288,550 Shares in Kenvue Inc. (NYSE:KVUE) Bought by Alpha Omega Wealth Management LLC

Alpha Omega Wealth Management LLC purchased a new stake in Kenvue Inc. (NYSE:KVUE) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 288,550 shares of the company’s stock, valued at approximately $6,919,000. Kenvue comprises about 1.3% of Alpha Omega Wealth Management LLC’s holdings, making the stock its 19th biggest holding.

Several other large investors have also bought and sold shares of KVUE. Focus Financial Network Inc. raised its holdings in shares of Kenvue by 9.5% in the first quarter. Focus Financial Network Inc. now owns 12,624 shares of the company’s stock valued at $303,000 after purchasing an additional 1,095 shares during the last quarter. Bard Financial Services Inc. grew its position in Kenvue by 16.1% in the 1st quarter. Bard Financial Services Inc. now owns 126,290 shares of the company’s stock worth $3,028,000 after purchasing an additional 17,500 shares in the last quarter. CX Institutional bought a new stake in Kenvue in the 1st quarter worth about $185,000. Assenagon Asset Management S.A. increased its stake in Kenvue by 4.8% in the 1st quarter. Assenagon Asset Management S.A. now owns 884,348 shares of the company’s stock valued at $21,207,000 after buying an additional 40,447 shares during the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of Kenvue by 33.2% during the 1st quarter. GAMMA Investing LLC now owns 24,778 shares of the company’s stock worth $594,000 after buying an additional 6,169 shares in the last quarter. 97.64% of the stock is currently owned by institutional investors.

Kenvue Trading Up 1.0%

Shares of KVUE stock opened at $21.51 on Wednesday. The business has a 50-day moving average price of $23.03 and a two-hundred day moving average price of $22.54. Kenvue Inc. has a 12-month low of $17.67 and a 12-month 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 firm has a market cap of $41.26 billion, a P/E ratio of 40.58, a price-to-earnings-growth ratio of 2.62 and a beta of 0.98.

Kenvue (NYSE:KVUE) last issued 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. Kenvue had a return on equity of 20.97% and a net margin of 6.66%. The business had revenue of $3.74 billion during the quarter, compared to analyst estimates of $3.69 billion. During the same quarter in the prior year, the firm earned $0.28 earnings per share. Kenvue’s revenue for the quarter was down 3.9% on a year-over-year basis. Equities analysts anticipate that Kenvue Inc. will post 1.14 EPS for the current fiscal year.

Kenvue Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 28th. Stockholders of record on Wednesday, May 14th were issued a $0.205 dividend. The ex-dividend date was Wednesday, May 14th. This represents a $0.82 annualized dividend and a dividend yield of 3.81%. Kenvue’s dividend payout ratio is currently 149.09%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Canaccord Genuity Group upped their target price on Kenvue from $24.00 to $29.00 and gave the company a “buy” rating in a report on Wednesday, March 5th. Piper Sandler boosted their price objective on Kenvue from $24.00 to $27.00 and gave the stock an “overweight” rating in a research report on Monday, February 24th. Citigroup raised their target price on Kenvue from $22.00 to $24.50 and gave the company a “neutral” rating in a research report on Friday, May 9th. UBS Group boosted their price target on shares of Kenvue from $24.00 to $25.00 and gave the stock a “neutral” rating in a report on Friday, May 9th. Finally, Redburn Atlantic initiated coverage on shares of Kenvue in a research report on Thursday, April 10th. They set a “neutral” rating and a $23.50 price target for the company. Seven analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Kenvue presently has an average rating of “Hold” and an average price target of $25.33.

About Kenvue

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.