Providence Capital Advisors LLC Invests $2.56 Million in Kenvue Inc. (NYSE:KVUE)

Providence Capital Advisors LLC purchased a new stake in shares of Kenvue Inc. (NYSE:KVUE) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 119,744 shares of the company’s stock, valued at approximately $2,557,000.

Other hedge funds also recently bought and sold shares of the company. Handelsbanken Fonder AB boosted its holdings in shares of Kenvue by 2.9% in the 4th quarter. Handelsbanken Fonder AB now owns 742,184 shares of the company’s stock worth $15,846,000 after purchasing an additional 21,222 shares during the period. Alberta Investment Management Corp increased its position in Kenvue by 23.2% during the fourth quarter. Alberta Investment Management Corp now owns 582,895 shares of the company’s stock valued at $12,445,000 after acquiring an additional 109,700 shares during the last quarter. Longbow Finance SA raised its stake in shares of Kenvue by 5.0% in the fourth quarter. Longbow Finance SA now owns 280,568 shares of the company’s stock valued at $5,990,000 after acquiring an additional 13,287 shares during the period. Steward Partners Investment Advisory LLC lifted its holdings in shares of Kenvue by 143.1% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 47,938 shares of the company’s stock worth $1,023,000 after acquiring an additional 28,216 shares during the last quarter. Finally, CORDA Investment Management LLC. grew its holdings in Kenvue by 1.4% during the 4th quarter. CORDA Investment Management LLC. now owns 1,253,096 shares of the company’s stock valued at $26,754,000 after purchasing an additional 17,466 shares during the last quarter. Hedge funds and other institutional investors own 97.64% of the company’s stock.

Kenvue Stock Performance

Shares of KVUE stock opened at $23.52 on Friday. The company has a current ratio of 1.00, a quick ratio of 0.69 and a debt-to-equity ratio of 0.66. The company has a market cap of $44.95 billion, a PE ratio of 44.38, a PEG ratio of 2.62 and a beta of 1.25. Kenvue Inc. has a 12-month low of $17.67 and a 12-month high of $24.46. The business’s fifty day simple moving average is $22.27 and its 200-day simple moving average is $22.46.

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

Kenvue Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th were paid a $0.205 dividend. The ex-dividend date of this dividend was Wednesday, February 12th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 3.49%. Kenvue’s payout ratio is currently 154.72%.

Analyst Ratings Changes

KVUE has been the topic of a number of analyst reports. Evercore ISI started coverage on Kenvue in a research note on Monday. They set an “in-line” rating and a $25.00 target price on the stock. Citigroup decreased their target price on Kenvue from $25.00 to $21.00 and set a “neutral” rating for the company in a research report on Wednesday, January 15th. Canaccord Genuity Group boosted 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. Barclays raised their price target on shares of Kenvue from $21.00 to $23.00 and gave the stock an “equal weight” rating in a research note on Thursday. Finally, Piper Sandler boosted their price objective on shares of Kenvue from $24.00 to $27.00 and gave the company an “overweight” rating in a research report on Monday, February 24th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $24.00.

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.