Bruce G. Allen Investments LLC Decreases Stake in Kenvue Inc. (NYSE:KVUE)

Bruce G. Allen Investments LLC trimmed its position in Kenvue Inc. (NYSE:KVUE) by 15.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,508 shares of the company’s stock after selling 981 shares during the quarter. Bruce G. Allen Investments LLC’s holdings in Kenvue were worth $132,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of KVUE. Fulton Bank N.A. increased its holdings in shares of Kenvue by 0.6% in the 1st quarter. Fulton Bank N.A. now owns 78,888 shares of the company’s stock valued at $1,892,000 after acquiring an additional 465 shares during the last quarter. Principle Wealth Partners LLC boosted its holdings in Kenvue by 3.7% in the fourth quarter. Principle Wealth Partners LLC now owns 14,194 shares of the company’s stock valued at $303,000 after purchasing an additional 500 shares in the last quarter. White Pine Capital LLC increased its stake in Kenvue by 1.0% in the fourth quarter. White Pine Capital LLC now owns 54,572 shares of the company’s stock valued at $1,165,000 after purchasing an additional 542 shares during the last quarter. Deseret Mutual Benefit Administrators raised its holdings in Kenvue by 29.0% during the fourth quarter. Deseret Mutual Benefit Administrators now owns 2,528 shares of the company’s stock worth $54,000 after purchasing an additional 568 shares in the last quarter. Finally, SRS Capital Advisors Inc. raised its holdings in Kenvue by 67.4% during 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. 97.64% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Redburn Atlantic began coverage on shares of Kenvue in a report on Thursday, April 10th. They issued a “neutral” rating and a $23.50 target price for the company. UBS Group boosted their price target on shares of Kenvue from $24.00 to $25.00 and gave the company a “neutral” rating in a research report on Friday, May 9th. Canaccord Genuity Group upped their price objective 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. Piper Sandler raised their price objective on Kenvue from $24.00 to $27.00 and gave the stock an “overweight” rating in a report on Monday, February 24th. Finally, Evercore ISI started coverage on Kenvue in a research report on Monday, March 24th. They set an “in-line” rating and a $25.00 target price on the stock. Seven research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Kenvue presently has a consensus rating of “Hold” and an average price target of $25.33.

Kenvue Trading Up 0.4%

Shares of Kenvue stock opened at $21.73 on Monday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.69 and a current ratio of 1.00. The company has a market capitalization of $41.69 billion, a P/E ratio of 41.00, a PEG ratio of 2.62 and a beta of 0.98. Kenvue Inc. has a 1 year low of $17.67 and a 1 year high of $25.17. The company’s fifty day moving average is $23.12 and its two-hundred day moving average is $22.58.

Kenvue (NYSE:KVUE) last announced its earnings results on Thursday, May 8th. The company reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.01. The business had revenue of $3.74 billion during the quarter, compared to the consensus estimate of $3.69 billion. Kenvue had a net margin of 6.66% and a return on equity of 20.97%. The business’s quarterly revenue was down 3.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.28 earnings per share. Analysts forecast that Kenvue Inc. will post 1.14 earnings per share for the current year.

Kenvue Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 28th. Shareholders of record on Wednesday, May 14th were given a dividend of $0.205 per share. The ex-dividend date of this dividend was Wednesday, May 14th. This represents a $0.82 dividend on an annualized basis and a yield of 3.77%. Kenvue’s payout ratio is 149.09%.

Kenvue 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.