42,602 Shares in Kenvue Inc. (NYSE:KVUE) Acquired by Dynasty Wealth Management LLC

Dynasty Wealth Management LLC acquired a new stake in shares of Kenvue Inc. (NYSE:KVUE) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 42,602 shares of the company’s stock, valued at approximately $914,000.

Several other hedge funds have also added to or reduced their stakes in the stock. Beaumont Financial Advisors LLC raised its position in Kenvue by 3.0% in the 4th quarter. Beaumont Financial Advisors LLC now owns 17,532 shares of the company’s stock worth $377,000 after buying an additional 509 shares during the last quarter. Pinnacle Bancorp Inc. raised its position in shares of Kenvue by 51.3% during the fourth quarter. Pinnacle Bancorp Inc. now owns 1,552 shares of the company’s stock valued at $33,000 after buying an additional 526 shares during the last quarter. Manchester Capital Management LLC increased its holdings in Kenvue by 80.8% in the 1st quarter. Manchester Capital Management LLC now owns 1,186 shares of the company’s stock valued at $25,000 after acquiring an additional 530 shares during the last quarter. Tradition Wealth Management LLC increased its holdings in shares of Kenvue by 2.8% in the fourth quarter. Tradition Wealth Management LLC now owns 21,278 shares of the company’s stock worth $458,000 after purchasing an additional 575 shares during the last quarter. Finally, Mutual Advisors LLC grew its holdings in Kenvue by 6.1% during the 4th quarter. Mutual Advisors LLC now owns 10,606 shares of the company’s stock valued at $228,000 after buying an additional 612 shares in the last quarter. 97.64% of the stock is owned by institutional investors.

Kenvue Price Performance

KVUE stock traded down $0.13 during trading on Wednesday, reaching $18.62. 6,057,874 shares of the company were exchanged, compared to its average volume of 18,863,273. The company has a market cap of $35.65 billion, a P/E ratio of 24.03, a PEG ratio of 2.08 and a beta of 1.40. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.68 and a current ratio of 0.99. The stock’s 50 day moving average price is $18.55 and its 200 day moving average price is $19.48. Kenvue Inc. has a 52-week low of $17.67 and a 52-week high of $24.43.

Kenvue (NYSE:KVUE) last announced its quarterly earnings data on Tuesday, May 7th. The company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.03. Kenvue had a net margin of 9.63% and a return on equity of 21.06%. The business had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $3.79 billion. The business’s revenue was down 24.9% compared to the same quarter last year. As a group, analysts predict that Kenvue Inc. will post 1.13 earnings per share for the current fiscal year.

Kenvue Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 28th. Investors of record on Wednesday, August 14th will be issued a $0.205 dividend. This is an increase from Kenvue’s previous quarterly dividend of $0.20. This represents a $0.82 annualized dividend and a yield of 4.40%. The ex-dividend date of this dividend is Wednesday, August 14th. Kenvue’s dividend payout ratio is currently 102.56%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Sanford C. Bernstein began coverage on shares of Kenvue in a research note on Thursday, April 11th. They set an “underperform” rating and a $18.00 price target on the stock. William Blair started coverage on shares of Kenvue in a research note on Wednesday, April 3rd. They issued a “market perform” rating for the company. JPMorgan Chase & Co. lowered their price objective on Kenvue from $23.00 to $22.00 and set an “overweight” rating for the company in a research report on Monday, July 22nd. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Kenvue from $24.00 to $23.00 and set a “buy” rating on the stock in a report on Thursday, July 25th. Finally, HSBC upped their price target on shares of Kenvue from $20.00 to $21.00 and gave the company a “hold” rating in a report on Wednesday, May 8th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $22.45.

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.