NewEdge Wealth LLC Buys Shares of 53,681 Kenvue Inc. $KVUE

NewEdge Wealth LLC purchased a new stake in Kenvue Inc. (NYSE:KVUE) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 53,681 shares of the company’s stock, valued at approximately $1,026,000.

Other hedge funds have also recently modified their holdings of the company. BlackRock Inc. purchased a new position in Kenvue during the second quarter valued at approximately $2,882,279,000. Norges Bank purchased a new stake in Kenvue during the fourth quarter worth $756,862,000. Independent Franchise Partners LLP lifted its holdings in Kenvue by 56.3% during the fourth quarter. Independent Franchise Partners LLP now owns 48,146,476 shares of the company’s stock worth $830,527,000 after buying an additional 17,343,785 shares during the period. Sculptor Capital LP boosted its position in Kenvue by 1,023.5% during the 4th quarter. Sculptor Capital LP now owns 12,886,328 shares of the company’s stock valued at $222,289,000 after acquiring an additional 11,739,328 shares in the last quarter. Finally, Bank of New York Mellon Corp bought a new stake in Kenvue during the 2nd quarter valued at $192,080,000. Hedge funds and other institutional investors own 97.64% of the company’s stock.

Analysts Set New Price Targets

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

Kenvue Stock Performance

Shares of KVUE stock opened at $19.08 on Friday. The business’s fifty day simple moving average is $19.05 and its 200-day simple moving average is $18.19. The company has a market cap of $36.65 billion, a PE ratio of 21.93, a PEG ratio of 1.36 and a beta of 0.47. The company has a current ratio of 1.01, a quick ratio of 0.71 and a debt-to-equity ratio of 0.67. Kenvue Inc. has a 12-month low of $14.02 and a 12-month high of $21.78.

Kenvue (NYSE:KVUE) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.31 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 business had revenue of $3.96 billion for the quarter, compared to analysts’ expectations of $3.97 billion. During the same quarter in the prior year, the company posted $0.29 EPS. 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 earnings per share for the current fiscal year.

Kenvue Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Shareholders of record on Wednesday, August 12th will be issued a $0.21 dividend. This is a boost from Kenvue’s previous quarterly dividend of $0.21. This represents a $0.84 annualized dividend and a yield of 4.4%. The ex-dividend date of this dividend is Wednesday, August 12th. Kenvue’s dividend payout ratio is 96.55%.

About Kenvue

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.