First Horizon Advisors Inc. Buys 6,983 Shares of Kenvue Inc. (NYSE:KVUE)

First Horizon Advisors Inc. increased its position in Kenvue Inc. (NYSE:KVUE) by 59.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,748 shares of the company’s stock after purchasing an additional 6,983 shares during the period. First Horizon Advisors Inc.’s holdings in Kenvue were worth $404,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Commonwealth Equity Services LLC bought a new position in shares of Kenvue during the third quarter valued at approximately $5,053,000. Cambridge Investment Research Advisors Inc. purchased a new position in Kenvue during the third quarter valued at $1,809,000. Raymond James Financial Services Advisors Inc. boosted its holdings in Kenvue by 1,089.1% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 582,662 shares of the company’s stock worth $11,700,000 after acquiring an additional 533,660 shares in the last quarter. Stratos Wealth Partners LTD. bought a new stake in Kenvue in the third quarter worth $982,000. Finally, Brown Advisory Inc. purchased a new stake in shares of Kenvue in the third quarter worth $26,068,000. Institutional investors own 97.64% of the company’s stock.

Kenvue Price Performance

Shares of NYSE:KVUE opened at $19.20 on Friday. The stock’s 50-day simple moving average is $19.82 and its two-hundred day simple moving average is $20.12. Kenvue Inc. has a 52-week low of $17.82 and a 52-week high of $27.80. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.12 and a quick ratio of 0.78.

Kenvue (NYSE:KVUE) last issued its quarterly earnings data on Thursday, February 8th. The company reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.03. The firm had revenue of $3.67 billion for the quarter, compared to analysts’ expectations of $3.78 billion. Kenvue had a net margin of 9.87% and a return on equity of 15.62%. The company’s revenue for the quarter was down 2.7% compared to the same quarter last year. As a group, equities analysts forecast that Kenvue Inc. will post 1.15 earnings per share for the current year.

Kenvue Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Wednesday, May 8th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.17%. The ex-dividend date is Tuesday, May 7th.

Analysts Set New Price Targets

A number of research firms have weighed in on KVUE. Sanford C. Bernstein assumed coverage on shares of Kenvue in a research note on Thursday, April 11th. They set an “underperform” rating and a $18.00 price objective for the company. JPMorgan Chase & Co. reduced their price target on shares of Kenvue from $25.00 to $24.00 and set an “overweight” rating for the company in a research report on Friday, February 9th. William Blair assumed coverage on Kenvue in a research report on Wednesday, April 3rd. They issued a “market perform” rating on the stock. Royal Bank of Canada cut their target price on Kenvue from $25.00 to $24.00 and set an “outperform” rating on the stock in a research note on Friday, February 9th. Finally, The Goldman Sachs Group started coverage on Kenvue in a research note on Friday, March 1st. They issued a “neutral” rating and a $20.00 price target for the company. One research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Kenvue currently has a consensus rating of “Hold” and a consensus target price of $24.85.

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.