Empowered Funds LLC Invests $3.89 Million in Kenvue Inc. $KVUE

Empowered Funds LLC acquired a new stake in shares of Kenvue Inc. (NYSE:KVUE) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 203,609 shares of the company’s stock, valued at approximately $3,891,000.

Other hedge funds have also recently made changes to their positions in the company. Elyxium Wealth LLC acquired a new stake in Kenvue during the 4th quarter worth about $26,000. Johnson Financial Group Inc. acquired a new position in shares of Kenvue in the second quarter valued at about $26,000. MV Capital Management Inc. acquired a new position in shares of Kenvue in the fourth quarter valued at about $28,000. CoreCap Advisors LLC increased its holdings in shares of Kenvue by 64.9% in the second quarter. CoreCap Advisors LLC now owns 1,502 shares of the company’s stock valued at $29,000 after purchasing an additional 591 shares during the period. Finally, Reflection Asset Management purchased a new position in shares of Kenvue in the fourth quarter worth about $32,000. 97.64% of the stock is owned by institutional investors and hedge funds.

Kenvue Price Performance

Shares of NYSE KVUE opened at $18.77 on Wednesday. The stock has a market capitalization of $36.05 billion, a price-to-earnings ratio of 21.57, a PEG ratio of 1.35 and a beta of 0.46. Kenvue Inc. has a 12 month low of $14.02 and a 12 month high of $20.82. The firm’s 50 day simple moving average is $19.19 and its 200-day simple moving average is $18.25. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.01 and a quick ratio of 0.71.

Kenvue (NYSE:KVUE) last posted its earnings results on Thursday, August 6th. The company reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.01). Kenvue had a net margin of 10.76% and a return on equity of 21.22%. The firm had revenue of $3.96 billion during the quarter, compared to analyst estimates of $3.97 billion. During the same quarter in the prior year, the firm earned $0.29 earnings per share. The business’s revenue for the quarter was up 3.0% on a year-over-year basis. Analysts expect that Kenvue Inc. will post 1.14 EPS for the current year.

Kenvue Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 26th. Shareholders of record on Wednesday, August 12th were issued a $0.21 dividend. The ex-dividend date of this dividend was Wednesday, August 12th. This is a positive change from Kenvue’s previous quarterly dividend of $0.21. This represents a $0.84 dividend on an annualized basis and a yield of 4.5%. Kenvue’s dividend payout ratio is presently 96.55%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on KVUE. Barclays upped their target price on Kenvue from $18.00 to $19.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 21st. Weiss Ratings raised shares of Kenvue from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, June 15th. UBS Group dropped their price objective on shares of Kenvue from $20.00 to $19.00 and set a “neutral” rating on the stock in a report on Tuesday, August 11th. Wall Street Zen lowered shares of Kenvue from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Finally, Zacks Research lowered shares of Kenvue from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 7th. Three investment analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. According to data from MarketBeat.com, Kenvue currently has an average rating of “Hold” and a consensus target price of $19.27.

Kenvue Profile

Kenvue is a consumer health company that was established as a standalone, publicly traded business after separating from Johnson & Johnson. Listed on the New York Stock Exchange under the symbol KVUE, Kenvue focuses on the development, manufacture, marketing and distribution of consumer health and personal care products across a range of categories including skin and beauty care, baby care, oral care, wound care and over‑the‑counter medicines.

The company owns and markets a portfolio of widely recognized consumer brands, including names familiar to global shoppers across retail and pharmacy channels.