Kenvue Inc. (NYSE:KVUE) Stake Raised by Patten Group Inc.

Patten Group Inc. grew its holdings in shares of Kenvue Inc. (NYSE:KVUE) by 6.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 46,553 shares of the company’s stock after purchasing an additional 2,870 shares during the period. Patten Group Inc.’s holdings in Kenvue were worth $994,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in the business. Grove Bank & Trust lifted its holdings in shares of Kenvue by 438.4% during the fourth quarter. Grove Bank & Trust now owns 1,163 shares of the company’s stock valued at $25,000 after purchasing an additional 947 shares during the last quarter. Geneos Wealth Management Inc. acquired a new position in shares of Kenvue in the fourth quarter worth about $29,000. SRS Capital Advisors Inc. boosted its holdings in shares of Kenvue by 67.4% in the fourth quarter. SRS Capital Advisors Inc. now owns 1,418 shares of the company’s stock worth $30,000 after buying an additional 571 shares during the period. Fortitude Family Office LLC increased its position in shares of Kenvue by 106.6% in the fourth quarter. Fortitude Family Office LLC now owns 1,506 shares of the company’s stock worth $32,000 after acquiring an additional 777 shares in the last quarter. Finally, Ashton Thomas Securities LLC acquired a new stake in shares of Kenvue during the third quarter valued at approximately $35,000. Institutional investors and hedge funds own 97.64% of the company’s stock.

Wall Street Analyst Weigh In

KVUE has been the topic of several research analyst reports. Citigroup lowered their price objective on shares of Kenvue from $25.00 to $21.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 15th. UBS Group lowered their price target on Kenvue from $23.00 to $21.00 and set a “neutral” rating on the stock in a report on Friday, February 7th. Royal Bank of Canada reissued a “sector perform” rating and issued a $24.00 price objective on shares of Kenvue in a research note on Monday, February 3rd. Barclays lowered their target price on Kenvue from $23.00 to $21.00 and set an “equal weight” rating on the stock in a research note on Friday, January 17th. Finally, Canaccord Genuity Group dropped their target price on Kenvue from $27.00 to $24.00 and set a “buy” rating on the stock in a report on Friday, February 7th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Kenvue currently has an average rating of “Hold” and a consensus target price of $23.33.

Kenvue Stock Up 0.8 %

Kenvue stock opened at $23.79 on Tuesday. The company has a market capitalization of $45.47 billion, a P/E ratio of 44.89, a P/E/G ratio of 2.62 and a beta of 1.45. Kenvue Inc. has a 1-year low of $17.67 and a 1-year high of $24.46. The firm’s fifty day simple moving average is $21.50 and its 200-day simple moving average is $22.29. The company has a current ratio of 1.00, a quick ratio of 0.69 and a debt-to-equity ratio of 0.66.

Kenvue (NYSE:KVUE) last announced its quarterly earnings results on Thursday, February 6th. The company reported $0.26 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.26. Kenvue had a return on equity of 20.97% and a net margin of 6.66%. Sell-side analysts forecast that Kenvue Inc. will post 1.14 earnings per share for the current fiscal year.

Kenvue Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th were given a dividend of $0.205 per share. The ex-dividend date of this dividend was Wednesday, February 12th. This represents a $0.82 dividend on an annualized basis and a yield of 3.45%. Kenvue’s payout ratio is currently 154.72%.

Kenvue Company Profile

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.