Wahed Invest LLC Purchases 3,024 Shares of Kenvue Inc. (NYSE:KVUE)

Wahed Invest LLC raised its position in shares of Kenvue Inc. (NYSE:KVUE) by 6.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 49,525 shares of the company’s stock after purchasing an additional 3,024 shares during the quarter. Wahed Invest LLC’s holdings in Kenvue were worth $1,057,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Grove Bank & Trust lifted its position in Kenvue by 438.4% during the fourth quarter. Grove Bank & Trust now owns 1,163 shares of the company’s stock valued at $25,000 after purchasing an additional 947 shares in the last quarter. Geneos Wealth Management Inc. purchased a new position in shares of Kenvue during the 4th quarter valued at about $29,000. SRS Capital Advisors Inc. lifted its position in shares of Kenvue by 67.4% during the 4th quarter. SRS Capital Advisors Inc. now owns 1,418 shares of the company’s stock valued at $30,000 after buying an additional 571 shares in the last quarter. Fortitude Family Office LLC grew its stake in shares of Kenvue by 106.6% during the 4th quarter. Fortitude Family Office LLC now owns 1,506 shares of the company’s stock valued at $32,000 after acquiring an additional 777 shares during the period. Finally, Versant Capital Management Inc increased its holdings in Kenvue by 300.8% in the 4th quarter. Versant Capital Management Inc now owns 1,920 shares of the company’s stock worth $41,000 after acquiring an additional 1,441 shares in the last quarter. Hedge funds and other institutional investors own 97.64% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on KVUE. Redburn Atlantic assumed coverage on shares of Kenvue in a research report on Thursday, April 10th. They issued a “neutral” rating and a $23.50 price target for the company. Barclays dropped their target price on shares of Kenvue from $23.00 to $22.00 and set an “equal weight” rating for the company in a report on Monday, April 14th. Royal Bank of Canada reissued a “sector perform” rating and set a $24.00 price target on shares of Kenvue in a report on Monday, February 3rd. Citigroup upped their price objective on Kenvue from $21.00 to $22.00 and gave the stock a “neutral” rating in a research note on Monday, April 14th. Finally, Piper Sandler lifted their target price on Kenvue from $24.00 to $27.00 and gave the company an “overweight” rating in a research note on Monday, February 24th. Eight analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Kenvue has a consensus rating of “Hold” and a consensus target price of $24.42.

Kenvue Stock Up 1.5 %

NYSE KVUE opened at $23.95 on Friday. The stock has a 50 day moving average price of $23.08 and a 200-day moving average price of $22.49. Kenvue Inc. has a one year low of $17.67 and a one year high of $24.46. The company has a market capitalization of $45.94 billion, a P/E ratio of 45.18, a P/E/G ratio of 2.62 and a beta of 1.02. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.69 and a current ratio of 1.00.

Kenvue (NYSE:KVUE) last issued its quarterly earnings data on Thursday, February 6th. The company reported $0.26 EPS for the quarter, hitting analysts’ consensus estimates of $0.26. Kenvue had a net margin of 6.66% and a return on equity of 20.97%. As a group, equities analysts predict that Kenvue Inc. will post 1.14 EPS for the current fiscal year.

Kenvue Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 28th. Shareholders of record on Wednesday, May 14th will be given a dividend of $0.205 per share. The ex-dividend date is Wednesday, May 14th. This represents a $0.82 dividend on an annualized basis and a yield of 3.42%. Kenvue’s dividend payout ratio (DPR) is presently 154.72%.

Kenvue Company 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.