Wealth Alliance Purchases New Stake in Kenvue Inc. (NYSE:KVUE)

Wealth Alliance purchased a new stake in Kenvue Inc. (NYSE:KVUE) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 30,508 shares of the company’s stock, valued at approximately $657,000.

Several other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. bought a new position in Kenvue during the third quarter worth about $2,944,816,000. FMR LLC boosted its holdings in Kenvue by 572.1% during the third quarter. FMR LLC now owns 89,182,980 shares of the company’s stock worth $1,790,794,000 after buying an additional 75,913,107 shares during the last quarter. Wellington Management Group LLP boosted its holdings in Kenvue by 576.1% during the third quarter. Wellington Management Group LLP now owns 71,686,830 shares of the company’s stock worth $1,439,472,000 after buying an additional 61,084,123 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in Kenvue by 227.7% during the third quarter. Massachusetts Financial Services Co. MA now owns 61,091,189 shares of the company’s stock worth $1,226,711,000 after buying an additional 42,449,470 shares during the last quarter. Finally, Morgan Stanley boosted its holdings in Kenvue by 4,057.4% during the third quarter. Morgan Stanley now owns 31,162,614 shares of the company’s stock worth $625,745,000 after buying an additional 30,413,040 shares during the last quarter. Institutional investors own 97.64% of the company’s stock.

Analyst Upgrades and Downgrades

KVUE has been the topic of a number of recent analyst reports. William Blair initiated coverage on Kenvue in a report on Wednesday, April 3rd. They set a “market perform” rating on the stock. Sanford C. Bernstein started coverage on Kenvue in a report on Thursday, April 11th. They set an “underperform” rating and a $18.00 price objective on the stock. JPMorgan Chase & Co. cut their price objective on Kenvue from $25.00 to $24.00 and set an “overweight” rating on the stock in a report on Friday, February 9th. Royal Bank of Canada cut their price objective on Kenvue from $25.00 to $24.00 and set an “outperform” rating on the stock in a report on Friday, February 9th. Finally, The Goldman Sachs Group started coverage on Kenvue in a report on Friday, March 1st. They set a “neutral” rating and a $20.00 price objective on the stock. One analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $24.85.

Kenvue Price Performance

Shares of NYSE KVUE opened at $19.27 on Thursday. The company has a current ratio of 1.12, a quick ratio of 0.78 and a debt-to-equity ratio of 0.69. Kenvue Inc. has a 12 month low of $17.82 and a 12 month high of $27.80. The stock has a 50 day moving average of $19.83 and a 200-day moving average of $20.17.

Kenvue (NYSE:KVUE) last released its quarterly earnings results on Thursday, February 8th. The company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.03. The business had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.78 billion. Kenvue had a return on equity of 15.62% and a net margin of 9.87%. The firm’s revenue for the quarter was down 2.7% compared to the same quarter last year. On average, equities analysts expect that Kenvue Inc. will post 1.15 earnings per share for the current fiscal year.

Kenvue Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 28th. Stockholders of record on Wednesday, February 14th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Tuesday, February 13th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.15%.

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.