Providence Capital Advisors LLC Acquires New Stake in Kenvue Inc. (NYSE:KVUE)

Providence Capital Advisors LLC purchased a new position in Kenvue Inc. (NYSE:KVUE) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 119,744 shares of the company’s stock, valued at approximately $2,557,000.

A number of other large investors also recently modified their holdings of the company. Handelsbanken Fonder AB boosted its holdings in Kenvue by 2.9% in the 4th quarter. Handelsbanken Fonder AB now owns 742,184 shares of the company’s stock valued at $15,846,000 after purchasing an additional 21,222 shares during the period. Alberta Investment Management Corp lifted its holdings in shares of Kenvue by 23.2% during the 4th quarter. Alberta Investment Management Corp now owns 582,895 shares of the company’s stock worth $12,445,000 after acquiring an additional 109,700 shares during the last quarter. Longbow Finance SA grew its position in Kenvue by 5.0% in the fourth quarter. Longbow Finance SA now owns 280,568 shares of the company’s stock worth $5,990,000 after acquiring an additional 13,287 shares in the last quarter. Steward Partners Investment Advisory LLC raised its holdings in shares of Kenvue by 143.1% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 47,938 shares of the company’s stock valued at $1,023,000 after buying an additional 28,216 shares in the last quarter. Finally, CORDA Investment Management LLC. lifted its position in Kenvue by 1.4% in the 4th quarter. CORDA Investment Management LLC. now owns 1,253,096 shares of the company’s stock worth $26,754,000 after buying an additional 17,466 shares during the last quarter. 97.64% of the stock is currently owned by institutional investors.

Kenvue Trading Up 0.5 %

NYSE KVUE opened at $23.52 on Friday. 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 firm has a market capitalization of $44.95 billion, a PE ratio of 44.38, a P/E/G ratio of 2.62 and a beta of 1.25. The stock’s 50 day moving average is $22.27 and its 200 day moving average is $22.46. Kenvue Inc. has a twelve month low of $17.67 and a twelve month high of $24.46.

Kenvue (NYSE:KVUE) last issued its earnings results on Thursday, February 6th. The company reported $0.26 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.26. Kenvue had a net margin of 6.66% and a return on equity of 20.97%. Research analysts forecast that Kenvue Inc. will post 1.14 earnings per share for the current fiscal year.

Kenvue Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th were given a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a yield of 3.49%. The ex-dividend date of this dividend was Wednesday, February 12th. Kenvue’s dividend payout ratio (DPR) is presently 154.72%.

Analysts Set New Price Targets

KVUE has been the subject of a number of research reports. Canaccord Genuity Group upped their price objective on shares of Kenvue from $24.00 to $29.00 and gave the company a “buy” rating in a research note on Wednesday, March 5th. Citigroup lowered their target price on Kenvue from $25.00 to $21.00 and set a “neutral” rating for the company in a research note on Wednesday, January 15th. Evercore ISI initiated coverage on Kenvue in a research note on Monday. They issued an “in-line” rating and a $25.00 price target on the stock. Barclays raised their target price on shares of Kenvue from $21.00 to $23.00 and gave the stock an “equal weight” rating in a report on Thursday. Finally, Piper Sandler raised their price target on shares of Kenvue from $24.00 to $27.00 and gave the stock an “overweight” rating in a report on Monday, February 24th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $24.00.

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.