Altus Wealth Group LLC Purchases 7,600 Shares of Kenvue Inc. (NYSE:KVUE)

Altus Wealth Group LLC grew its stake in Kenvue Inc. (NYSE:KVUE) by 44.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 24,719 shares of the company’s stock after purchasing an additional 7,600 shares during the period. Altus Wealth Group LLC’s holdings in Kenvue were worth $449,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Price T Rowe Associates Inc. MD lifted its holdings 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 worth $2,887,773,000 after buying an additional 25,238,112 shares in the last quarter. Vanguard Group Inc. increased its holdings in Kenvue by 12.0% during the 1st quarter. Vanguard Group Inc. now owns 166,789,085 shares of the company’s stock worth $3,579,294,000 after purchasing an additional 17,908,497 shares in the last quarter. Norges Bank bought a new position in shares of Kenvue in the 4th quarter valued at about $282,100,000. Van ECK Associates Corp grew its holdings in shares of Kenvue by 110.9% in the 2nd quarter. Van ECK Associates Corp now owns 20,510,427 shares of the company’s stock valued at $372,880,000 after acquiring an additional 10,783,258 shares in the last quarter. Finally, Clearbridge Investments LLC grew its holdings in shares of Kenvue by 16,051.1% in the 1st quarter. Clearbridge Investments LLC now owns 9,813,597 shares of the company’s stock valued at $210,600,000 after acquiring an additional 9,752,836 shares in the last quarter. 97.64% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

KVUE has been the subject of several research reports. Citigroup cut their price objective on shares of Kenvue from $21.00 to $20.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. UBS Group lifted their price objective on shares of Kenvue from $20.00 to $22.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. JPMorgan Chase & Co. increased their price target on Kenvue from $22.00 to $24.00 and gave the company an “overweight” rating in a research note on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Kenvue from $23.00 to $24.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $24.00 price target on shares of Kenvue in a research report on Wednesday, August 7th. One research 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. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $22.64.

Kenvue Stock Performance

Shares of KVUE stock opened at $22.51 on Friday. The stock has a market capitalization of $43.10 billion, a PE ratio of 28.86, a P/E/G ratio of 2.76 and a beta of 1.38. The business has a 50-day moving average of $19.74 and a 200 day moving average of $19.62. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.99 and a quick ratio of 0.68. Kenvue Inc. has a 1-year low of $17.67 and a 1-year high of $22.71.

Kenvue (NYSE:KVUE) last announced its earnings results on Tuesday, August 6th. The company reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.04. Kenvue had a net margin of 7.23% and a return on equity of 21.80%. The firm had revenue of $4 billion for the quarter, compared to analysts’ expectations of $3.93 billion. During the same quarter in the previous year, the business posted $0.32 EPS. The company’s quarterly revenue was down .3% on a year-over-year basis. As a group, sell-side analysts anticipate that Kenvue Inc. will post 1.08 earnings per share for the current year.

Kenvue Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 28th. Investors of record on Wednesday, August 14th were issued a $0.205 dividend. This is an increase from Kenvue’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Wednesday, August 14th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 3.64%. Kenvue’s dividend payout ratio (DPR) is presently 105.13%.

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.