Picton Mahoney Asset Management Buys Shares of 121,200 Kenvue Inc. (NYSE:KVUE)

Picton Mahoney Asset Management bought a new stake in shares of Kenvue Inc. (NYSE:KVUE) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 121,200 shares of the company’s stock, valued at approximately $2,609,000.

A number of other hedge funds have also added to or reduced their stakes in KVUE. Clearstead Advisors LLC purchased a new position in shares of Kenvue during the third quarter worth about $25,000. Planned Solutions Inc. purchased a new position in Kenvue in the fourth quarter worth about $27,000. Venturi Wealth Management LLC purchased a new position in shares of Kenvue during the 3rd quarter valued at about $28,000. EverSource Wealth Advisors LLC bought a new stake in Kenvue during the 3rd quarter valued at approximately $28,000. Finally, Pacific Capital Wealth Advisors Inc. bought a new stake in Kenvue in the 4th quarter worth approximately $28,000. Hedge funds and other institutional investors own 97.64% of the company’s stock.

Kenvue Stock Performance

Shares of KVUE stock traded up $0.37 on Wednesday, reaching $20.45. 23,642,579 shares of the stock were exchanged, compared to its average volume of 17,121,814. The company has a current ratio of 1.12, a quick ratio of 0.78 and a debt-to-equity ratio of 0.69. The firm has a 50 day moving average of $19.87 and a two-hundred day moving average of $20.12. Kenvue Inc. has a 1-year low of $17.82 and a 1-year high of $27.80.

Kenvue (NYSE:KVUE) last released its quarterly earnings data on Tuesday, May 7th. The company reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.03. The business had revenue of $2.89 billion during the quarter, compared to the consensus estimate of $3.79 billion. Kenvue had a return on equity of 15.62% and a net margin of 9.87%. The firm’s revenue was down 24.9% on a year-over-year basis. Research analysts predict that Kenvue Inc. will post 1.15 earnings per share for the current year.

Kenvue Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors of record on Wednesday, May 8th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, May 7th. This represents a $0.80 annualized dividend and a yield of 3.91%.

Wall Street Analyst Weigh In

KVUE has been the subject of several research reports. JPMorgan Chase & Co. lowered their target price on Kenvue from $25.00 to $24.00 and set an “overweight” rating for the company in a report on Friday, February 9th. Sanford C. Bernstein initiated coverage on Kenvue in a report on Thursday, April 11th. They issued an “underperform” rating and a $18.00 price target for the company. William Blair started coverage on Kenvue in a research note on Wednesday, April 3rd. They issued a “market perform” rating for the company. Royal Bank of Canada cut their target price on Kenvue from $25.00 to $24.00 and set an “outperform” rating on the stock in a research report on Friday, February 9th. Finally, The Goldman Sachs Group assumed coverage on Kenvue in a research report on Friday, March 1st. They set a “neutral” rating and a $20.00 target price on the stock. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $24.38.

Kenvue Company 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.