Beacon Investment Advisory Services Inc. Cuts Stake in Kenvue Inc. (NYSE:KVUE)

Beacon Investment Advisory Services Inc. lowered its stake in shares of Kenvue Inc. (NYSE:KVUE) by 1.4% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 235,694 shares of the company’s stock after selling 3,290 shares during the quarter. Beacon Investment Advisory Services Inc.’s holdings in Kenvue were worth $5,452,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Riverview Trust Co bought a new position in shares of Kenvue during the 3rd quarter valued at approximately $30,000. Ashton Thomas Securities LLC purchased a new stake in Kenvue during the third quarter valued at about $35,000. Deseret Mutual Benefit Administrators increased its stake in shares of Kenvue by 49.7% in the third quarter. Deseret Mutual Benefit Administrators now owns 1,960 shares of the company’s stock worth $45,000 after purchasing an additional 651 shares in the last quarter. Studio Investment Management LLC raised its position in shares of Kenvue by 52.1% in the second quarter. Studio Investment Management LLC now owns 2,468 shares of the company’s stock valued at $45,000 after purchasing an additional 845 shares during the period. Finally, Brooklyn Investment Group purchased a new stake in shares of Kenvue during the 3rd quarter valued at approximately $71,000. Hedge funds and other institutional investors own 97.64% of the company’s stock.

Kenvue Stock Down 0.2 %

Shares of NYSE:KVUE opened at $24.08 on Monday. The firm has a market capitalization of $46.17 billion, a PE ratio of 43.78, a price-to-earnings-growth ratio of 2.19 and a beta of 1.36. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.69 and a current ratio of 1.00. Kenvue Inc. has a 52-week low of $17.67 and a 52-week high of $24.46. The firm has a fifty day moving average of $22.94 and a 200 day moving average of $20.99.

Kenvue (NYSE:KVUE) last posted its quarterly earnings data on Thursday, November 7th. The company reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.01. Kenvue had a return on equity of 21.43% and a net margin of 6.88%. The firm had revenue of $3.90 billion during the quarter, compared to analysts’ expectations of $3.92 billion. During the same period in the prior year, the business earned $0.31 EPS. The company’s revenue for the quarter was down .4% compared to the same quarter last year. As a group, research analysts anticipate that Kenvue Inc. will post 1.07 EPS for the current fiscal year.

Kenvue Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th were issued a dividend of $0.205 per share. The ex-dividend date of this dividend was Wednesday, November 13th. This represents a $0.82 dividend on an annualized basis and a yield of 3.41%. Kenvue’s dividend payout ratio is currently 149.09%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on KVUE. Deutsche Bank Aktiengesellschaft increased their target price on Kenvue from $23.00 to $24.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Royal Bank of Canada cut Kenvue from an “outperform” rating to a “sector perform” rating and set a $24.00 price target on the stock. in a research report on Tuesday, September 24th. UBS Group increased their price target on shares of Kenvue from $20.00 to $22.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Bank of America boosted their price objective on shares of Kenvue from $24.00 to $27.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Finally, JPMorgan Chase & Co. increased their target price on shares of Kenvue from $24.00 to $25.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Kenvue currently has a consensus rating of “Hold” and a consensus target price of $22.64.

About Kenvue

Kenvue Inc operates as a consumer health company worldwide. The company operates through three segments: Self Care, Skin Health and Beauty, and Essential Health. The Self Care segment offers cough, cold and allergy, pain care, digestive health, smoking cessation, eye care, and other products under the Tylenol, Motrin, Benadryl, Nicorette, Zarbee's, ORSLTM, Rhinocort, Calpol, and Zyrtec brands.