Wealth Effects LLC Buys 33,494 Shares of Kenvue Inc. $KVUE

Wealth Effects LLC lifted its position in Kenvue Inc. (NYSE:KVUE) by 30.7% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 142,458 shares of the company’s stock after purchasing an additional 33,494 shares during the period. Kenvue accounts for about 0.9% of Wealth Effects LLC’s investment portfolio, making the stock its 20th biggest position. Wealth Effects LLC’s holdings in Kenvue were worth $2,456,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in Kenvue by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 234,951,484 shares of the company’s stock worth $4,052,913,000 after purchasing an additional 1,604,040 shares during the period. State Street Corp lifted its holdings in shares of Kenvue by 3.5% in the 4th quarter. State Street Corp now owns 118,865,134 shares of the company’s stock worth $2,050,424,000 after buying an additional 4,063,257 shares during the period. Geode Capital Management LLC grew its position in shares of Kenvue by 0.8% during the 4th quarter. Geode Capital Management LLC now owns 49,862,574 shares of the company’s stock worth $856,778,000 after buying an additional 371,322 shares in the last quarter. Independent Franchise Partners LLP grew its position in shares of Kenvue by 56.3% during the 4th quarter. Independent Franchise Partners LLP now owns 48,146,476 shares of the company’s stock worth $830,527,000 after buying an additional 17,343,785 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Kenvue during the fourth quarter valued at $756,862,000. Institutional investors own 97.64% of the company’s stock.

Insider Transactions at Kenvue

In related news, General Counsel Matthew Orlando sold 38,491 shares of the company’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $17.66, for a total transaction of $679,751.06. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 1.59% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Barclays decreased their price objective on Kenvue from $19.00 to $18.00 and set an “equal weight” rating for the company in a report on Tuesday, April 14th. Weiss Ratings raised shares of Kenvue from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, June 15th. Argus raised shares of Kenvue to a “hold” rating in a research report on Friday, March 6th. Zacks Research upgraded shares of Kenvue from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 8th. Finally, UBS Group cut their price objective on shares of Kenvue from $19.00 to $18.00 and set a “neutral” rating on the stock in a report on Tuesday, April 7th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and twelve have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $19.33.

Kenvue Trading Up 1.0%

NYSE:KVUE opened at $19.14 on Friday. The stock has a market capitalization of $36.76 billion, a price-to-earnings ratio of 22.52, a PEG ratio of 1.44 and a beta of 0.54. Kenvue Inc. has a 52 week low of $14.02 and a 52 week high of $22.87. The company has a quick ratio of 0.70, a current ratio of 0.98 and a debt-to-equity ratio of 0.67. The firm has a 50 day moving average of $17.66 and a 200 day moving average of $17.63.

Kenvue (NYSE:KVUE) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.05. Kenvue had a net margin of 10.61% and a return on equity of 20.81%. The business had revenue of $3.91 billion for the quarter, compared to analyst estimates of $3.84 billion. During the same period in the previous year, the company earned $0.24 earnings per share. The business’s revenue for the quarter was up 4.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Kenvue Inc. will post 1.16 earnings per share for the current fiscal year.

Kenvue Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 27th. Investors of record on Wednesday, May 13th were paid a dividend of $0.2075 per share. This represents a $0.83 annualized dividend and a yield of 4.3%. The ex-dividend date was Wednesday, May 13th. Kenvue’s payout ratio is 97.65%.

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.