Simplicity Wealth LLC Acquires Shares of 47,212 Kenvue Inc. $KVUE

Simplicity Wealth LLC purchased a new stake in Kenvue Inc. (NYSE:KVUE) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 47,212 shares of the company’s stock, valued at approximately $902,000.

Other large investors have also recently added to or reduced their stakes in the company. Wealth Effects LLC acquired a new position in Kenvue in the second quarter worth $3,385,000. HBK Sorce Advisory LLC bought a new position in Kenvue in the 2nd quarter worth about $1,720,000. Global Retirement Partners LLC acquired a new stake in Kenvue in the 2nd quarter valued at approximately $185,000. Alberta Investment Management Corp bought a new stake in shares of Kenvue during the second quarter valued at about $44,570,000. Finally, Fielder Capital Group LLC bought a new stake in shares of Kenvue during the 2nd quarter worth about $263,000. 97.64% of the stock is currently owned by institutional investors.

Kenvue Stock Down 0.0%

NYSE KVUE opened at $19.20 on Monday. Kenvue Inc. has a one year low of $14.02 and a one year high of $21.84. The firm has a market cap of $36.87 billion, a PE ratio of 22.06, a price-to-earnings-growth ratio of 1.37 and a beta of 0.47. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.01 and a quick ratio of 0.71. The stock’s 50 day simple moving average is $18.95 and its 200 day simple moving average is $18.14.

Kenvue (NYSE:KVUE) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.01). Kenvue had a net margin of 10.76% and a return on equity of 21.22%. The firm had revenue of $3.96 billion during the quarter, compared to the consensus estimate of $3.97 billion. During the same quarter in the previous year, the business posted $0.29 earnings per share. The firm’s quarterly revenue was up 3.0% on a year-over-year basis. As a group, sell-side analysts forecast that Kenvue Inc. will post 1.14 earnings per share for the current fiscal year.

Kenvue Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Wednesday, August 12th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 4.4%. This is a boost from Kenvue’s previous quarterly dividend of $0.21. The ex-dividend date is Wednesday, August 12th. Kenvue’s dividend payout ratio is currently 96.55%.

Wall Street Analysts Forecast Growth

KVUE has been the subject of several research analyst reports. Barclays upped their price objective on Kenvue from $18.00 to $19.00 and gave the company an “equal weight” rating in a report on Tuesday, July 21st. Zacks Research downgraded shares of Kenvue from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 7th. Wall Street Zen cut shares of Kenvue from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Weiss Ratings upgraded Kenvue from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, June 15th. Finally, UBS Group dropped their price target on shares of Kenvue from $20.00 to $19.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 11th. Three investment analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $19.27.

Kenvue Company Profile

Kenvue is a consumer health company that was established as a standalone, publicly traded business after separating from Johnson & Johnson. Listed on the New York Stock Exchange under the symbol KVUE, Kenvue focuses on the development, manufacture, marketing and distribution of consumer health and personal care products across a range of categories including skin and beauty care, baby care, oral care, wound care and over‑the‑counter medicines.

The company owns and markets a portfolio of widely recognized consumer brands, including names familiar to global shoppers across retail and pharmacy channels.