Parsons Capital Management Inc. RI Has $497,000 Stock Position in Kenvue Inc. $KVUE

Parsons Capital Management Inc. RI cut its stake in shares of Kenvue Inc. (NYSE:KVUE) by 12.7% in the second quarter, Holdings Channel reports. The firm owned 23,730 shares of the company’s stock after selling 3,443 shares during the quarter. Parsons Capital Management Inc. RI’s holdings in Kenvue were worth $497,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Pittenger & Anderson Inc. acquired a new position in shares of Kenvue during the 1st quarter worth about $30,000. Trust Co. of Vermont boosted its stake in Kenvue by 266.8% during the 2nd quarter. Trust Co. of Vermont now owns 1,581 shares of the company’s stock worth $33,000 after acquiring an additional 1,150 shares during the last quarter. TruNorth Capital Management LLC acquired a new position in Kenvue during the first quarter valued at approximately $36,000. Truvestments Capital LLC bought a new stake in Kenvue in the first quarter valued at approximately $37,000. Finally, Clal Insurance Enterprises Holdings Ltd raised its holdings in Kenvue by 378.5% in the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,627 shares of the company’s stock worth $39,000 after purchasing an additional 1,287 shares during the period. Institutional investors own 97.64% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on KVUE shares. Evercore ISI decreased their price target on shares of Kenvue from $23.00 to $18.00 and set an “in-line” rating for the company in a report on Tuesday, September 23rd. Rothschild & Co Redburn upgraded shares of Kenvue from a “neutral” rating to a “buy” rating and dropped their price objective for the stock from $22.50 to $22.00 in a report on Friday, September 26th. Bank of America reduced their target price on shares of Kenvue from $27.00 to $25.00 and set a “buy” rating for the company in a research note on Tuesday, July 15th. UBS Group dropped their price target on Kenvue from $25.00 to $23.00 and set a “neutral” rating on the stock in a research note on Thursday, July 17th. Finally, Royal Bank Of Canada reduced their price objective on Kenvue from $24.00 to $22.00 and set a “sector perform” rating for the company in a research report on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $22.46.

Kenvue Trading Up 0.4%

Kenvue stock opened at $15.80 on Friday. The company has a market cap of $30.31 billion, a price-to-earnings ratio of 21.34, a P/E/G ratio of 2.26 and a beta of 0.72. The firm has a 50-day moving average of $19.71 and a 200-day moving average of $21.58. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.98 and a quick ratio of 0.68. Kenvue Inc. has a one year low of $15.47 and a one year high of $25.17.

Kenvue (NYSE:KVUE) last released its earnings results on Thursday, August 7th. The company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.01. Kenvue had a return on equity of 20.06% and a net margin of 9.37%.The business had revenue of $3.84 billion for the quarter, compared to analyst estimates of $3.94 billion. During the same quarter in the prior year, the company posted $0.32 earnings per share. Kenvue’s revenue was down 4.0% on a year-over-year basis. Kenvue has set its FY 2025 guidance at 1.000-1.050 EPS. On average, equities analysts expect that Kenvue Inc. will post 1.14 earnings per share for the current fiscal year.

Kenvue Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 27th. Investors of record on Wednesday, August 13th were issued a dividend of $0.2075 per share. The ex-dividend date was Wednesday, August 13th. This is a positive change from Kenvue’s previous quarterly dividend of $0.21. This represents a $0.83 dividend on an annualized basis and a yield of 5.3%. Kenvue’s dividend payout ratio is presently 112.16%.

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.