Avantax Advisory Services Inc. Trims Stake in Kenvue Inc. (NYSE:KVUE)

Avantax Advisory Services Inc. reduced its holdings in shares of Kenvue Inc. (NYSE:KVUE) by 2.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 177,718 shares of the company’s stock after selling 5,107 shares during the period. Avantax Advisory Services Inc.’s holdings in Kenvue were worth $3,794,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Grove Bank & Trust increased its holdings in 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 buying an additional 947 shares during the last quarter. Geneos Wealth Management Inc. purchased a new stake in shares of Kenvue in the fourth quarter worth $29,000. SRS Capital Advisors Inc. increased its stake 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 purchasing an additional 571 shares in the last quarter. Fortitude Family Office LLC increased its stake 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 purchasing an additional 777 shares in the last quarter. Finally, Versant Capital Management Inc increased its stake in shares of Kenvue by 300.8% in the fourth quarter. Versant Capital Management Inc now owns 1,920 shares of the company’s stock worth $41,000 after purchasing an additional 1,441 shares in the last quarter. 97.64% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. 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. Deutsche Bank Aktiengesellschaft cut shares of Kenvue from a “buy” rating to a “hold” rating and cut their target price for the company from $25.00 to $24.00 in a research note on Thursday, December 12th. Canaccord Genuity Group raised their target price on shares of Kenvue from $24.00 to $29.00 and gave the company a “buy” rating in a research note on Wednesday, March 5th. Citigroup cut their target price on shares of Kenvue from $25.00 to $21.00 and set a “neutral” rating for the company in a research note on Wednesday, January 15th. Finally, UBS Group cut their target price on shares of Kenvue from $23.00 to $21.00 and set a “neutral” rating for the company in a research note on Friday, February 7th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Kenvue currently has a consensus rating of “Hold” and an average target price of $23.75.

Kenvue Price Performance

KVUE stock opened at $22.81 on Friday. Kenvue Inc. has a 52 week low of $17.67 and a 52 week high of $24.46. The company has a quick ratio of 0.69, a current ratio of 1.00 and a debt-to-equity ratio of 0.66. The company has a fifty day simple moving average of $21.84 and a two-hundred day simple moving average of $22.38. The firm has a market capitalization of $43.59 billion, a P/E ratio of 43.03, a price-to-earnings-growth ratio of 2.62 and a beta of 1.25.

Kenvue (NYSE:KVUE) last released its earnings results on Thursday, February 6th. The company reported $0.26 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.26. Kenvue had a net margin of 6.66% and a return on equity of 20.97%. Analysts anticipate that Kenvue Inc. will post 1.14 earnings per share for the current fiscal year.

Kenvue Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th were issued a $0.205 dividend. The ex-dividend date of this dividend was Wednesday, February 12th. This represents a $0.82 annualized dividend and a dividend yield of 3.60%. Kenvue’s dividend payout ratio (DPR) is presently 154.72%.

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.