Summit Investment Advisors Inc. Has $3.28 Million Position in Kenvue Inc. (NYSE:KVUE)

Summit Investment Advisors Inc. trimmed its holdings in shares of Kenvue Inc. (NYSE:KVUE) by 0.4% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 153,687 shares of the company’s stock after selling 570 shares during the period. Summit Investment Advisors Inc.’s holdings in Kenvue were worth $3,281,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Grove Bank & Trust raised its holdings in Kenvue by 438.4% during the fourth quarter. Grove Bank & Trust now owns 1,163 shares of the company’s stock worth $25,000 after acquiring an additional 947 shares in the last quarter. Geneos Wealth Management Inc. bought a new stake in shares of Kenvue during the 4th quarter worth approximately $29,000. SRS Capital Advisors Inc. boosted its holdings in shares of Kenvue by 67.4% in the 4th quarter. SRS Capital Advisors Inc. now owns 1,418 shares of the company’s stock valued at $30,000 after buying an additional 571 shares during the last quarter. Fortitude Family Office LLC grew its stake in shares of Kenvue by 106.6% in 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 in the last quarter. Finally, Versant Capital Management Inc increased its holdings in Kenvue by 300.8% during the fourth quarter. Versant Capital Management Inc now owns 1,920 shares of the company’s stock worth $41,000 after buying an additional 1,441 shares during the last quarter. Institutional investors own 97.64% of the company’s stock.

Kenvue Stock Up 1.1 %

KVUE stock opened at $22.10 on Monday. The business’s fifty day moving average price is $22.65 and its two-hundred day moving average price is $22.40. The stock has a market capitalization of $42.25 billion, a price-to-earnings ratio of 41.71, a PEG ratio of 2.62 and a beta of 1.02. Kenvue Inc. has a fifty-two week low of $17.67 and a fifty-two week high of $24.46. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.00 and a quick ratio of 0.69.

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

Kenvue Dividend Announcement

The firm 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. The ex-dividend date of this dividend was Wednesday, February 12th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 3.71%. Kenvue’s payout ratio is 154.72%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on KVUE. Citigroup decreased their price objective on shares of Kenvue from $25.00 to $21.00 and set a “neutral” rating for the company in a research report on Wednesday, January 15th. UBS Group reduced their price target on Kenvue from $23.00 to $21.00 and set a “neutral” rating for the company in a report on Friday, February 7th. Royal Bank of Canada restated a “sector perform” rating and issued a $24.00 price objective on shares of Kenvue in a research note on Monday, February 3rd. Piper Sandler lifted their target price on Kenvue from $24.00 to $27.00 and gave the stock an “overweight” rating in a research note on Monday, February 24th. Finally, Redburn Atlantic assumed coverage on Kenvue in a report on Thursday. They set a “neutral” rating and a $23.50 target price on the stock. Eight analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Kenvue presently has an average rating of “Hold” and an average price target of $24.42.

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.