Cobblestone Capital Advisors LLC NY Lowers Holdings in Kenvue Inc. (NYSE:KVUE)

Cobblestone Capital Advisors LLC NY lowered its holdings in shares of Kenvue Inc. (NYSE:KVUE) by 5.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 55,798 shares of the company’s stock after selling 3,112 shares during the quarter. Cobblestone Capital Advisors LLC NY’s holdings in Kenvue were worth $1,014,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Manchester Capital Management LLC grew its position in shares of Kenvue by 80.8% during the first quarter. Manchester Capital Management LLC now owns 1,186 shares of the company’s stock valued at $25,000 after purchasing an additional 530 shares in the last quarter. Tradition Wealth Management LLC grew its holdings in Kenvue by 2.8% during the 4th quarter. Tradition Wealth Management LLC now owns 21,278 shares of the company’s stock valued at $458,000 after buying an additional 575 shares in the last quarter. MV Capital Management Inc. grew its holdings in Kenvue by 71.2% during the 1st quarter. MV Capital Management Inc. now owns 1,544 shares of the company’s stock valued at $33,000 after buying an additional 642 shares in the last quarter. Royal Capital Wealth Management LLC increased its stake in Kenvue by 2.3% in the 4th quarter. Royal Capital Wealth Management LLC now owns 29,746 shares of the company’s stock worth $640,000 after acquiring an additional 673 shares during the last quarter. Finally, Cove Private Wealth LLC raised its holdings in shares of Kenvue by 1.6% during the 2nd quarter. Cove Private Wealth LLC now owns 44,539 shares of the company’s stock worth $810,000 after acquiring an additional 700 shares in the last quarter. Institutional investors own 97.64% of the company’s stock.

Kenvue Stock Up 1.6 %

Shares of KVUE stock traded up $0.35 on Friday, hitting $22.86. The stock had a trading volume of 18,883,374 shares, compared to its average volume of 18,601,000. Kenvue Inc. has a one year low of $17.67 and a one year high of $23.00. The business has a 50 day moving average price of $19.92 and a 200 day moving average price of $19.67. The company has a market cap of $43.77 billion, a PE ratio of 29.31, a P/E/G ratio of 2.76 and a beta of 1.38. The company has a quick ratio of 0.68, a current ratio of 0.99 and a debt-to-equity ratio of 0.69.

Kenvue (NYSE:KVUE) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.04. The firm had revenue of $4 billion for the quarter, compared to the consensus estimate of $3.93 billion. Kenvue had a net margin of 7.23% and a return on equity of 21.80%. The company’s quarterly revenue was down .3% on a year-over-year basis. During the same period last year, the firm earned $0.32 earnings per share. Research analysts anticipate that Kenvue Inc. will post 1.08 earnings per share for the current fiscal year.

Kenvue Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 28th. Stockholders of record on Wednesday, August 14th were given a $0.205 dividend. This represents a $0.82 annualized dividend and a dividend yield of 3.59%. This is a positive change from Kenvue’s previous quarterly dividend of $0.20. The ex-dividend date was Wednesday, August 14th. Kenvue’s payout ratio is presently 105.13%.

Analysts Set New Price Targets

A number of research firms recently issued reports on KVUE. Deutsche Bank Aktiengesellschaft upped their price target on shares of Kenvue from $23.00 to $24.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. Royal Bank of Canada restated an “outperform” rating and set a $24.00 target price on shares of Kenvue in a research report on Wednesday, August 7th. JPMorgan Chase & Co. increased their price target on shares of Kenvue from $22.00 to $24.00 and gave the company an “overweight” rating in a report on Wednesday, August 7th. UBS Group boosted their price objective on Kenvue from $20.00 to $22.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Finally, Citigroup reduced their target price on shares of Kenvue from $21.00 to $20.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $22.64.

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.