Vance Wealth Inc. Purchases New Holdings in Kenvue Inc. (NYSE:KVUE)

Vance Wealth Inc. purchased a new stake in shares of Kenvue Inc. (NYSE:KVUE) during the 3rd quarter, Holdings Channel reports. The institutional investor purchased 9,325 shares of the company’s stock, valued at approximately $216,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Verity & Verity LLC increased its stake in Kenvue by 27.6% during the third quarter. Verity & Verity LLC now owns 17,491 shares of the company’s stock valued at $405,000 after acquiring an additional 3,783 shares during the period. Richard C. Young & CO. LTD. increased its stake in Kenvue by 1.2% during the third quarter. Richard C. Young & CO. LTD. now owns 372,388 shares of the company’s stock valued at $8,613,000 after acquiring an additional 4,322 shares during the period. AMG National Trust Bank increased its stake in Kenvue by 8.9% during the third quarter. AMG National Trust Bank now owns 280,095 shares of the company’s stock valued at $6,479,000 after acquiring an additional 22,909 shares during the period. TrinityPoint Wealth LLC increased its stake in Kenvue by 1.7% during the third quarter. TrinityPoint Wealth LLC now owns 60,490 shares of the company’s stock valued at $1,399,000 after acquiring an additional 1,015 shares during the period. Finally, Clarkston Capital Partners LLC increased its stake in Kenvue by 0.5% during the third quarter. Clarkston Capital Partners LLC now owns 1,368,958 shares of the company’s stock valued at $31,664,000 after acquiring an additional 7,164 shares during the period. 97.64% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

KVUE has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft upped their price objective on Kenvue from $23.00 to $24.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. Piper Sandler upped their price objective on Kenvue from $20.00 to $21.00 and gave the company a “neutral” rating in a research note on Monday, September 23rd. Royal Bank of Canada lowered Kenvue from an “outperform” rating to a “sector perform” rating and set a $24.00 price objective on the stock. in a research note on Tuesday, September 24th. JPMorgan Chase & Co. upped their price objective on Kenvue from $24.00 to $25.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. Finally, Bank of America upped their price objective on Kenvue from $24.00 to $27.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Kenvue has an average rating of “Hold” and a consensus price target of $22.64.

Kenvue Stock Down 0.4 %

NYSE:KVUE opened at $23.73 on Tuesday. The stock’s fifty day moving average price is $22.77 and its two-hundred day moving average price is $20.71. 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 cap of $45.50 billion, a price-to-earnings ratio of 43.15, a P/E/G ratio of 2.16 and a beta of 1.36. Kenvue Inc. has a 52-week low of $17.67 and a 52-week high of $24.13.

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

Kenvue Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th will be given a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a dividend yield of 3.46%. The ex-dividend date of this dividend is Wednesday, November 13th. Kenvue’s dividend payout ratio is currently 149.09%.

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.