Soltis Investment Advisors LLC Boosts Position in Kenvue Inc. (NYSE:KVUE)

Soltis Investment Advisors LLC increased its holdings in Kenvue Inc. (NYSE:KVUE) by 3.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 151,858 shares of the company’s stock after acquiring an additional 5,475 shares during the quarter. Soltis Investment Advisors LLC’s holdings in Kenvue were worth $3,512,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in KVUE. FMR LLC raised its holdings in Kenvue by 2.3% in the third quarter. FMR LLC now owns 137,915,493 shares of the company’s stock worth $3,189,985,000 after purchasing an additional 3,075,019 shares in the last quarter. State Street Corp boosted its stake in Kenvue by 16.8% in the 3rd quarter. State Street Corp now owns 127,213,940 shares of the company’s stock worth $2,942,458,000 after purchasing an additional 18,283,473 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in Kenvue by 8.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 86,979,341 shares of the company’s stock valued at $2,011,832,000 after purchasing an additional 7,115,374 shares during the last quarter. Geode Capital Management LLC increased its stake in Kenvue by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 44,677,077 shares of the company’s stock valued at $1,029,810,000 after purchasing an additional 399,846 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in Kenvue by 21.0% in the second quarter. Bank of New York Mellon Corp now owns 43,444,085 shares of the company’s stock worth $789,813,000 after buying an additional 7,546,362 shares during the last quarter. Institutional investors own 97.64% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on KVUE. Piper Sandler raised their price target on shares of Kenvue from $20.00 to $21.00 and gave the company a “neutral” rating in a research report on Monday, September 23rd. Jefferies Financial Group assumed coverage on Kenvue in a report on Tuesday, September 24th. They issued a “buy” rating and a $27.00 target price for the company. Royal Bank of Canada upgraded Kenvue from a “hold” rating to a “moderate buy” rating in a research note on Monday. Bank of America lifted their price objective on Kenvue from $24.00 to $27.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Finally, JPMorgan Chase & Co. upped their target price on shares of Kenvue from $24.00 to $25.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $22.64.

Kenvue Stock Performance

Shares of NYSE KVUE opened at $22.74 on Wednesday. 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 Inc. has a 12-month low of $17.67 and a 12-month high of $24.46. The firm has a market capitalization of $43.60 billion, a price-to-earnings ratio of 41.35, a price-to-earnings-growth ratio of 2.07 and a beta of 1.37. The firm has a 50 day moving average of $22.96 and a 200 day moving average of $21.15.

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

Kenvue Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th were given a dividend of $0.205 per share. The ex-dividend date of this dividend was Wednesday, November 13th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 3.61%. Kenvue’s payout ratio is currently 149.09%.

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.