Wealth Effects LLC Takes Position in Kenvue Inc. $KVUE

Wealth Effects LLC acquired a new stake in Kenvue Inc. (NYSE:KVUE) during the 2nd quarter, Holdings Channel.com reports. The firm acquired 177,130 shares of the company’s stock, valued at approximately $3,385,000. Kenvue makes up 0.9% of Wealth Effects LLC’s holdings, making the stock its 23rd biggest holding.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. CoreCap Advisors LLC grew its position in Kenvue by 64.9% in the 2nd quarter. CoreCap Advisors LLC now owns 1,502 shares of the company’s stock valued at $29,000 after acquiring an additional 591 shares in the last quarter. Elyxium Wealth LLC acquired a new stake in shares of Kenvue during the fourth quarter worth about $26,000. Physician Wealth Advisors Inc. boosted its stake in shares of Kenvue by 67.5% in the fourth quarter. Physician Wealth Advisors Inc. now owns 1,533 shares of the company’s stock valued at $26,000 after purchasing an additional 618 shares during the period. MV Capital Management Inc. purchased a new position in shares of Kenvue in the fourth quarter valued at approximately $28,000. Finally, Reflection Asset Management purchased a new position in shares of Kenvue in the fourth quarter valued at approximately $32,000. 97.64% of the stock is currently owned by hedge funds and other institutional investors.

Kenvue Trading Down 0.0%

Shares of Kenvue stock opened at $19.20 on Monday. The company has a current ratio of 1.01, a quick ratio of 0.71 and a debt-to-equity ratio of 0.67. The company has a fifty day simple moving average of $18.95 and a 200-day simple moving average of $18.14. The stock has a market cap of $36.87 billion, a price-to-earnings ratio of 22.06, a PEG ratio of 1.37 and a beta of 0.47. Kenvue Inc. has a 12-month low of $14.02 and a 12-month high of $21.84.

Kenvue (NYSE:KVUE) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.31 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.01). Kenvue had a return on equity of 21.22% and a net margin of 10.76%.The company had revenue of $3.96 billion for the quarter, compared to analyst estimates of $3.97 billion. During the same quarter in the prior year, the business earned $0.29 earnings per share. Kenvue’s revenue was up 3.0% compared to the same quarter last year. On average, equities analysts forecast 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 dividend of $0.21 per share. The ex-dividend date of this dividend is Wednesday, August 12th. This is a positive change from Kenvue’s previous quarterly dividend of $0.21. This represents a $0.84 annualized dividend and a dividend yield of 4.4%. Kenvue’s dividend payout ratio is 96.55%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on KVUE. Wall Street Zen downgraded shares of Kenvue from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Zacks Research cut shares of Kenvue from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 7th. Barclays raised their price target on shares of Kenvue from $18.00 to $19.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 21st. Weiss Ratings raised Kenvue from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, June 15th. Finally, UBS Group cut their price objective on Kenvue from $20.00 to $19.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 11th. Three analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price 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.