Wealthfront Advisers LLC Purchases Shares of 397,683 Kenvue Inc. $KVUE

Wealthfront Advisers LLC purchased a new position in Kenvue Inc. (NYSE:KVUE) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 397,683 shares of the company’s stock, valued at approximately $7,600,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Physician Wealth Advisors Inc. increased its holdings in shares of Kenvue by 67.5% in the fourth quarter. Physician Wealth Advisors Inc. now owns 1,533 shares of the company’s stock worth $26,000 after purchasing an additional 618 shares during the last quarter. Elyxium Wealth LLC purchased a new stake in shares of Kenvue in the fourth quarter worth about $26,000. MV Capital Management Inc. bought a new position in Kenvue during the fourth quarter valued at approximately $28,000. CoreCap Advisors LLC boosted its stake in Kenvue by 64.9% during the second quarter. CoreCap Advisors LLC now owns 1,502 shares of the company’s stock valued at $29,000 after buying an additional 591 shares during the last quarter. Finally, Reflection Asset Management purchased a new position in Kenvue during the 4th quarter valued at approximately $32,000. Institutional investors own 97.64% of the company’s stock.

Wall Street Analyst Weigh In

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

Kenvue Trading Up 1.9%

Shares of KVUE stock opened at $19.16 on Thursday. The company has a market cap of $36.80 billion, a PE ratio of 22.02, a price-to-earnings-growth ratio of 1.35 and a beta of 0.47. Kenvue Inc. has a 1 year low of $14.02 and a 1 year high of $21.84. The stock’s 50 day simple moving average is $19.02 and its two-hundred day simple moving average is $18.18. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.01 and a quick ratio of 0.71.

Kenvue (NYSE:KVUE) last announced its earnings results on Thursday, August 6th. The company reported $0.31 earnings per share for the quarter, missing the consensus estimate 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 analysts’ expectations of $3.97 billion. During the same period in the prior year, the company posted $0.29 EPS. The company’s revenue was up 3.0% compared to the same quarter last year. Research analysts predict that Kenvue Inc. will post 1.14 earnings per share for the current year.

Kenvue Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 26th. Shareholders of record on Wednesday, August 12th will be issued a dividend of $0.21 per share. This is an increase from Kenvue’s previous quarterly dividend of $0.21. This represents a $0.84 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date is Wednesday, August 12th. Kenvue’s dividend payout ratio (DPR) is currently 96.55%.

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.