Raymond James Trust N.A. Raises Stake in Kenvue Inc. (NYSE:KVUE)

Raymond James Trust N.A. raised its holdings in shares of Kenvue Inc. (NYSE:KVUE) by 8.5% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 62,815 shares of the company’s stock after purchasing an additional 4,928 shares during the period. Raymond James Trust N.A.’s holdings in Kenvue were worth $1,142,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Price T Rowe Associates Inc. MD increased its position in Kenvue by 23.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 134,565,333 shares of the company’s stock valued at $2,887,773,000 after buying an additional 25,238,112 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Kenvue by 12.0% during the first quarter. Vanguard Group Inc. now owns 166,789,085 shares of the company’s stock valued at $3,579,294,000 after acquiring an additional 17,908,497 shares in the last quarter. Norges Bank bought a new position in shares of Kenvue during the fourth quarter valued at $282,100,000. Clearbridge Investments LLC raised its holdings in Kenvue by 16,051.1% in the first quarter. Clearbridge Investments LLC now owns 9,813,597 shares of the company’s stock worth $210,600,000 after buying an additional 9,752,836 shares during the last quarter. Finally, Van ECK Associates Corp purchased a new position in Kenvue in the 1st quarter worth approximately $208,745,000. Institutional investors own 97.64% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. JPMorgan Chase & Co. increased their price objective on Kenvue from $22.00 to $24.00 and gave the company an “overweight” rating in a research report on Wednesday, August 7th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $24.00 price target on shares of Kenvue in a report on Wednesday, August 7th. Citigroup decreased their price objective on shares of Kenvue from $21.00 to $20.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. HSBC lifted their price objective on Kenvue from $20.00 to $21.00 and gave the stock a “hold” rating in a report on Wednesday, May 8th. Finally, UBS Group increased their target price on Kenvue from $20.00 to $22.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $22.64.

Kenvue Stock Performance

Kenvue stock remained flat at $21.82 during mid-day trading on Monday. 441,218 shares of the company traded hands, compared to its average volume of 18,752,764. Kenvue Inc. has a one year low of $17.67 and a one year high of $23.33. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.99 and a quick ratio of 0.68. The stock has a market cap of $41.78 billion, a price-to-earnings ratio of 27.97, a P/E/G ratio of 2.07 and a beta of 1.38. The company has a 50 day moving average of $19.21 and a 200 day moving average of $19.47.

Kenvue (NYSE:KVUE) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.04. Kenvue had a return on equity of 21.06% and a net margin of 9.63%. The firm had revenue of $4 billion during the quarter, compared to analyst estimates of $3.93 billion. During the same quarter in the prior year, the company posted $0.32 earnings per share. The business’s quarterly revenue was down .3% compared to the same quarter last year. As a group, equities research analysts forecast that Kenvue Inc. will post 1.13 earnings per share for the current year.

Kenvue Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 28th. Stockholders of record on Wednesday, August 14th will be given a dividend of $0.205 per share. The ex-dividend date is Wednesday, August 14th. This represents a $0.82 annualized dividend and a dividend yield of 3.76%. This is a boost from Kenvue’s previous quarterly dividend of $0.20. Kenvue’s dividend payout ratio (DPR) is presently 105.13%.

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.