Kenvue Inc. (NYSE:KVUE) Shares Bought by Saybrook Capital NC

Saybrook Capital NC grew its stake in Kenvue Inc. (NYSE:KVUE) by 49.5% in the third quarter, Holdings Channel.com reports. The firm owned 304,697 shares of the company’s stock after acquiring an additional 100,920 shares during the quarter. Kenvue makes up approximately 2.0% of Saybrook Capital NC’s investment portfolio, making the stock its 15th biggest position. Saybrook Capital NC’s holdings in Kenvue were worth $7,048,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Manchester Capital Management LLC lifted its holdings in Kenvue by 80.8% in the first quarter. Manchester Capital Management LLC now owns 1,186 shares of the company’s stock valued at $25,000 after acquiring an additional 530 shares during the last quarter. Riverview Trust Co purchased a new stake in Kenvue in the 3rd quarter valued at about $30,000. Salomon & Ludwin LLC purchased a new stake in Kenvue in the 1st quarter valued at about $33,000. Studio Investment Management LLC increased its position in shares of Kenvue by 52.1% during the second quarter. Studio Investment Management LLC now owns 2,468 shares of the company’s stock valued at $45,000 after acquiring an additional 845 shares during the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new position in shares of Kenvue in the 2nd quarter worth approximately $61,000. Institutional investors and hedge funds own 97.64% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on KVUE. Jefferies Financial Group initiated coverage on shares of Kenvue in a report on Tuesday, September 24th. They issued a “buy” rating and a $27.00 target price for the company. JPMorgan Chase & Co. boosted their price objective on Kenvue from $24.00 to $25.00 and gave the company an “overweight” rating in a report on Friday, October 11th. Bank of America raised their target price on Kenvue from $24.00 to $27.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft increased their price target on shares of Kenvue from $23.00 to $24.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Finally, Citigroup lowered their target price on Kenvue from $21.00 to $20.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Kenvue presently has a consensus rating of “Hold” and an average price target of $22.64.

Kenvue Price Performance

Shares of NYSE:KVUE opened at $22.78 on Wednesday. Kenvue Inc. has a 12 month low of $17.67 and a 12 month high of $23.55. The firm has a market capitalization of $43.62 billion, a P/E ratio of 29.21, a P/E/G 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. The company’s fifty day moving average price is $22.46 and its 200 day moving average price is $20.34.

Kenvue (NYSE:KVUE) last announced its earnings results on Tuesday, August 6th. The company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $3.93 billion. During the same period in the prior year, the firm earned $0.32 EPS. The business’s revenue was down .3% on a year-over-year basis. As a group, sell-side analysts predict that Kenvue Inc. will post 1.08 earnings per share for the current fiscal year.

Kenvue Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th will be issued a $0.205 dividend. This represents a $0.82 annualized dividend and a dividend yield of 3.60%. The ex-dividend date is Wednesday, November 13th. Kenvue’s payout ratio is 105.13%.

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.