Costello Asset Management INC Makes New $226,000 Investment in Kenvue Inc. (NYSE:KVUE)

Costello Asset Management INC acquired a new stake in Kenvue Inc. (NYSE:KVUE) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 9,415 shares of the company’s stock, valued at approximately $226,000.

Several other large investors have also recently made changes to their positions in KVUE. Price T Rowe Associates Inc. MD boosted its holdings in shares of Kenvue by 3.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 245,885,918 shares of the company’s stock worth $5,249,665,000 after buying an additional 8,211,748 shares during the last quarter. Starboard Value LP bought a new stake in Kenvue in the fourth quarter worth about $467,864,000. Northern Trust Corp boosted its stake in Kenvue by 15.4% in the fourth quarter. Northern Trust Corp now owns 20,948,704 shares of the company’s stock valued at $447,255,000 after acquiring an additional 2,796,306 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Kenvue by 19.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 18,924,179 shares of the company’s stock valued at $404,002,000 after acquiring an additional 3,025,924 shares during the period. Finally, Invesco Ltd. grew its position in shares of Kenvue by 13.1% during the 4th quarter. Invesco Ltd. now owns 16,986,272 shares of the company’s stock valued at $362,657,000 after acquiring an additional 1,961,051 shares during the period. 97.64% of the stock is owned by hedge funds and other institutional investors.

Kenvue Stock Performance

NYSE:KVUE opened at $22.26 on Tuesday. The business’s fifty day moving average is $21.82 and its 200 day moving average is $22.40. The firm has a market cap of $42.70 billion, a price-to-earnings ratio of 40.46, a PEG ratio of 3.62 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 Inc. has a 52-week low of $18.10 and a 52-week high of $25.17.

Kenvue (NYSE:KVUE) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.24 earnings per share for the quarter, beating 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 firm had revenue of $3.74 billion for the quarter, compared to analysts’ expectations of $3.69 billion. During the same period in the prior year, the business posted $0.28 earnings per share. The company’s revenue was down 3.9% on a year-over-year basis. Research analysts predict that Kenvue Inc. will post 1.14 EPS for the current year.

Kenvue Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 27th. Shareholders of record on Wednesday, August 13th will be paid a $0.2075 dividend. The ex-dividend date is Wednesday, August 13th. This represents a $0.83 annualized dividend and a yield of 3.7%. This is a boost from Kenvue’s previous quarterly dividend of $0.21. Kenvue’s dividend payout ratio is currently 149.09%.

Analyst Upgrades and Downgrades

KVUE has been the topic of a number of research reports. Citigroup lowered 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 assumed coverage on Kenvue in a research report on Thursday, April 10th. They issued a “neutral” rating and a $23.50 target price for the company. Barclays lowered their target price on Kenvue from $23.00 to $22.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 15th. JPMorgan Chase & Co. cut their price target on Kenvue from $27.00 to $26.00 and set an “overweight” rating for the company in a research note on Friday, July 25th. Finally, Bank of America decreased their price objective on Kenvue from $27.00 to $25.00 and set a “buy” rating for the company in a report on Tuesday, July 15th. Seven analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Kenvue currently has an average rating of “Hold” and a consensus target price of $24.79.

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.