Sheets Smith Wealth Management Has $333,000 Stake in Kenvue Inc. (NYSE:KVUE)

Sheets Smith Wealth Management lifted its holdings in shares of Kenvue Inc. (NYSE:KVUE) by 26.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,474 shares of the company’s stock after purchasing an additional 3,191 shares during the quarter. Sheets Smith Wealth Management’s holdings in Kenvue were worth $333,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of KVUE. Empirical Finance LLC acquired a new position in Kenvue in the 3rd quarter worth $336,000. UniSuper Management Pty Ltd bought a new position in shares of Kenvue during the third quarter worth about $35,544,000. Citizens Business Bank acquired a new stake in Kenvue in the 3rd quarter valued at approximately $2,507,000. Fifth Third Bancorp lifted its stake in Kenvue by 35.3% in the 4th quarter. Fifth Third Bancorp now owns 277,580 shares of the company’s stock valued at $5,976,000 after acquiring an additional 72,435 shares in the last quarter. Finally, Clearbridge Investments LLC boosted its position in Kenvue by 364.6% during the 3rd quarter. Clearbridge Investments LLC now owns 484,321 shares of the company’s stock worth $9,725,000 after acquiring an additional 380,071 shares during the last quarter. Institutional investors and hedge funds own 97.64% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on KVUE shares. William Blair initiated coverage on shares of Kenvue in a research report on Wednesday, April 3rd. They issued a “market perform” rating on the stock. JPMorgan Chase & Co. decreased their price objective on Kenvue from $25.00 to $24.00 and set an “overweight” rating for the company in a report on Friday, February 9th. Royal Bank of Canada lowered their target price on Kenvue from $25.00 to $24.00 and set an “outperform” rating on the stock in a research report on Friday, February 9th. Sanford C. Bernstein began coverage on Kenvue in a research report on Thursday, April 11th. They set an “underperform” rating and a $18.00 price target for the company. Finally, The Goldman Sachs Group assumed coverage on Kenvue in a research note on Friday, March 1st. They set a “neutral” rating and a $20.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Kenvue currently has an average rating of “Hold” and a consensus target price of $24.85.

Kenvue Stock Performance

Shares of KVUE opened at $19.20 on Tuesday. The company has a current ratio of 1.12, a quick ratio of 0.78 and a debt-to-equity ratio of 0.69. Kenvue Inc. has a 52 week low of $17.82 and a 52 week high of $27.80. The firm’s 50-day simple moving average is $19.82 and its 200 day simple moving average is $20.11.

Kenvue (NYSE:KVUE) last issued its quarterly earnings data on Thursday, February 8th. The company reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.03. The company had revenue of $3.67 billion during the quarter, compared to analysts’ expectations of $3.78 billion. Kenvue had a return on equity of 15.62% and a net margin of 9.87%. The company’s quarterly revenue was down 2.7% on a year-over-year basis. Sell-side analysts forecast that Kenvue Inc. will post 1.15 EPS for the current fiscal year.

Kenvue Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Wednesday, May 8th will be given a $0.20 dividend. The ex-dividend date is Tuesday, May 7th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.17%.

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.