Cornerstone Wealth Group LLC Purchases 223,537 Shares of Kenvue Inc. (NYSE:KVUE)

Cornerstone Wealth Group LLC raised its position in shares of Kenvue Inc. (NYSE:KVUE) by 176.2% in the first quarter, HoldingsChannel reports. The fund owned 350,371 shares of the company’s stock after acquiring an additional 223,537 shares during the period. Cornerstone Wealth Group LLC’s holdings in Kenvue were worth $7,519,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Stephens Inc. AR raised its position in shares of Kenvue by 86.1% in the fourth quarter. Stephens Inc. AR now owns 57,694 shares of the company’s stock valued at $1,242,000 after buying an additional 26,700 shares in the last quarter. Stifel Financial Corp raised its position in Kenvue by 60.4% during the fourth quarter. Stifel Financial Corp now owns 745,064 shares of the company’s stock valued at $16,041,000 after purchasing an additional 280,591 shares in the last quarter. Raleigh Capital Management Inc. raised its position in Kenvue by 93,834.8% during the fourth quarter. Raleigh Capital Management Inc. now owns 43,210 shares of the company’s stock valued at $930,000 after purchasing an additional 43,164 shares in the last quarter. Fifth Third Bancorp raised its position in 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 purchasing an additional 72,435 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in Kenvue by 2.6% during the fourth quarter. The Manufacturers Life Insurance Company now owns 1,598,567 shares of the company’s stock valued at $34,417,000 after purchasing an additional 40,995 shares in the last quarter. Institutional investors own 97.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Citigroup restated a “neutral” rating and set a $21.00 price objective on shares of Kenvue in a research report on Tuesday, May 28th. HSBC boosted their target price on shares of Kenvue from $20.00 to $21.00 and gave the stock a “hold” rating in a research note on Wednesday, May 8th. William Blair initiated coverage on shares of Kenvue in a research note on Wednesday, April 3rd. They set a “market perform” rating on the stock. Finally, Sanford C. Bernstein initiated coverage on shares of Kenvue in a research note on Thursday, April 11th. They set an “underperform” rating and a $18.00 target price on the stock. One analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $23.09.

Kenvue Trading Down 1.3 %

Shares of Kenvue stock traded down $0.24 during trading on Friday, hitting $18.18. The company’s stock had a trading volume of 57,323,267 shares, compared to its average volume of 21,130,516. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.99 and a quick ratio of 0.68. The stock has a market cap of $34.81 billion and a price-to-earnings ratio of 23.31. The stock has a 50-day moving average price of $19.19 and a two-hundred day moving average price of $19.98. Kenvue Inc. has a 52 week low of $17.75 and a 52 week high of $26.66.

Kenvue (NYSE:KVUE) last issued its quarterly earnings results on Tuesday, May 7th. The company reported $0.28 EPS for the quarter, beating analysts’ consensus estimates 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%. The company’s revenue for the quarter was down 24.9% compared to the same quarter last year. Equities research analysts anticipate that Kenvue Inc. will post 1.17 EPS for the current fiscal year.

Kenvue Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 22nd. Shareholders of record on Wednesday, May 8th were given a dividend of $0.20 per share. The ex-dividend date was Tuesday, May 7th. This represents a $0.80 dividend on an annualized basis and a yield of 4.40%. Kenvue’s dividend payout ratio (DPR) is currently 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.