Independent Advisor Alliance Has $1.18 Million Stock Position in Kenvue Inc. (NYSE:KVUE)

Independent Advisor Alliance boosted its position in Kenvue Inc. (NYSE:KVUE) by 10.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 51,003 shares of the company’s stock after acquiring an additional 4,960 shares during the period. Independent Advisor Alliance’s holdings in Kenvue were worth $1,180,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Riverview Trust Co bought a new stake in shares of Kenvue during the 3rd quarter valued at $30,000. Ashton Thomas Securities LLC bought a new stake in Kenvue in the third quarter valued at about $35,000. Studio Investment Management LLC lifted its stake in Kenvue by 52.1% in the second quarter. Studio Investment Management LLC now owns 2,468 shares of the company’s stock valued at $45,000 after buying an additional 845 shares during the period. Deseret Mutual Benefit Administrators lifted its stake in Kenvue by 49.7% in the third quarter. Deseret Mutual Benefit Administrators now owns 1,960 shares of the company’s stock valued at $45,000 after buying an additional 651 shares during the period. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new position in Kenvue during the second quarter worth about $61,000. 97.64% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft upped their price target on Kenvue from $23.00 to $24.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. UBS Group increased their target price on shares of Kenvue from $20.00 to $22.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. JPMorgan Chase & Co. boosted their price target on shares of Kenvue from $24.00 to $25.00 and gave the company an “overweight” rating in a report on Friday, October 11th. Piper Sandler raised their price objective on Kenvue from $20.00 to $21.00 and gave the stock a “neutral” rating in a research note on Monday, September 23rd. Finally, Royal Bank of Canada cut Kenvue from an “outperform” rating to a “sector perform” rating and set a $24.00 target price for the company. in a research note on Tuesday, September 24th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $22.64.

Kenvue Stock Down 0.5 %

NYSE:KVUE opened at $24.12 on Wednesday. The stock has a 50-day simple moving average of $22.87 and a 200 day simple moving average of $20.92. Kenvue Inc. has a 52-week low of $17.67 and a 52-week high of $24.46. The company has a market cap of $46.24 billion, a PE ratio of 43.85, a PEG ratio of 2.19 and a beta of 1.36. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.69 and a current ratio of 1.00.

Kenvue (NYSE:KVUE) last issued 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 company had revenue of $3.90 billion during the quarter, compared to analysts’ expectations of $3.92 billion. Kenvue had a net margin of 6.88% and a return on equity of 21.43%. The business’s quarterly revenue was down .4% on a year-over-year basis. During the same period last year, the business earned $0.31 EPS. On average, sell-side analysts expect that Kenvue Inc. will post 1.07 EPS for the current fiscal year.

Kenvue Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th will be given a dividend of $0.205 per share. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $0.82 annualized dividend and a yield of 3.40%. Kenvue’s dividend payout ratio (DPR) is presently 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.