Malaga Cove Capital LLC Takes Position in Kenvue Inc. (NYSE:KVUE)

Malaga Cove Capital LLC acquired a new stake in Kenvue Inc. (NYSE:KVUE) during the 4th quarter, HoldingsChannel reports. The firm acquired 11,975 shares of the company’s stock, valued at approximately $256,000.

Other institutional investors have also bought and sold shares of the company. Czech National Bank lifted its position in shares of Kenvue by 6.6% during the fourth quarter. Czech National Bank now owns 415,700 shares of the company’s stock worth $8,875,000 after acquiring an additional 25,561 shares in the last quarter. Wedmont Private Capital lifted its position in shares of Kenvue by 11.5% during the fourth quarter. Wedmont Private Capital now owns 13,044 shares of the company’s stock worth $272,000 after acquiring an additional 1,344 shares in the last quarter. Pines Wealth Management LLC purchased a new stake in shares of Kenvue during the fourth quarter worth $237,000. Oak Thistle LLC raised its position in shares of Kenvue by 13.9% in the fourth quarter. Oak Thistle LLC now owns 31,150 shares of the company’s stock worth $665,000 after buying an additional 3,803 shares in the last quarter. Finally, Allen Mooney & Barnes Investment Advisors LLC purchased a new stake in shares of Kenvue in the fourth quarter worth $11,671,000. Hedge funds and other institutional investors own 97.64% of the company’s stock.

Kenvue Stock Down 1.7%

NYSE KVUE opened at $23.26 on Thursday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.00 and a quick ratio of 0.69. The stock has a market capitalization of $44.63 billion, a PE ratio of 43.89, a PEG ratio of 2.62 and a beta of 1.02. Kenvue Inc. has a 1 year low of $17.67 and a 1 year high of $25.17. The business’s 50-day moving average is $23.15 and its 200 day moving average is $22.58.

Kenvue (NYSE:KVUE) last posted its earnings results on Thursday, May 8th. The company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.01. The company had revenue of $3.74 billion for the quarter, compared to analysts’ expectations of $3.69 billion. Kenvue had a return on equity of 20.97% and a net margin of 6.66%. Kenvue’s quarterly revenue was down 3.9% on a year-over-year basis. During the same period last year, the firm earned $0.28 earnings per share. Sell-side analysts forecast that Kenvue Inc. will post 1.14 earnings per share for the current year.

Kenvue Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 28th. Shareholders of record on Wednesday, May 14th will be issued 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 dividend yield of 3.53%. Kenvue’s dividend payout ratio (DPR) is 149.09%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Barclays increased their price objective on Kenvue from $22.00 to $23.00 and gave the stock an “equal weight” rating in a research report on Monday. Citigroup raised their price target on Kenvue from $22.00 to $24.50 and gave the company a “neutral” rating in a research report on Friday, May 9th. Piper Sandler raised their price target on Kenvue from $24.00 to $27.00 and gave the company an “overweight” rating in a research report on Monday, February 24th. Royal Bank of Canada restated a “sector perform” rating and set a $24.00 price target on shares of Kenvue in a research report on Monday, February 3rd. Finally, Redburn Atlantic began coverage on Kenvue in a research report on Thursday, April 10th. They set a “neutral” rating and a $23.50 price target on the stock. Seven investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $25.33.

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.