Kenvue Inc. (NYSE:KVUE) Shares Acquired by Novare Capital Management LLC

Novare Capital Management LLC boosted its holdings in shares of Kenvue Inc. (NYSE:KVUE) by 6.7% in the 3rd quarter, Holdings Channel reports. The firm owned 463,354 shares of the company’s stock after buying an additional 29,101 shares during the period. Novare Capital Management LLC’s holdings in Kenvue were worth $10,717,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Paladin Wealth LLC purchased a new stake in shares of Kenvue in the 3rd quarter valued at approximately $190,000. Thomasville National Bank lifted its position in shares of Kenvue by 6.5% in the 3rd quarter. Thomasville National Bank now owns 696,641 shares of the company’s stock valued at $16,113,000 after acquiring an additional 42,504 shares in the last quarter. Willis Investment Counsel lifted its position in shares of Kenvue by 19.8% in the 3rd quarter. Willis Investment Counsel now owns 883,752 shares of the company’s stock valued at $20,441,000 after acquiring an additional 146,075 shares in the last quarter. Viking Fund Management LLC lifted its position in shares of Kenvue by 7.1% in the 3rd quarter. Viking Fund Management LLC now owns 300,000 shares of the company’s stock valued at $6,939,000 after acquiring an additional 20,000 shares in the last quarter. Finally, Sound Income Strategies LLC lifted its position in shares of Kenvue by 41.8% in the 3rd quarter. Sound Income Strategies LLC now owns 629,072 shares of the company’s stock valued at $14,550,000 after acquiring an additional 185,351 shares in the last quarter. 97.64% of the stock is owned by institutional investors and hedge funds.

Kenvue Stock Up 0.2 %

Shares of KVUE stock traded up $0.04 on Monday, hitting $21.50. The company’s stock had a trading volume of 4,418,190 shares, compared to its average volume of 18,168,102. 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 fifty-two week low of $17.67 and a fifty-two week high of $23.55. The firm’s fifty day moving average price is $22.13 and its 200-day moving average price is $20.18. The stock has a market capitalization of $41.17 billion, a price-to-earnings ratio of 27.51, a P/E/G ratio of 2.76 and a beta of 1.40.

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 the consensus estimate of $0.28 by $0.04. Kenvue had a net margin of 7.23% and a return on equity of 21.80%. The business had revenue of $4 billion during the quarter, compared to analyst estimates of $3.93 billion. During the same quarter in the previous year, the business earned $0.32 EPS. Kenvue’s quarterly revenue was down .3% compared to the same quarter last year. Research analysts anticipate that Kenvue Inc. will post 1.08 EPS 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 paid a $0.205 dividend. This represents a $0.82 annualized dividend and a dividend yield of 3.81%. The ex-dividend date was Wednesday, August 14th. This is a positive change from Kenvue’s previous quarterly dividend of $0.20. Kenvue’s payout ratio is presently 105.13%.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Citigroup reduced their price target 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. Jefferies Financial Group started coverage on shares of Kenvue in a research report on Tuesday, September 24th. They issued a “buy” rating and a $27.00 target price for the company. JPMorgan Chase & Co. lifted their target price on shares of Kenvue from $24.00 to $25.00 and gave the company an “overweight” rating in a research note on Friday. Piper Sandler lifted their target price on shares of Kenvue from $20.00 to $21.00 and gave the company a “neutral” rating in a research note on Monday, September 23rd. Finally, UBS Group lifted their target price 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. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Kenvue presently has a consensus rating of “Hold” and an average price target of $22.20.

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.