NewEdge Wealth LLC Takes Position in Kenvue Inc. $KVUE

NewEdge Wealth LLC purchased a new position in shares of Kenvue Inc. (NYSE:KVUE) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 39,828 shares of the company’s stock, valued at approximately $646,000.

Several other institutional investors also recently modified their holdings of KVUE. AlphaCore Capital LLC raised its position in Kenvue by 9.9% during the 2nd quarter. AlphaCore Capital LLC now owns 5,287 shares of the company’s stock worth $111,000 after purchasing an additional 476 shares during the last quarter. Empirical Finance LLC grew its position in shares of Kenvue by 1.8% in the 2nd quarter. Empirical Finance LLC now owns 28,309 shares of the company’s stock valued at $593,000 after buying an additional 491 shares during the last quarter. J.W. Cole Advisors Inc. increased its stake in shares of Kenvue by 3.8% in the second quarter. J.W. Cole Advisors Inc. now owns 15,488 shares of the company’s stock valued at $324,000 after buying an additional 574 shares during the period. Spire Wealth Management raised its position in shares of Kenvue by 13.5% during the second quarter. Spire Wealth Management now owns 4,863 shares of the company’s stock worth $102,000 after acquiring an additional 580 shares during the last quarter. Finally, Versor Investments LP raised its position in shares of Kenvue by 2.8% during the third quarter. Versor Investments LP now owns 26,016 shares of the company’s stock worth $422,000 after acquiring an additional 716 shares during the last quarter. Institutional investors own 97.64% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on KVUE shares. Citigroup upped their target price on Kenvue from $18.00 to $20.00 and gave the company a “neutral” rating in a report on Wednesday, February 18th. UBS Group boosted their price target on shares of Kenvue from $17.00 to $19.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 18th. Johnson Rice reiterated a “neutral” rating on shares of Kenvue in a research report on Tuesday, October 28th. Jefferies Financial Group downgraded shares of Kenvue from a “buy” rating to a “hold” rating and lowered their target price for the stock from $23.00 to $18.00 in a research note on Friday, January 30th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Kenvue in a report on Friday, January 9th. Three equities research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $19.50.

Insider Buying and Selling

In other news, Director Jeffrey C. Smith bought 3,200,000 shares of the firm’s stock in a transaction that occurred on Friday, December 12th. The stock was acquired at an average cost of $17.37 per share, with a total value of $55,584,000.00. Following the transaction, the director directly owned 27,307,632 shares of the company’s stock, valued at approximately $474,333,567.84. This represents a 13.27% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.68% of the stock is owned by insiders.

Kenvue Stock Performance

NYSE:KVUE opened at $18.95 on Tuesday. The company has a quick ratio of 0.69, a current ratio of 0.98 and a debt-to-equity ratio of 0.66. Kenvue Inc. has a twelve month low of $14.02 and a twelve month high of $25.17. The company has a fifty day moving average of $17.57 and a 200-day moving average of $17.57. The firm has a market capitalization of $36.30 billion, a P/E ratio of 24.60, a P/E/G ratio of 4.29 and a beta of 0.59.

Kenvue (NYSE:KVUE) last issued its earnings results on Tuesday, February 17th. The company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.05. The business had revenue of $3.78 billion for the quarter, compared to analyst estimates of $3.68 billion. Kenvue had a net margin of 9.72% and a return on equity of 19.86%. Kenvue’s revenue was up 3.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.26 earnings per share. As a group, sell-side analysts anticipate that Kenvue Inc. will post 1.14 EPS for the current year.

Kenvue Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 25th. Stockholders of record on Wednesday, February 11th will be paid a $0.2075 dividend. The ex-dividend date is Wednesday, February 11th. This represents a $0.83 annualized dividend and a dividend yield of 4.4%. Kenvue’s dividend payout ratio (DPR) is currently 107.79%.

Kenvue Company 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.