Sunbelt Securities Inc. Increases Stake in Kenvue Inc. (NYSE:KVUE)

Sunbelt Securities Inc. boosted its stake in shares of Kenvue Inc. (NYSE:KVUE) by 3.1% in the third quarter, Holdings Channel reports. The institutional investor owned 29,671 shares of the company’s stock after acquiring an additional 905 shares during the period. Sunbelt Securities Inc.’s holdings in Kenvue were worth $686,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Leo Wealth LLC increased its position in shares of Kenvue by 0.3% in the third quarter. Leo Wealth LLC now owns 151,611 shares of the company’s stock valued at $3,507,000 after buying an additional 481 shares in the last quarter. Alerus Financial NA lifted its position in Kenvue by 0.3% in the third quarter. Alerus Financial NA now owns 191,345 shares of the company’s stock valued at $4,426,000 after buying an additional 491 shares during the last quarter. Massmutual Trust Co. FSB ADV raised its holdings in shares of Kenvue by 6.2% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 8,400 shares of the company’s stock valued at $194,000 after buying an additional 492 shares during the period. Wolff Wiese Magana LLC grew its stake in shares of Kenvue by 0.7% in the third quarter. Wolff Wiese Magana LLC now owns 76,999 shares of the company’s stock worth $1,781,000 after acquiring an additional 501 shares in the last quarter. Finally, Marathon Capital Management increased its stake in shares of Kenvue by 0.3% during the second quarter. Marathon Capital Management now owns 149,699 shares of the company’s stock worth $2,722,000 after buying an additional 514 shares during the period. 97.64% of the stock is currently owned by hedge funds and other institutional investors.

Kenvue Stock Performance

Kenvue stock opened at $22.32 on Friday. The firm has a market capitalization of $42.79 billion, a PE ratio of 40.58, a price-to-earnings-growth ratio of 2.02 and a beta of 1.36. The stock’s 50 day moving average price is $22.95 and its 200 day moving average price is $21.17. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.69 and a current ratio of 1.00. Kenvue Inc. has a one year low of $17.67 and a one year high of $24.46.

Kenvue (NYSE:KVUE) last posted its quarterly earnings data on Thursday, November 7th. The company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.01. The company had revenue of $3.90 billion for the quarter, compared to the consensus estimate of $3.92 billion. Kenvue had a return on equity of 21.43% and a net margin of 6.88%. Kenvue’s revenue for the quarter was down .4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.31 EPS. As a group, sell-side analysts expect that Kenvue Inc. will post 1.07 EPS for the current fiscal year.

Kenvue Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th were issued a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a yield of 3.67%. The ex-dividend date of this dividend was Wednesday, November 13th. Kenvue’s dividend payout ratio is presently 149.09%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Piper Sandler boosted their price target on shares of Kenvue from $20.00 to $21.00 and gave the company a “neutral” rating in a research report on Monday, September 23rd. Royal Bank of Canada upgraded Kenvue from a “hold” rating to a “moderate buy” rating in a report on Monday. Deutsche Bank Aktiengesellschaft lowered shares of Kenvue from a “buy” rating to a “hold” rating and lowered their price target for the company from $25.00 to $24.00 in a research report on Thursday. Jefferies Financial Group initiated coverage on shares of Kenvue in a research note on Tuesday, September 24th. They issued a “buy” rating and a $27.00 target price for the company. Finally, Bank of America lifted their price objective on Kenvue from $24.00 to $27.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Kenvue presently has an average rating of “Hold” and a consensus target price of $22.64.

Kenvue Company 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.