Lake Street Advisors Group LLC Has $436,000 Position in Kenvue Inc. (NYSE:KVUE)

Lake Street Advisors Group LLC increased its stake in shares of Kenvue Inc. (NYSE:KVUE) by 97.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 20,239 shares of the company’s stock after acquiring an additional 9,989 shares during the quarter. Lake Street Advisors Group LLC’s holdings in Kenvue were worth $436,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. UniSuper Management Pty Ltd bought a new position in shares of Kenvue in the 3rd quarter worth $35,544,000. Fifth Third Bancorp grew its holdings in shares of Kenvue by 35.3% during the fourth quarter. Fifth Third Bancorp now owns 277,580 shares of the company’s stock valued at $5,976,000 after buying an additional 72,435 shares during the last quarter. PineStone Asset Management Inc. increased its position in shares of Kenvue by 23.9% during the fourth quarter. PineStone Asset Management Inc. now owns 3,803,846 shares of the company’s stock worth $81,897,000 after acquiring an additional 732,616 shares in the last quarter. Clearbridge Investments LLC raised its holdings in shares of Kenvue by 364.6% in the 3rd quarter. Clearbridge Investments LLC now owns 484,321 shares of the company’s stock worth $9,725,000 after acquiring an additional 380,071 shares during the last quarter. Finally, Brookstone Capital Management acquired a new stake in shares of Kenvue in the 4th quarter worth about $266,000. 97.64% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

KVUE has been the topic of several analyst reports. William Blair initiated coverage on Kenvue in a research report on Wednesday, April 3rd. They set a “market perform” rating on the stock. HSBC increased their target price on shares of Kenvue from $20.00 to $21.00 and gave the company a “hold” rating in a report on Wednesday, May 8th. JPMorgan Chase & Co. cut their price target on shares of Kenvue from $25.00 to $24.00 and set an “overweight” rating on the stock in a report on Friday, February 9th. Sanford C. Bernstein initiated coverage on shares of Kenvue in a research report on Thursday, April 11th. They issued an “underperform” rating and a $18.00 price objective for the company. Finally, Citigroup reissued a “neutral” rating and set a $21.00 target price on shares of Kenvue in a research report on Tuesday, May 28th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $23.09.

Kenvue Price Performance

Shares of KVUE traded down $0.29 during midday trading on Wednesday, hitting $18.86. 10,129,405 shares of the company traded hands, compared to its average volume of 18,769,203. The stock has a 50-day moving average of $19.80 and a 200-day moving average of $20.20. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.99 and a quick ratio of 0.68. Kenvue Inc. has a one year low of $17.82 and a one year high of $26.74. The firm has a market cap of $36.11 billion and a P/E ratio of 24.55.

Kenvue (NYSE:KVUE) last posted its earnings results on Tuesday, May 7th. The company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.03. The business had revenue of $2.89 billion for the quarter, compared to analysts’ expectations of $3.79 billion. Kenvue had a net margin of 9.63% and a return on equity of 21.06%. Kenvue’s quarterly revenue was down 24.9% compared to the same quarter last year. As a group, sell-side analysts predict that Kenvue Inc. will post 1.18 EPS for the current fiscal year.

Kenvue Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 22nd. Stockholders of record on Wednesday, May 8th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 4.24%. The ex-dividend date of this dividend was Tuesday, May 7th. Kenvue’s payout ratio is 102.56%.

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.