NewEdge Wealth LLC Makes New $646,000 Investment in Kenvue Inc. $KVUE

NewEdge Wealth LLC bought a new position in shares of Kenvue Inc. (NYSE:KVUE) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 39,828 shares of the company’s stock, valued at approximately $646,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. grew its position in Kenvue by 1.8% during the second quarter. Vanguard Group Inc. now owns 233,246,267 shares of the company’s stock worth $4,881,844,000 after buying an additional 4,101,880 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in Kenvue by 27.1% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 310,686 shares of the company’s stock valued at $5,042,000 after acquiring an additional 66,192 shares in the last quarter. Aviva PLC lifted its position in shares of Kenvue by 6.8% during the 2nd quarter. Aviva PLC now owns 1,432,477 shares of the company’s stock valued at $29,982,000 after acquiring an additional 91,744 shares during the period. Bessemer Group Inc. grew its holdings in shares of Kenvue by 40.6% during the 2nd quarter. Bessemer Group Inc. now owns 3,319,933 shares of the company’s stock worth $69,487,000 after purchasing an additional 958,757 shares in the last quarter. Finally, Renaissance Capital LLC increased its position in shares of Kenvue by 55.8% in the third quarter. Renaissance Capital LLC now owns 980,436 shares of the company’s stock worth $15,912,000 after purchasing an additional 351,259 shares during the period. 97.64% of the stock is currently owned by institutional investors and hedge funds.

Kenvue Price Performance

KVUE stock opened at $18.95 on Tuesday. The stock has a market cap of $36.30 billion, a price-to-earnings ratio of 24.60, a P/E/G ratio of 4.29 and a beta of 0.59. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.98 and a quick ratio of 0.69. The company has a 50 day simple moving average of $17.57 and a 200 day simple moving average of $17.57. Kenvue Inc. has a 1 year low of $14.02 and a 1 year high of $25.17.

Kenvue (NYSE:KVUE) last posted its earnings results on Tuesday, February 17th. The company reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.05. The firm had revenue of $3.78 billion for the quarter, compared to analysts’ expectations of $3.68 billion. Kenvue had a net margin of 9.72% and a return on equity of 19.86%. The company’s revenue was up 3.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.26 earnings per share. Research analysts anticipate that Kenvue Inc. will post 1.14 EPS for the current fiscal year.

Kenvue Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 25th. Investors of record on Wednesday, February 11th will be given a dividend of $0.2075 per share. The ex-dividend date is Wednesday, February 11th. This represents a $0.83 dividend on an annualized basis and a yield of 4.4%. Kenvue’s payout ratio is currently 107.79%.

Insider Buying and Selling

In other news, Director Jeffrey C. Smith purchased 3,200,000 shares of the business’s stock in a transaction dated Friday, December 12th. The shares were purchased at an average cost of $17.37 per share, with a total value of $55,584,000.00. Following the completion of the purchase, the director owned 27,307,632 shares of the company’s stock, valued at $474,333,567.84. This trade represents a 13.27% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 1.68% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on KVUE shares. Evercore set a $18.00 price objective on shares of Kenvue in a research report on Tuesday, October 28th. Citigroup upped their price target on shares of Kenvue from $18.00 to $20.00 and gave the stock a “neutral” rating in a report on Wednesday, February 18th. Edward Jones lowered shares of Kenvue from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 3rd. UBS Group boosted their price objective on shares of Kenvue from $17.00 to $19.00 and gave the company a “neutral” rating in a research report on Wednesday, February 18th. Finally, Barclays raised their target price on Kenvue from $17.00 to $18.00 and gave the company an “equal weight” rating in a report on Monday, November 10th. Three research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $19.50.

About Kenvue

Kenvue is a consumer health company that was established as a standalone, publicly traded business after separating from Johnson & Johnson. Listed on the New York Stock Exchange under the symbol KVUE, Kenvue focuses on the development, manufacture, marketing and distribution of consumer health and personal care products across a range of categories including skin and beauty care, baby care, oral care, wound care and over‑the‑counter medicines.

The company owns and markets a portfolio of widely recognized consumer brands, including names familiar to global shoppers across retail and pharmacy channels.