Allen Wealth Management LLC Purchases 6,001 Shares of Kenvue Inc. (NYSE:KVUE)

Allen Wealth Management LLC grew its position in shares of Kenvue Inc. (NYSE:KVUE) by 7.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 82,559 shares of the company’s stock after buying an additional 6,001 shares during the quarter. Kenvue accounts for 1.3% of Allen Wealth Management LLC’s portfolio, making the stock its 17th largest position. Allen Wealth Management LLC’s holdings in Kenvue were worth $1,763,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Westpac Banking Corp increased its holdings in Kenvue by 68.5% in the 4th quarter. Westpac Banking Corp now owns 325,615 shares of the company’s stock worth $6,952,000 after buying an additional 132,327 shares in the last quarter. Bryce Point Capital LLC purchased a new stake in shares of Kenvue during the 4th quarter valued at about $469,000. Huntington National Bank grew its stake in shares of Kenvue by 44.4% in the fourth quarter. Huntington National Bank now owns 6,007 shares of the company’s stock worth $128,000 after acquiring an additional 1,846 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in shares of Kenvue by 12.3% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 97,661,344 shares of the company’s stock valued at $2,085,070,000 after purchasing an additional 10,682,003 shares during the last quarter. Finally, Headlands Technologies LLC lifted its position in Kenvue by 231.2% during the fourth quarter. Headlands Technologies LLC now owns 34,317 shares of the company’s stock valued at $733,000 after purchasing an additional 23,957 shares during the period. Institutional investors own 97.64% of the company’s stock.

Kenvue Stock Down 0.0 %

Shares of KVUE stock opened at $23.87 on Thursday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.00 and a quick ratio of 0.69. Kenvue Inc. has a one year low of $17.67 and a one year high of $24.46. The company’s fifty day moving average price is $22.50 and its 200-day moving average price is $22.47. The company has a market capitalization of $45.62 billion, a price-to-earnings ratio of 45.04, a PEG ratio of 2.62 and a beta of 1.25.

Kenvue (NYSE:KVUE) last announced its quarterly earnings data on Thursday, February 6th. The company reported $0.26 EPS for the quarter, meeting the consensus estimate of $0.26. Kenvue had a return on equity of 20.97% and a net margin of 6.66%. Sell-side analysts expect that Kenvue Inc. will post 1.14 EPS for the current fiscal year.

Kenvue Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th were given a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a dividend yield of 3.44%. The ex-dividend date of this dividend was Wednesday, February 12th. Kenvue’s payout ratio is currently 154.72%.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Deutsche Bank Aktiengesellschaft downgraded shares of Kenvue from a “buy” rating to a “hold” rating and cut their target price for the stock from $25.00 to $24.00 in a research report on Thursday, December 12th. Canaccord Genuity Group upped their price objective on Kenvue from $24.00 to $29.00 and gave the company a “buy” rating in a research report on Wednesday, March 5th. Barclays raised their target price on Kenvue from $21.00 to $23.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 27th. UBS Group reduced their price target on shares of Kenvue from $23.00 to $21.00 and set a “neutral” rating for the company in a research report on Friday, February 7th. Finally, Evercore ISI began coverage on shares of Kenvue in a report on Monday, March 24th. They issued an “in-line” rating and a $25.00 price objective on the stock. One analyst has rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $24.00.

About Kenvue

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.