Everett Harris & Co. CA Purchases New Stake in Kenvue Inc. $KVUE

Everett Harris & Co. CA purchased a new stake in shares of Kenvue Inc. (NYSE:KVUE) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 33,351 shares of the company’s stock, valued at approximately $637,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. CoreCap Advisors LLC increased its position in shares of Kenvue by 64.9% in the second quarter. CoreCap Advisors LLC now owns 1,502 shares of the company’s stock worth $29,000 after acquiring an additional 591 shares in the last quarter. Elyxium Wealth LLC purchased a new position in shares of Kenvue in the 4th quarter valued at $26,000. Physician Wealth Advisors Inc. lifted its holdings in shares of Kenvue by 67.5% during the 4th quarter. Physician Wealth Advisors Inc. now owns 1,533 shares of the company’s stock valued at $26,000 after acquiring an additional 618 shares in the last quarter. MV Capital Management Inc. acquired a new position in shares of Kenvue during the 4th quarter valued at $28,000. Finally, Reflection Asset Management acquired a new position in shares of Kenvue during the 4th quarter valued at $32,000. 97.64% of the stock is owned by institutional investors and hedge funds.

Kenvue Trading Down 0.0%

KVUE opened at $19.20 on Friday. The firm’s 50 day moving average is $18.95 and its 200-day moving average is $18.14. Kenvue Inc. has a 52-week low of $14.02 and a 52-week high of $21.84. The company has a quick ratio of 0.71, a current ratio of 1.01 and a debt-to-equity ratio of 0.67. The firm has a market capitalization of $36.87 billion, a P/E ratio of 22.06, a P/E/G ratio of 1.37 and a beta of 0.47.

Kenvue (NYSE:KVUE) last announced its earnings results on Thursday, August 6th. The company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.01). The firm had revenue of $3.96 billion during the quarter, compared to analysts’ expectations of $3.97 billion. Kenvue had a net margin of 10.76% and a return on equity of 21.22%. Kenvue’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.29 earnings per share. Analysts expect that Kenvue Inc. will post 1.14 EPS for the current fiscal year.

Kenvue Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 26th. Shareholders of record on Wednesday, August 12th will be issued a $0.21 dividend. The ex-dividend date is Wednesday, August 12th. This represents a $0.84 dividend on an annualized basis and a yield of 4.4%. This is an increase from Kenvue’s previous quarterly dividend of $0.21. Kenvue’s dividend payout ratio (DPR) is presently 96.55%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on KVUE. Wall Street Zen cut shares of Kenvue from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Zacks Research lowered Kenvue from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 7th. Weiss Ratings upgraded Kenvue from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, June 15th. UBS Group decreased their target price on Kenvue from $20.00 to $19.00 and set a “neutral” rating for the company in a research report on Tuesday. Finally, Barclays increased their target price on Kenvue from $18.00 to $19.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 21st. Three analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Kenvue currently has an average rating of “Hold” and an average price target of $19.27.

Kenvue Profile

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.