvue by 4,057.4% in the 3rd quarter. Morgan Stanley now owns 31,162,614 shares of the company’s stock worth $625,745,000 after acquiring an additional 30,413,040 shares in the last quarter. Institutional investors own 97.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on KVUE shares. Sanford C. Bernstein started coverage on Kenvue in a research report on Thursday, April 11th. They issued an “underperform” rating and a $18.00 target price for the company. Royal Bank of Canada decreased their target price on Kenvue from $25.00 to $24.00 and set an “outperform” rating for the company in a research report on Friday, February 9th. The Goldman Sachs Group initiated coverage on Kenvue in a research note on Friday, March 1st. They issued a “neutral” rating and a $20.00 price target on the stock. JPMorgan Chase & Co. cut their price target on Kenvue from $25.00 to $24.00 and set an “overweight” rating on the stock in a research note on Friday, February 9th. Finally, William Blair initiated coverage on Kenvue in a research note on Wednesday, April 3rd. They issued a “market perform” rating on the stock. One research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, Kenvue presently has an average rating of “Hold” and an average target price of $24.85.

Kenvue Price Performance

Shares of KVUE opened at $19.27 on Thursday. The business’s fifty day simple moving average is $19.83 and its two-hundred day simple moving average is $20.17. The company has a current ratio of 1.12, a quick ratio of 0.78 and a debt-to-equity ratio of 0.69. Kenvue Inc. has a 12 month low of $17.82 and a 12 month high of $27.80.

Kenvue (NYSE:KVUE) last issued its earnings results on Thursday, February 8th. The company reported $0.31 EPS for the quarter, beating the consensus estimate of $0.28 by $0.03. The business had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.78 billion. Kenvue had a return on equity of 15.62% and a net margin of 9.87%. Kenvue’s quarterly revenue was down 2.7% on a year-over-year basis. On average, equities analysts expect that Kenvue Inc. will post 1.15 earnings per share for the current year.

Kenvue Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 28th. Investors of record on Wednesday, February 14th were issued a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, February 13th. This represents a $0.80 dividend on an annualized basis and a yield of 4.15%.

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.