InterOcean Capital Group LLC Buys 231,534 Shares of Kenvue Inc. (NYSE:KVUE)

InterOcean Capital Group LLC grew its stake in Kenvue Inc. (NYSE:KVUE) by 35.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 892,398 shares of the company’s stock after acquiring an additional 231,534 shares during the quarter. InterOcean Capital Group LLC’s holdings in Kenvue were worth $19,213,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of KVUE. Empirical Finance LLC acquired a new position in shares of Kenvue in the 3rd quarter valued at approximately $336,000. UniSuper Management Pty Ltd acquired a new position in shares of Kenvue in the 3rd quarter valued at approximately $35,544,000. Fifth Third Bancorp grew its position in shares of Kenvue by 35.3% in the 4th quarter. Fifth Third Bancorp now owns 277,580 shares of the company’s stock valued at $5,976,000 after purchasing an additional 72,435 shares during the period. PineStone Asset Management Inc. grew its position in shares of Kenvue by 23.9% in the 4th quarter. PineStone Asset Management Inc. now owns 3,803,846 shares of the company’s stock valued at $81,897,000 after purchasing an additional 732,616 shares during the period. Finally, Clearbridge Investments LLC grew its position in shares of Kenvue by 364.6% in the 3rd quarter. Clearbridge Investments LLC now owns 484,321 shares of the company’s stock valued at $9,725,000 after purchasing an additional 380,071 shares during the period. 97.64% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

KVUE has been the subject of a number of recent research reports. JPMorgan Chase & Co. reduced their price target on Kenvue from $25.00 to $24.00 and set an “overweight” rating for the company in a research report on Friday, February 9th. Sanford C. Bernstein began coverage on Kenvue in a research note on Thursday, April 11th. They set an “underperform” rating and a $18.00 price objective on the stock. Royal Bank of Canada dropped their price objective on Kenvue from $25.00 to $24.00 and set an “outperform” rating on the stock in a research note on Friday, February 9th. The Goldman Sachs Group assumed coverage on Kenvue in a research note on Friday, March 1st. They issued a “neutral” rating and a $20.00 price target on the stock. Finally, HSBC increased their price target on Kenvue from $20.00 to $21.00 and gave the company a “hold” rating in a research note on Wednesday, May 8th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Kenvue has a consensus rating of “Hold” and an average price target of $24.38.

Kenvue Trading Up 0.4 %

KVUE traded up $0.07 on Tuesday, hitting $19.97. 26,613,137 shares of the company were exchanged, compared to its average volume of 18,865,570. The firm has a fifty day simple moving average of $20.04 and a two-hundred day simple moving average of $20.20. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.68 and a current ratio of 0.99. Kenvue Inc. has a 12 month low of $17.82 and a 12 month high of $27.43. The stock has a market capitalization of $38.24 billion and a PE ratio of 25.73.

Kenvue (NYSE:KVUE) last issued its quarterly earnings data on Tuesday, May 7th. The company reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.03. The firm had revenue of $2.89 billion for the quarter, compared to analyst estimates of $3.79 billion. Kenvue had a return on equity of 21.06% and a net margin of 9.63%. Kenvue’s quarterly revenue was down 24.9% on a year-over-year basis. Sell-side analysts expect that Kenvue Inc. will post 1.15 earnings per share for the current year.

Kenvue Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Wednesday, May 8th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.01%. The ex-dividend date is Tuesday, May 7th. Kenvue’s payout ratio is presently 102.56%.

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.