Copley Financial Group Inc. Invests $569,000 in Kenvue Inc. (NYSE:KVUE)

Copley Financial Group Inc. acquired a new position in Kenvue Inc. (NYSE:KVUE) in the 3rd quarter, Holdings Channel.com reports. The firm acquired 24,607 shares of the company’s stock, valued at approximately $569,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of KVUE. Riverview Trust Co bought a new position in Kenvue in the 3rd quarter worth $30,000. Ashton Thomas Securities LLC bought a new position in Kenvue in the 3rd quarter worth $35,000. Studio Investment Management LLC boosted its holdings in Kenvue by 52.1% in the 2nd quarter. Studio Investment Management LLC now owns 2,468 shares of the company’s stock worth $45,000 after buying an additional 845 shares during the period. Deseret Mutual Benefit Administrators boosted its holdings in Kenvue by 49.7% in the 3rd quarter. Deseret Mutual Benefit Administrators now owns 1,960 shares of the company’s stock worth $45,000 after buying an additional 651 shares during the period. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new position in Kenvue in the 2nd quarter worth $61,000. 97.64% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

KVUE has been the subject of several recent analyst reports. JPMorgan Chase & Co. upped their target price on shares of Kenvue from $24.00 to $25.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. Royal Bank of Canada raised shares of Kenvue from a “hold” rating to a “moderate buy” rating in a report on Monday. Jefferies Financial Group began coverage on shares of Kenvue in a report on Tuesday, September 24th. They set a “buy” rating and a $27.00 price objective for the company. Piper Sandler increased their price objective on shares of Kenvue from $20.00 to $21.00 and gave the company a “neutral” rating in a report on Monday, September 23rd. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of Kenvue from a “buy” rating to a “hold” rating and dropped their price objective for the company from $25.00 to $24.00 in a report on Thursday. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Kenvue presently has a consensus rating of “Hold” and a consensus target price of $22.64.

Kenvue Trading Down 1.1 %

Shares of NYSE:KVUE traded down $0.24 during trading on Friday, reaching $22.08. 1,210,420 shares of the company were exchanged, compared to its average volume of 17,602,631. The firm has a market capitalization of $42.33 billion, a PE ratio of 41.09, a P/E/G ratio of 2.02 and a beta of 1.36. The business’s fifty day simple moving average is $22.95 and its 200-day simple moving average is $21.17. Kenvue Inc. has a 12-month low of $17.67 and a 12-month high of $24.46. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.00 and a quick ratio of 0.69.

Kenvue (NYSE:KVUE) last issued its earnings results on Thursday, November 7th. The company reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.01. Kenvue had a net margin of 6.88% and a return on equity of 21.43%. The business had revenue of $3.90 billion for the quarter, compared to analyst estimates of $3.92 billion. During the same period last year, the company posted $0.31 earnings per share. The company’s quarterly revenue was down .4% compared to the same quarter last year. On average, research analysts anticipate that Kenvue Inc. will post 1.07 EPS for the current year.

Kenvue Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th were paid a dividend of $0.205 per share. The ex-dividend date of this dividend was Wednesday, November 13th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 3.71%. Kenvue’s dividend payout ratio is presently 149.09%.

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.