Allen Mooney & Barnes Investment Advisors LLC Makes New $11.67 Million Investment in Kenvue Inc. (NYSE:KVUE)

Allen Mooney & Barnes Investment Advisors LLC purchased a new stake in Kenvue Inc. (NYSE:KVUE) in the fourth quarter, Holdings Channel reports. The firm purchased 546,663 shares of the company’s stock, valued at approximately $11,671,000. Kenvue accounts for 2.0% of Allen Mooney & Barnes Investment Advisors LLC’s holdings, making the stock its 18th largest position.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. State Street Corp lifted its position in shares of Kenvue by 16.8% in the 3rd quarter. State Street Corp now owns 127,213,940 shares of the company’s stock worth $2,942,458,000 after purchasing an additional 18,283,473 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in Kenvue by 8.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 86,979,341 shares of the company’s stock worth $2,011,832,000 after buying an additional 7,115,374 shares during the period. Holocene Advisors LP boosted its position in Kenvue by 75.5% during the 3rd quarter. Holocene Advisors LP now owns 13,886,454 shares of the company’s stock valued at $321,194,000 after acquiring an additional 5,975,392 shares in the last quarter. M&G PLC increased its holdings in shares of Kenvue by 538.0% in the 3rd quarter. M&G PLC now owns 4,341,172 shares of the company’s stock valued at $99,847,000 after acquiring an additional 3,660,730 shares during the period. Finally, FMR LLC increased its holdings in shares of Kenvue by 2.3% in the 3rd quarter. FMR LLC now owns 137,915,493 shares of the company’s stock valued at $3,189,985,000 after acquiring an additional 3,075,019 shares during the period. Institutional investors own 97.64% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on KVUE shares. JPMorgan Chase & Co. raised their price objective on Kenvue from $24.00 to $25.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. Deutsche Bank Aktiengesellschaft cut shares of Kenvue from a “buy” rating to a “hold” rating and lowered their price target for the company from $25.00 to $24.00 in a report on Thursday, December 12th. Jefferies Financial Group initiated coverage on shares of Kenvue in a research note on Tuesday, September 24th. They set a “buy” rating and a $27.00 price objective for the company. Bank of America raised their target price on shares of Kenvue from $24.00 to $27.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Finally, Barclays raised shares of Kenvue to a “hold” rating in a report on Thursday, December 12th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $23.09.

Kenvue Trading Up 0.4 %

Kenvue stock opened at $21.06 on Wednesday. Kenvue Inc. has a 52 week low of $17.67 and a 52 week high of $24.46. The stock has a 50-day moving average price of $22.54 and a 200 day moving average price of $21.65. The company has a quick ratio of 0.69, a current ratio of 1.00 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $40.38 billion, a price-to-earnings ratio of 38.29, a price-to-earnings-growth ratio of 2.02 and a beta of 1.46.

Kenvue (NYSE:KVUE) last announced its quarterly earnings data on Thursday, November 7th. The company reported $0.28 EPS for the quarter, beating the consensus estimate of $0.27 by $0.01. The business had revenue of $3.90 billion during the quarter, compared to analysts’ expectations of $3.92 billion. Kenvue had a net margin of 6.88% and a return on equity of 21.43%. The business’s quarterly revenue was down .4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.31 EPS. Sell-side analysts anticipate that Kenvue Inc. will post 1.07 EPS for the current year.

Kenvue Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders 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 3.89%. Kenvue’s payout ratio is currently 149.09%.

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.