Oppenheimer Asset Management Inc. Raises Holdings in Kenvue Inc. (NYSE:KVUE)

Oppenheimer Asset Management Inc. grew its position in shares of Kenvue Inc. (NYSE:KVUE) by 0.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,341,054 shares of the company’s stock after purchasing an additional 7,739 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Kenvue were worth $32,158,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in KVUE. SRS Capital Advisors Inc. grew its position in Kenvue by 67.4% in the fourth quarter. SRS Capital Advisors Inc. now owns 1,418 shares of the company’s stock worth $30,000 after acquiring an additional 571 shares in the last quarter. Clarity Asset Management Inc. purchased a new position in Kenvue in the fourth quarter worth about $45,000. SBI Securities Co. Ltd. purchased a new position in Kenvue in the fourth quarter worth about $46,000. Continuum Advisory LLC grew its position in Kenvue by 2,071.1% in the first quarter. Continuum Advisory LLC now owns 1,954 shares of the company’s stock worth $47,000 after acquiring an additional 1,864 shares in the last quarter. Finally, Deseret Mutual Benefit Administrators grew its position in Kenvue by 29.0% in the fourth quarter. Deseret Mutual Benefit Administrators now owns 2,528 shares of the company’s stock worth $54,000 after acquiring an additional 568 shares in the last quarter. Hedge funds and other institutional investors own 97.64% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on KVUE. Canaccord Genuity Group lifted their price target on Kenvue from $24.00 to $29.00 and gave the stock a “buy” rating in a research report on Wednesday, March 5th. Redburn Atlantic started coverage on shares of Kenvue in a research note on Thursday, April 10th. They set a “neutral” rating and a $23.50 price target for the company. Citigroup reaffirmed a “neutral” rating on shares of Kenvue in a research note on Friday, June 13th. Barclays lifted their price target on shares of Kenvue from $22.00 to $23.00 and gave the company an “equal weight” rating in a research note on Monday, May 12th. Finally, Piper Sandler lifted their price target on shares of Kenvue from $24.00 to $27.00 and gave the company an “overweight” rating in a research note on Monday, February 24th. Seven investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $25.33.

Kenvue Trading Up 0.1%

NYSE KVUE opened at $21.39 on Monday. The company has a market capitalization of $41.03 billion, a PE ratio of 38.88, a P/E/G ratio of 3.32 and a beta of 0.98. The company has a fifty day moving average of $22.99 and a 200 day moving average of $22.40. Kenvue Inc. has a 1 year low of $17.67 and a 1 year high of $25.17. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.86 and a quick ratio of 0.60.

Kenvue (NYSE:KVUE) last posted its earnings results on Thursday, May 8th. The company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.01. Kenvue had a net margin of 6.90% and a return on equity of 20.87%. The business had revenue of $3.74 billion for the quarter, compared to analyst estimates of $3.69 billion. During the same period in the prior year, the company posted $0.28 EPS. The company’s revenue for the quarter was down 3.9% on a year-over-year basis. Research analysts forecast that Kenvue Inc. will post 1.14 earnings per share for the current year.

Kenvue Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 28th. Investors of record on Wednesday, May 14th were paid a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a yield of 3.83%. The ex-dividend date was Wednesday, May 14th. Kenvue’s dividend payout ratio is presently 149.09%.

Kenvue Profile

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.