Venturi Wealth Management LLC Raises Position in Kenvue Inc. (NYSE:KVUE)

Venturi Wealth Management LLC increased its position in shares of Kenvue Inc. (NYSE:KVUE) by 100.1% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,024 shares of the company’s stock after purchasing an additional 3,014 shares during the period. Venturi Wealth Management LLC’s holdings in Kenvue were worth $139,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in KVUE. Leo Wealth LLC increased its position in Kenvue by 0.3% during the 3rd quarter. Leo Wealth LLC now owns 151,611 shares of the company’s stock worth $3,507,000 after purchasing an additional 481 shares during the period. Massmutual Trust Co. FSB ADV boosted its stake in shares of Kenvue by 6.2% in the third quarter. Massmutual Trust Co. FSB ADV now owns 8,400 shares of the company’s stock valued at $194,000 after buying an additional 492 shares in the last quarter. Wolff Wiese Magana LLC boosted its stake in shares of Kenvue by 0.7% in the third quarter. Wolff Wiese Magana LLC now owns 76,999 shares of the company’s stock valued at $1,781,000 after buying an additional 501 shares in the last quarter. Marathon Capital Management grew its holdings in Kenvue by 0.3% during the second quarter. Marathon Capital Management now owns 149,699 shares of the company’s stock worth $2,722,000 after acquiring an additional 514 shares during the period. Finally, Poehling Capital Management INC. raised its position in Kenvue by 0.5% in the second quarter. Poehling Capital Management INC. now owns 104,934 shares of the company’s stock worth $1,908,000 after acquiring an additional 547 shares in the last quarter. Institutional investors and hedge funds own 97.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on KVUE shares. UBS Group boosted their target price on shares of Kenvue from $20.00 to $22.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. JPMorgan Chase & Co. boosted their price objective on shares of Kenvue from $24.00 to $25.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. Piper Sandler increased their target price on shares of Kenvue from $20.00 to $21.00 and gave the company a “neutral” rating in a report on Monday, September 23rd. Deutsche Bank Aktiengesellschaft boosted their price target on Kenvue from $23.00 to $24.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Finally, Jefferies Financial Group initiated coverage on Kenvue in a research note on Tuesday, September 24th. They issued a “buy” rating and a $27.00 price objective for the company. One research analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Kenvue currently has an average rating of “Hold” and an average target price of $22.64.

Kenvue Trading Down 1.3 %

Shares of Kenvue stock opened at $23.13 on Thursday. Kenvue Inc. has a 1 year low of $17.67 and a 1 year high of $23.95. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.00 and a quick ratio of 0.69. The business has a 50 day moving average price of $22.72 and a 200 day moving average price of $20.62. The company has a market capitalization of $44.35 billion, a P/E ratio of 42.05, a P/E/G ratio of 2.15 and a beta of 1.36.

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

Kenvue Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th will be issued a $0.205 dividend. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $0.82 dividend on an annualized basis and a yield of 3.55%. Kenvue’s dividend payout ratio (DPR) is 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.