Wealthfront Advisers LLC Acquires 47,362 Shares of Kenvue Inc. $KVUE

Wealthfront Advisers LLC boosted its holdings in Kenvue Inc. (NYSE:KVUE) by 15.4% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 354,075 shares of the company’s stock after acquiring an additional 47,362 shares during the quarter. Wealthfront Advisers LLC’s holdings in Kenvue were worth $6,104,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. boosted its position in shares of Kenvue by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 234,951,484 shares of the company’s stock valued at $4,052,913,000 after acquiring an additional 1,604,040 shares during the last quarter. State Street Corp increased its position in shares of Kenvue by 3.5% in the fourth quarter. State Street Corp now owns 118,865,134 shares of the company’s stock worth $2,050,424,000 after purchasing an additional 4,063,257 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Kenvue by 0.8% in the fourth quarter. Geode Capital Management LLC now owns 49,862,574 shares of the company’s stock worth $856,778,000 after purchasing an additional 371,322 shares during the last quarter. Independent Franchise Partners LLP raised its stake in Kenvue by 56.3% in the fourth quarter. Independent Franchise Partners LLP now owns 48,146,476 shares of the company’s stock valued at $830,527,000 after purchasing an additional 17,343,785 shares in the last quarter. Finally, Norges Bank purchased a new stake in Kenvue in the fourth quarter valued at approximately $756,862,000. Hedge funds and other institutional investors own 97.64% of the company’s stock.

Kenvue Stock Performance

NYSE:KVUE opened at $18.94 on Friday. The company has a market capitalization of $36.37 billion, a price-to-earnings ratio of 22.28, a PEG ratio of 1.44 and a beta of 0.47. The business has a 50 day moving average of $18.20 and a 200 day moving average of $17.85. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.98 and a quick ratio of 0.70. Kenvue Inc. has a 1-year low of $14.02 and a 1-year high of $22.87.

Kenvue (NYSE:KVUE) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.05. The business had revenue of $3.91 billion for the quarter, compared to analysts’ expectations of $3.84 billion. Kenvue had a net margin of 10.61% and a return on equity of 20.81%. The business’s quarterly revenue was up 4.5% on a year-over-year basis. During the same period last year, the business earned $0.24 earnings per share. On average, sell-side analysts predict that Kenvue Inc. will post 1.16 earnings per share for the current fiscal year.

Kenvue Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 27th. Stockholders of record on Wednesday, May 13th were paid a $0.2075 dividend. The ex-dividend date of this dividend was Wednesday, May 13th. This represents a $0.83 dividend on an annualized basis and a dividend yield of 4.4%. Kenvue’s dividend payout ratio is 97.65%.

Insider Activity at Kenvue

In related news, General Counsel Matthew Orlando sold 38,491 shares of the stock in a transaction on Friday, May 8th. The shares were sold at an average price of $17.66, for a total transaction of $679,751.06. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 1.59% of the company’s stock.

Wall Street Analysts Forecast Growth

KVUE has been the subject of a number of research reports. UBS Group boosted their price target on shares of Kenvue from $18.00 to $20.00 and gave the stock a “neutral” rating in a research note on Thursday. Weiss Ratings upgraded shares of Kenvue from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, June 15th. Citigroup dropped their price objective on shares of Kenvue from $20.00 to $19.00 and set a “neutral” rating for the company in a report on Wednesday, April 15th. Zacks Research lowered shares of Kenvue from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 7th. Finally, Barclays reduced their target price on Kenvue from $19.00 to $18.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 14th. Three investment analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $19.50.

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.