TrinityPoint Wealth LLC Raises Stock Holdings in Kenvue Inc. (NYSE:KVUE)

TrinityPoint Wealth LLC grew its stake in shares of Kenvue Inc. (NYSE:KVUE) by 1.7% during the third quarter, HoldingsChannel.com reports. The fund owned 60,490 shares of the company’s stock after buying an additional 1,015 shares during the quarter. TrinityPoint Wealth LLC’s holdings in Kenvue were worth $1,399,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Kingsview Wealth Management LLC bought a new position in Kenvue during the first quarter valued at approximately $253,000. Covestor Ltd purchased a new stake in Kenvue during the 1st quarter valued at $109,000. Ameritas Investment Partners Inc. raised its stake in Kenvue by 1.7% during the 1st quarter. Ameritas Investment Partners Inc. now owns 136,775 shares of the company’s stock valued at $2,935,000 after buying an additional 2,321 shares during the last quarter. O Shaughnessy Asset Management LLC lifted its holdings in shares of Kenvue by 34.3% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 30,765 shares of the company’s stock valued at $660,000 after buying an additional 7,854 shares during the period. Finally, Clearbridge Investments LLC boosted its stake in shares of Kenvue by 16,051.1% in the 1st quarter. Clearbridge Investments LLC now owns 9,813,597 shares of the company’s stock worth $210,600,000 after buying an additional 9,752,836 shares during the last quarter. 97.64% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on KVUE. Deutsche Bank Aktiengesellschaft upped their price objective on Kenvue from $23.00 to $24.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. Jefferies Financial Group began coverage on shares of Kenvue in a research note on Tuesday, September 24th. They issued a “buy” rating and a $27.00 price objective on the stock. Bank of America boosted their target price on shares of Kenvue from $24.00 to $27.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Royal Bank of Canada cut shares of Kenvue from an “outperform” rating to a “sector perform” rating and set a $24.00 price target on the stock. in a research note on Tuesday, September 24th. Finally, UBS Group upped their price objective on Kenvue from $20.00 to $22.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $22.64.

Kenvue Price Performance

NYSE:KVUE opened at $23.82 on Monday. The stock has a market cap of $45.67 billion, a PE ratio of 43.31, a P/E/G ratio of 2.16 and a beta of 1.36. The company has a quick ratio of 0.69, a current ratio of 1.00 and a debt-to-equity ratio of 0.66. The business’s 50-day simple moving average is $22.77 and its two-hundred day simple moving average is $20.70. Kenvue Inc. has a 52 week low of $17.67 and a 52 week high of $24.13.

Kenvue (NYSE:KVUE) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.01. The business had revenue of $3.90 billion during 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%. The firm’s revenue for the quarter was down .4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.31 EPS. As a group, analysts forecast that Kenvue Inc. will post 1.07 EPS for the current fiscal year.

Kenvue Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th will be paid a $0.205 dividend. This represents a $0.82 annualized dividend and a yield of 3.44%. The ex-dividend date of this dividend is Wednesday, November 13th. Kenvue’s payout ratio is currently 149.09%.

Kenvue 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.