11,094 Shares in Kenvue Inc. (NYSE:KVUE) Purchased by Merit Financial Group LLC

Merit Financial Group LLC acquired a new position in Kenvue Inc. (NYSE:KVUE) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 11,094 shares of the company’s stock, valued at approximately $237,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Butensky & Cohen Financial Security Inc. grew its stake in shares of Kenvue by 2.3% in the 4th quarter. Butensky & Cohen Financial Security Inc. now owns 204,424 shares of the company’s stock worth $4,364,000 after buying an additional 4,609 shares during the last quarter. Avanza Fonder AB purchased a new stake in shares of Kenvue in the fourth quarter worth $4,009,000. Empirical Asset Management LLC bought a new position in shares of Kenvue during the fourth quarter valued at $1,145,000. Beech Hill Advisors Inc. raised its position in shares of Kenvue by 0.9% in the 4th quarter. Beech Hill Advisors Inc. now owns 106,881 shares of the company’s stock worth $2,282,000 after purchasing an additional 987 shares during the last quarter. Finally, StrongBox Wealth LLC raised its position in shares of Kenvue by 8.0% in the 4th quarter. StrongBox Wealth LLC now owns 82,057 shares of the company’s stock worth $1,752,000 after purchasing an additional 6,085 shares during the last quarter. Institutional investors own 97.64% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. UBS Group reduced their price objective on shares of Kenvue from $24.00 to $23.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Royal Bank of Canada upgraded shares of Kenvue from a “hold” rating to a “moderate buy” rating in a report on Monday, December 9th. Barclays decreased their price objective on shares of Kenvue from $23.00 to $21.00 and set an “equal weight” rating for the company in a report on Friday, January 17th. Bank of America increased their target price on Kenvue from $24.00 to $27.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Finally, JPMorgan Chase & Co. lifted their target price on Kenvue from $24.00 to $25.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. One 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. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $23.08.

Kenvue Price Performance

NYSE KVUE opened at $20.79 on Friday. The stock has a market capitalization of $39.85 billion, a price-to-earnings ratio of 37.79, a PEG ratio of 1.99 and a beta of 1.46. Kenvue Inc. has a 1-year low of $17.67 and a 1-year high of $24.46. 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’s fifty day moving average price is $22.14 and its 200-day moving average price is $21.78.

Kenvue (NYSE:KVUE) last posted its earnings results on Thursday, November 7th. The company reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.01. The company had revenue of $3.90 billion for the quarter, compared to the consensus estimate of $3.92 billion. Kenvue had a return on equity of 21.43% and a net margin of 6.88%. Kenvue’s revenue was down .4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.31 earnings per share. On average, equities analysts predict that Kenvue Inc. will post 1.14 earnings per share for the current year.

Kenvue Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th will be issued a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a dividend yield of 3.95%. The ex-dividend date of this dividend is Wednesday, February 12th. Kenvue’s payout ratio 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.