Kovack Advisors Inc. Sells 668 Shares of Kenvue Inc. (NYSE:KVUE)

Kovack Advisors Inc. cut its stake in shares of Kenvue Inc. (NYSE:KVUE) by 5.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,847 shares of the company’s stock after selling 668 shares during the period. Kovack Advisors Inc.’s holdings in Kenvue were worth $284,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Pittenger & Anderson Inc. bought a new position in Kenvue during the 1st quarter valued at $30,000. TruNorth Capital Management LLC bought a new stake in shares of Kenvue during the 1st quarter worth $36,000. Bank Julius Baer & Co. Ltd Zurich boosted its holdings in shares of Kenvue by 120.6% in the 1st quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,699 shares of the company’s stock worth $41,000 after buying an additional 929 shares during the last quarter. Continuum Advisory LLC boosted 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 worth $47,000 after buying an additional 1,864 shares during the last quarter. Finally, Clarity Asset Management Inc. purchased a new position in shares of Kenvue in the 4th quarter worth about $45,000. 97.64% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

KVUE has been the topic of a number of research analyst reports. Citigroup cut their price target on shares of Kenvue from $24.50 to $22.00 and set a “neutral” rating on the stock in a report on Tuesday, July 15th. Redburn Atlantic initiated coverage on shares of Kenvue in a report on Thursday, April 10th. They issued a “neutral” rating and a $23.50 price target on the stock. JPMorgan Chase & Co. cut their price target on shares of Kenvue from $27.00 to $26.00 and set an “overweight” rating on the stock in a report on Friday. Bank of America cut their price target on shares of Kenvue from $27.00 to $25.00 and set a “buy” rating on the stock in a report on Tuesday, July 15th. Finally, Barclays cut their price target on shares of Kenvue from $23.00 to $22.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 15th. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $24.79.

Kenvue Trading Up 1.5%

Shares of Kenvue stock opened at $22.84 on Friday. Kenvue Inc. has a 52-week low of $18.10 and a 52-week high of $25.17. The stock’s 50-day simple moving average is $22.02 and its 200 day simple moving average is $22.36. The stock has a market capitalization of $43.82 billion, a P/E ratio of 41.53, a P/E/G ratio of 3.81 and a beta of 0.83. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.60 and a current ratio of 0.86.

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

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.