Cornerstone Wealth Group LLC Has $294,000 Holdings in Kenvue Inc. (NYSE:KVUE)

Cornerstone Wealth Group LLC lowered its stake in Kenvue Inc. (NYSE:KVUE) by 96.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,698 shares of the company’s stock after selling 356,875 shares during the period. Cornerstone Wealth Group LLC’s holdings in Kenvue were worth $294,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in KVUE. Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of Kenvue by 0.5% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,864,575 shares of the company’s stock worth $82,934,000 after purchasing an additional 20,943 shares during the period. Norden Group LLC bought a new position in shares of Kenvue in the first quarter worth about $1,792,000. First Trust Direct Indexing L.P. increased its stake in shares of Kenvue by 29.2% in the first quarter. First Trust Direct Indexing L.P. now owns 24,463 shares of the company’s stock worth $525,000 after purchasing an additional 5,524 shares during the period. HB Wealth Management LLC increased its stake in shares of Kenvue by 7.6% in the first quarter. HB Wealth Management LLC now owns 12,364 shares of the company’s stock worth $265,000 after purchasing an additional 875 shares during the period. Finally, Diversify Advisory Services LLC bought a new position in shares of Kenvue in the first quarter worth about $565,000. Institutional investors and hedge funds own 97.64% of the company’s stock.

Kenvue Stock Up 0.2 %

Shares of KVUE opened at $22.93 on Friday. The company has a market capitalization of $43.91 billion, a P/E ratio of 39.53, a PEG ratio of 3.00 and a beta of 1.40. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.99 and a quick ratio of 0.68. Kenvue Inc. has a one year low of $17.67 and a one year high of $23.55. The business’s 50 day simple moving average is $22.51 and its 200-day simple moving average is $20.38.

Kenvue (NYSE:KVUE) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.04. Kenvue had a return on equity of 21.80% and a net margin of 7.23%. The firm had revenue of $4 billion for the quarter, compared to the consensus estimate of $3.93 billion. During the same quarter in the prior year, the business earned $0.32 EPS. The business’s revenue for the quarter was down .3% compared to the same quarter last year. As a group, sell-side analysts predict that Kenvue Inc. will post 1.08 EPS for the current fiscal year.

Kenvue Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th will be issued a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a yield of 3.58%. The ex-dividend date of this dividend is Wednesday, November 13th. Kenvue’s dividend payout ratio is 141.38%.

Analysts Set New Price Targets

KVUE has been the topic of a number of recent analyst reports. Royal Bank of Canada lowered Kenvue from an “outperform” rating to a “sector perform” rating and set a $24.00 price objective on the stock. in a research note on Tuesday, September 24th. JPMorgan Chase & Co. boosted their price target on Kenvue from $24.00 to $25.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. Citigroup lowered their price target on Kenvue from $21.00 to $20.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. UBS Group boosted their price target on Kenvue from $20.00 to $22.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Finally, Piper Sandler boosted their price target on Kenvue from $20.00 to $21.00 and gave the company a “neutral” rating in a research note on Monday, September 23rd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock 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.