Allen Wealth Management LLC Boosts Stake in Kenvue Inc. (NYSE:KVUE)

Allen Wealth Management LLC raised its position in shares of Kenvue Inc. (NYSE:KVUE) by 7.8% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 82,559 shares of the company’s stock after purchasing an additional 6,001 shares during the quarter. Kenvue comprises about 1.3% of Allen Wealth Management LLC’s investment portfolio, making the stock its 17th biggest holding. Allen Wealth Management LLC’s holdings in Kenvue were worth $1,763,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of Kenvue by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 218,543,705 shares of the company’s stock valued at $4,665,908,000 after buying an additional 1,636,741 shares in the last quarter. State Street Corp increased its stake in Kenvue by 16.8% during the third quarter. State Street Corp now owns 127,213,940 shares of the company’s stock worth $2,942,458,000 after acquiring an additional 18,283,473 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in Kenvue by 12.3% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 97,661,344 shares of the company’s stock valued at $2,085,070,000 after purchasing an additional 10,682,003 shares during the period. Geode Capital Management LLC lifted its stake in shares of Kenvue by 3.1% in the 4th quarter. Geode Capital Management LLC now owns 46,068,931 shares of the company’s stock valued at $980,989,000 after purchasing an additional 1,391,854 shares during the last quarter. Finally, Franklin Resources Inc. boosted its holdings in shares of Kenvue by 61.5% in the 4th quarter. Franklin Resources Inc. now owns 42,719,377 shares of the company’s stock worth $912,059,000 after purchasing an additional 16,269,721 shares during the period. Institutional investors own 97.64% of the company’s stock.

Kenvue Price Performance

Shares of KVUE stock opened at $23.87 on Thursday. Kenvue Inc. has a twelve month low of $17.67 and a twelve month high of $24.46. The company has a current ratio of 1.00, a quick ratio of 0.69 and a debt-to-equity ratio of 0.66. The stock has a fifty day simple moving average of $22.50 and a two-hundred day simple moving average of $22.47. The stock has a market capitalization of $45.62 billion, a price-to-earnings ratio of 45.04, a P/E/G ratio of 2.62 and a beta of 1.25.

Kenvue (NYSE:KVUE) last posted its earnings results on Thursday, February 6th. The company reported $0.26 EPS for the quarter, meeting analysts’ consensus estimates of $0.26. Kenvue had a net margin of 6.66% and a return on equity of 20.97%. On average, analysts predict that Kenvue Inc. will post 1.14 EPS for the current fiscal year.

Kenvue Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th were given a $0.205 dividend. This represents a $0.82 annualized dividend and a dividend yield of 3.44%. The ex-dividend date of this dividend was Wednesday, February 12th. Kenvue’s payout ratio is 154.72%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on KVUE shares. Piper Sandler raised their price target on Kenvue from $24.00 to $27.00 and gave the stock an “overweight” rating in a research report on Monday, February 24th. UBS Group lowered their target price on shares of Kenvue from $23.00 to $21.00 and set a “neutral” rating for the company in a report on Friday, February 7th. Citigroup cut their price target on shares of Kenvue from $25.00 to $21.00 and set a “neutral” rating on the stock in a report on Wednesday, January 15th. Deutsche Bank Aktiengesellschaft downgraded shares of Kenvue from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $25.00 to $24.00 in a research note on Thursday, December 12th. Finally, Canaccord Genuity Group upped their target price on Kenvue from $24.00 to $29.00 and gave the company a “buy” rating in a research note on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $24.00.

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.