11,379 Shares in Kenvue Inc. (NYSE:KVUE) Acquired by Pines Wealth Management LLC

Pines Wealth Management LLC bought a new stake in shares of Kenvue Inc. (NYSE:KVUE) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 11,379 shares of the company’s stock, valued at approximately $237,000.

Other hedge funds have also added to or reduced their stakes in the company. Riverview Trust Co bought a new position in shares of Kenvue in the 3rd quarter worth approximately $30,000. Fortitude Family Office LLC increased its holdings in Kenvue by 106.6% during the fourth quarter. Fortitude Family Office LLC now owns 1,506 shares of the company’s stock valued at $32,000 after buying an additional 777 shares during the last quarter. Ashton Thomas Securities LLC purchased a new position in shares of Kenvue during the 3rd quarter worth $35,000. Versant Capital Management Inc boosted its stake in shares of Kenvue by 300.8% during the 4th quarter. Versant Capital Management Inc now owns 1,920 shares of the company’s stock worth $41,000 after acquiring an additional 1,441 shares during the last quarter. Finally, Deseret Mutual Benefit Administrators increased its stake in shares of Kenvue by 49.7% in the 3rd quarter. Deseret Mutual Benefit Administrators now owns 1,960 shares of the company’s stock worth $45,000 after purchasing an additional 651 shares in the last quarter. 97.64% of the stock is currently owned by hedge funds and other institutional investors.

Kenvue Price Performance

NYSE:KVUE opened at $20.83 on Thursday. The business’s 50-day moving average is $22.50 and its 200 day moving average is $21.64. Kenvue Inc. has a 12 month low of $17.67 and a 12 month high of $24.46. The company has a market capitalization of $39.94 billion, a P/E ratio of 37.87, a P/E/G ratio of 2.02 and a beta of 1.46. The company has a current ratio of 1.00, a quick ratio of 0.69 and a debt-to-equity ratio of 0.66.

Kenvue (NYSE:KVUE) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.01. Kenvue had a return on equity of 21.43% and a net margin of 6.88%. The business had revenue of $3.90 billion for the quarter, compared to analysts’ expectations of $3.92 billion. During the same period in the prior year, the firm earned $0.31 EPS. The company’s revenue for the quarter was down .4% on a year-over-year basis. On average, equities research analysts forecast that Kenvue Inc. will post 1.07 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on KVUE shares. Citigroup cut their price target on Kenvue from $25.00 to $21.00 and set a “neutral” rating for the company in a report on Wednesday. Jefferies Financial Group started 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. lifted 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. Deutsche Bank Aktiengesellschaft cut shares of Kenvue from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $25.00 to $24.00 in a research note on Thursday, December 12th. Finally, Piper Sandler upgraded shares of Kenvue from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $21.00 to $26.00 in a research note on Monday, January 6th. 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. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $23.18.

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.