AlphaStar Capital Management LLC Purchases 781 Shares of Kenvue Inc. (NYSE:KVUE)

AlphaStar Capital Management LLC raised its stake in shares of Kenvue Inc. (NYSE:KVUE) by 3.4% in the first quarter, Holdings Channel reports. The institutional investor owned 23,586 shares of the company’s stock after buying an additional 781 shares during the quarter. AlphaStar Capital Management LLC’s holdings in Kenvue were worth $566,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Continuum Advisory LLC raised its holdings in shares of Kenvue by 2,071.1% in the 1st quarter. Continuum Advisory LLC now owns 1,954 shares of the company’s stock valued at $47,000 after acquiring an additional 1,864 shares in the last quarter. Clarity Asset Management Inc. purchased a new stake in shares of Kenvue in the 4th quarter valued at about $45,000. SBI Securities Co. Ltd. purchased a new stake in shares of Kenvue in the 4th quarter valued at about $46,000. Rossby Financial LCC purchased a new position in shares of Kenvue during the 1st quarter valued at about $52,000. Finally, Golden State Wealth Management LLC raised its holdings in shares of Kenvue by 292.0% during the 1st quarter. Golden State Wealth Management LLC now owns 3,081 shares of the company’s stock valued at $74,000 after buying an additional 2,295 shares in the last quarter. Hedge funds and other institutional investors own 97.64% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on KVUE. Citigroup restated a “neutral” rating on shares of Kenvue in a research report on Friday, June 13th. Barclays raised their price target on Kenvue from $22.00 to $23.00 and gave the stock an “equal weight” rating in a research report on Monday, May 12th. UBS Group raised their price target on Kenvue from $24.00 to $25.00 and gave the stock a “neutral” rating in a research report on Friday, May 9th. Redburn Atlantic initiated coverage on Kenvue in a research report on Thursday, April 10th. They issued a “neutral” rating and a $23.50 price objective on the stock. Finally, Evercore ISI initiated coverage on Kenvue in a research report on Monday, March 24th. They issued an “in-line” rating and a $25.00 price objective on the stock. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Kenvue currently has an average rating of “Hold” and a consensus target price of $25.33.

Kenvue Stock Down 0.7%

Shares of NYSE:KVUE opened at $20.75 on Tuesday. The stock has a fifty day simple moving average of $22.57 and a two-hundred day simple moving average of $22.32. The stock has a market capitalization of $39.82 billion, a price-to-earnings ratio of 37.70, a PEG ratio of 3.27 and a beta of 0.83. Kenvue Inc. has a 12-month low of $17.67 and a 12-month high of $25.17. The company has a current ratio of 0.86, a quick ratio of 0.60 and a debt-to-equity ratio of 0.63.

Kenvue (NYSE:KVUE) last issued its quarterly earnings data on Thursday, May 8th. The company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.23 by $0.01. Kenvue had a return on equity of 20.87% and a net margin of 6.90%. The company had revenue of $3.74 billion during the quarter, compared to analyst estimates of $3.69 billion. During the same quarter in the previous year, the company posted $0.28 earnings per share. Kenvue’s revenue was down 3.9% compared to the same quarter last year. On average, research analysts anticipate that Kenvue Inc. will post 1.14 earnings per share for the current fiscal year.

Kenvue Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 28th. Investors of record on Wednesday, May 14th were paid a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a yield of 3.95%. The ex-dividend date was Wednesday, May 14th. Kenvue’s dividend payout ratio (DPR) is presently 149.09%.

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.