Drive Wealth Management LLC Purchases 1,475 Shares of Kenvue Inc. $KVUE

Drive Wealth Management LLC grew its position in shares of Kenvue Inc. (NYSE:KVUE) by 2.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 55,242 shares of the company’s stock after purchasing an additional 1,475 shares during the period. Drive Wealth Management LLC’s holdings in Kenvue were worth $1,156,000 at the end of the most recent reporting period.

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

Kenvue Trading Up 8.4%

KVUE opened at $15.30 on Monday. The business has a 50 day simple moving average of $18.54 and a two-hundred day simple moving average of $21.02. The firm has a market capitalization of $29.37 billion, a price-to-earnings ratio of 20.68, a PEG ratio of 2.20 and a beta of 0.72. 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 $14.05 and a one year high of $25.17.

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

Kenvue Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 27th. Shareholders of record on Wednesday, August 13th were issued a dividend of $0.2075 per share. This is a positive change from Kenvue’s previous quarterly dividend of $0.21. The ex-dividend date was Wednesday, August 13th. This represents a $0.83 dividend on an annualized basis and a dividend yield of 5.4%. Kenvue’s dividend payout ratio (DPR) is currently 112.16%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on KVUE shares. Weiss Ratings reissued a “hold (c-)” rating on shares of Kenvue in a research note on Tuesday, October 14th. Canaccord Genuity Group lowered their target price on Kenvue from $29.00 to $26.00 and set a “buy” rating for the company in a research note on Friday, August 8th. Redburn Partners set a $22.00 target price on Kenvue in a research note on Friday, September 26th. Rothschild & Co Redburn raised Kenvue from a “neutral” rating to a “buy” rating and lowered their target price for the company from $22.50 to $22.00 in a research note on Friday, September 26th. Finally, Rothschild Redb raised Kenvue from a “hold” rating to a “strong-buy” rating in a research note on Friday, September 26th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Kenvue currently has a consensus rating of “Hold” and a consensus target price of $21.18.

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.