Wealthfront Advisers LLC Makes New Investment in Kenvue Inc. $KVUE

Wealthfront Advisers LLC acquired a new stake in shares of Kenvue Inc. (NYSE:KVUE) during the second quarter, Holdings Channel reports. The institutional investor acquired 397,683 shares of the company’s stock, valued at approximately $7,600,000.

Several other hedge funds have also recently made changes to their positions in KVUE. Physician Wealth Advisors Inc. increased its holdings 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. Elyxium Wealth LLC purchased a new position in shares of Kenvue in the fourth quarter worth about $26,000. MV Capital Management Inc. acquired a new stake in shares of Kenvue during the fourth quarter worth about $28,000. CoreCap Advisors LLC lifted its holdings in shares of Kenvue by 64.9% during the second quarter. CoreCap Advisors LLC now owns 1,502 shares of the company’s stock worth $29,000 after purchasing an additional 591 shares during the period. Finally, Reflection Asset Management purchased a new stake in Kenvue in the fourth quarter valued at approximately $32,000. 97.64% of the stock is owned by institutional investors and hedge funds.

Kenvue Stock Up 1.9%

KVUE stock opened at $19.16 on Thursday. 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 50-day simple moving average of $19.02 and a 200-day simple moving average of $18.18. The stock has a market capitalization of $36.80 billion, a P/E ratio of 22.02, a P/E/G ratio of 1.35 and a beta of 0.47.

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

Kenvue Increases Dividend

The company also recently announced 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 an increase from Kenvue’s previous quarterly dividend of $0.21. This represents a $0.84 dividend on an annualized basis and a dividend yield of 4.4%. Kenvue’s payout ratio is currently 96.55%.

Wall Street Analyst Weigh In

KVUE has been the topic of a number of research reports. Weiss Ratings upgraded shares of Kenvue from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, June 15th. UBS Group lowered their price target on shares of Kenvue from $20.00 to $19.00 and set a “neutral” rating on the stock in a report on Tuesday, August 11th. Wall Street Zen downgraded Kenvue from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Barclays increased their price target on Kenvue from $18.00 to $19.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 21st. Finally, Zacks Research cut Kenvue from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 7th. Three analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $19.27.

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.