Azzad Asset Management Inc. ADV Grows Holdings in Kenvue Inc. (NYSE:KVUE)

Azzad Asset Management Inc. ADV lifted its holdings in Kenvue Inc. (NYSE:KVUE) by 3.0% in the fourth quarter, HoldingsChannel reports. The firm owned 291,915 shares of the company’s stock after buying an additional 8,532 shares during the quarter. Kenvue makes up approximately 1.2% of Azzad Asset Management Inc. ADV’s holdings, making the stock its 11th biggest holding. Azzad Asset Management Inc. ADV’s holdings in Kenvue were worth $6,232,000 as of its most recent filing with the SEC.

Other institutional investors have also recently made changes to their positions in the company. Merit Financial Group LLC acquired a new position in Kenvue during the 4th quarter worth approximately $237,000. LaFleur & Godfrey LLC lifted its position in shares of Kenvue by 29.8% during the 4th quarter. LaFleur & Godfrey LLC now owns 81,300 shares of the company’s stock worth $1,736,000 after buying an additional 18,650 shares during the last quarter. Atomi Financial Group Inc. raised its position in Kenvue by 28.1% in the 4th quarter. Atomi Financial Group Inc. now owns 11,730 shares of the company’s stock valued at $250,000 after purchasing an additional 2,571 shares during the last quarter. Dakota Wealth Management raised its position in Kenvue by 25.6% in the 4th quarter. Dakota Wealth Management now owns 14,454 shares of the company’s stock valued at $309,000 after purchasing an additional 2,947 shares during the last quarter. Finally, RFG Advisory LLC purchased a new stake in Kenvue in the 4th quarter valued at $324,000. Institutional investors and hedge funds own 97.64% of the company’s stock.

Kenvue Stock Up 1.1%

Shares of NYSE:KVUE opened at $23.76 on Monday. Kenvue Inc. has a 52-week low of $17.67 and a 52-week high of $25.17. The company has a quick ratio of 0.69, a current ratio of 1.00 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $45.59 billion, a price-to-earnings ratio of 44.83, a price-to-earnings-growth ratio of 2.62 and a beta of 1.02. The company has a 50 day moving average of $23.23 and a two-hundred day moving average of $22.62.

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

Kenvue Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 28th. Investors of record on Wednesday, May 14th will be paid a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a dividend yield of 3.45%. The ex-dividend date is Wednesday, May 14th. Kenvue’s dividend payout ratio is currently 149.09%.

Analysts Set New Price Targets

A number of brokerages have commented on KVUE. Royal Bank of Canada restated a “sector perform” rating and set a $24.00 price objective on shares of Kenvue in a research report on Monday, February 3rd. Evercore ISI began coverage on shares of Kenvue in a research note on Monday, March 24th. They set an “in-line” rating and a $25.00 price target on the stock. Barclays upped their price target on shares of Kenvue from $22.00 to $23.00 and gave the stock an “equal weight” rating in a research note on Monday, May 12th. Citigroup increased their price objective on shares of Kenvue from $22.00 to $24.50 and gave the company a “neutral” rating in a research note on Friday, May 9th. Finally, Piper Sandler increased their price objective on shares of Kenvue from $24.00 to $27.00 and gave the company an “overweight” rating in a research note on Monday, February 24th. Seven analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $25.33.

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.