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

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

Other hedge funds have also recently made changes to their positions in the company. Cambridge Investment Research Advisors Inc. raised its stake in shares of Kenvue by 4.0% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 106,140 shares of the company’s stock valued at $2,545,000 after buying an additional 4,034 shares during the period. Renaissance Capital LLC grew its position in shares of Kenvue by 8.3% in the second quarter. Renaissance Capital LLC now owns 629,177 shares of the company’s stock valued at $13,169,000 after purchasing an additional 48,267 shares in the last quarter. Farther Finance Advisors LLC grew its position in shares of Kenvue by 80.7% in the second quarter. Farther Finance Advisors LLC now owns 36,196 shares of the company’s stock valued at $758,000 after purchasing an additional 16,164 shares in the last quarter. Arlington Partners LLC purchased a new position in shares of Kenvue in the second quarter valued at $2,110,000. Finally, Cornell Pochily Investment Advisors Inc. grew its position in shares of Kenvue by 144.6% in the second quarter. Cornell Pochily Investment Advisors Inc. now owns 33,173 shares of the company’s stock valued at $694,000 after purchasing an additional 19,609 shares in the last quarter. 97.64% of the stock is currently owned by institutional investors.

Kenvue Price Performance

Kenvue stock opened at $15.30 on Monday. Kenvue Inc. has a 52 week low of $14.05 and a 52 week high of $25.17. The business has a 50-day simple moving average of $18.54 and a 200 day simple moving average of $21.02. The company has a quick ratio of 0.68, a current ratio of 0.98 and a debt-to-equity ratio of 0.66. The stock has a market cap of $29.37 billion, a price-to-earnings ratio of 20.68, a PEG ratio of 2.20 and a beta of 0.72.

Kenvue (NYSE:KVUE) last posted its earnings results on Thursday, August 7th. The company reported $0.29 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 during the quarter, compared to analysts’ expectations of $3.94 billion. During the same period in the previous year, the business earned $0.32 earnings per share. The firm’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, research analysts forecast that Kenvue Inc. will post 1.14 earnings per share for the current fiscal year.

Kenvue Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 27th. Shareholders of record on Wednesday, August 13th were paid a dividend of $0.2075 per share. This represents a $0.83 annualized dividend and a yield of 5.4%. This is an increase from Kenvue’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend was Wednesday, August 13th. Kenvue’s dividend payout ratio is presently 112.16%.

Wall Street Analysts Forecast Growth

KVUE has been the subject of several recent research reports. Rothschild & Co Redburn upgraded Kenvue from a “neutral” rating to a “buy” rating and reduced their price target for the company from $22.50 to $22.00 in a research report on Friday, September 26th. Zacks Research upgraded Kenvue to a “strong sell” rating in a research report on Monday, August 11th. Barclays reduced their price target on Kenvue from $20.00 to $17.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 1st. Evercore ISI reduced their price target on Kenvue from $23.00 to $18.00 and set an “in-line” rating for the company in a research report on Tuesday, September 23rd. Finally, The Goldman Sachs Group reduced their price target on Kenvue from $22.00 to $19.00 and set a “neutral” rating for the company in a research report on Thursday, October 2nd. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $21.18.

About Kenvue

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.