Smith Chas P & Associates PA Cpas Has $758,000 Stake in Kenvue Inc. (NYSE:KVUE)

Smith Chas P & Associates PA Cpas reduced its position in shares of Kenvue Inc. (NYSE:KVUE) by 27.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 32,759 shares of the company’s stock after selling 12,268 shares during the period. Smith Chas P & Associates PA Cpas’ holdings in Kenvue were worth $758,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Cornerstone Wealth Group LLC boosted its stake in shares of Kenvue by 176.2% in the first quarter. Cornerstone Wealth Group LLC now owns 350,371 shares of the company’s stock valued at $7,519,000 after buying an additional 223,537 shares during the period. NBC Securities Inc. increased its position in shares of Kenvue by 8.4% in the first quarter. NBC Securities Inc. now owns 11,301 shares of the company’s stock worth $242,000 after purchasing an additional 879 shares during the period. Janney Montgomery Scott LLC raised its stake in Kenvue by 56.2% in the first quarter. Janney Montgomery Scott LLC now owns 1,840,875 shares of the company’s stock valued at $39,505,000 after purchasing an additional 662,666 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in Kenvue during the first quarter worth about $1,050,000. Finally, Norden Group LLC bought a new position in Kenvue in the 1st quarter valued at about $1,792,000. 97.64% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have weighed in on KVUE. Jefferies Financial Group began coverage on Kenvue in a report on Tuesday, September 24th. They issued a “buy” rating and a $27.00 target price on the stock. JPMorgan Chase & Co. lifted their price target on shares of Kenvue from $24.00 to $25.00 and gave the company an “overweight” rating in a report on Friday. Deutsche Bank Aktiengesellschaft raised their price objective on Kenvue from $23.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. Piper Sandler increased their target price on Kenvue from $20.00 to $21.00 and gave the company a “neutral” rating in a research report on Monday, September 23rd. Finally, UBS Group raised their price objective on shares of Kenvue from $20.00 to $22.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $22.20.

Kenvue Stock Performance

Shares of KVUE stock opened at $21.46 on Monday. The business’s 50 day simple moving average is $22.13 and its 200 day simple moving average is $20.18. 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 one year low of $17.67 and a one year high of $23.55. The stock has a market capitalization of $41.09 billion, a PE ratio of 27.51, a PEG ratio of 2.76 and a beta of 1.40.

Kenvue (NYSE:KVUE) last released its earnings results 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 for the quarter, compared to analyst estimates of $3.93 billion. During the same quarter in the previous year, the business earned $0.32 earnings per share. Kenvue’s revenue for the quarter was down .3% on a year-over-year basis. As a group, research analysts forecast that Kenvue Inc. will post 1.08 earnings per share for the current year.

Kenvue Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 28th. Investors of record on Wednesday, August 14th were given a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a yield of 3.82%. This is a positive change from Kenvue’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Wednesday, August 14th. Kenvue’s payout ratio is presently 105.13%.

Kenvue 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.