Dynasty Wealth Management LLC Invests $914,000 in Kenvue Inc. (NYSE:KVUE)

Dynasty Wealth Management LLC bought a new stake in Kenvue Inc. (NYSE:KVUE) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 42,602 shares of the company’s stock, valued at approximately $914,000.

Several other institutional investors also recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD increased its stake in Kenvue by 23.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 134,565,333 shares of the company’s stock valued at $2,887,773,000 after acquiring an additional 25,238,112 shares during the period. Vanguard Group Inc. increased its position in Kenvue by 12.0% in the first quarter. Vanguard Group Inc. now owns 166,789,085 shares of the company’s stock worth $3,579,294,000 after purchasing an additional 17,908,497 shares during the period. Norges Bank acquired a new position in shares of Kenvue in the 4th quarter valued at $282,100,000. Clearbridge Investments LLC boosted its holdings in Kenvue by 16,051.1% during the first quarter. Clearbridge Investments LLC now owns 9,813,597 shares of the company’s stock worth $210,600,000 after buying an additional 9,752,836 shares during the last quarter. Finally, Van ECK Associates Corp acquired a new position in Kenvue during the first quarter valued at approximately $208,745,000. 97.64% of the stock is owned by institutional investors.

Kenvue Stock Down 0.7 %

Shares of NYSE:KVUE traded down $0.13 during trading on Wednesday, reaching $18.62. 6,057,874 shares of the stock were exchanged, compared to its average volume of 18,863,273. 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 fifty day moving average of $18.55 and a two-hundred day moving average of $19.48. The firm has a market cap of $35.65 billion, a price-to-earnings ratio of 24.03, a price-to-earnings-growth ratio of 2.08 and a beta of 1.40. Kenvue Inc. has a 1-year low of $17.67 and a 1-year high of $24.43.

Kenvue (NYSE:KVUE) last announced its earnings results on Tuesday, May 7th. The company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.03. Kenvue had a return on equity of 21.06% and a net margin of 9.63%. The company had revenue of $2.89 billion for the quarter, compared to analysts’ expectations of $3.79 billion. The business’s revenue was down 24.9% on a year-over-year basis. Research analysts anticipate that Kenvue Inc. will post 1.13 earnings per share for the current fiscal year.

Kenvue Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 28th. Stockholders of record on Wednesday, August 14th will be given a dividend of $0.205 per share. This is an increase from Kenvue’s previous quarterly dividend of $0.20. This represents a $0.82 dividend on an annualized basis and a dividend yield of 4.40%. The ex-dividend date of this dividend is Wednesday, August 14th. Kenvue’s dividend payout ratio is currently 102.56%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. HSBC upped their price objective on Kenvue from $20.00 to $21.00 and gave the company a “hold” rating in a report on Wednesday, May 8th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Kenvue from $24.00 to $23.00 and set a “buy” rating on the stock in a report on Thursday, July 25th. William Blair initiated coverage on shares of Kenvue in a research note on Wednesday, April 3rd. They issued a “market perform” rating for the company. JPMorgan Chase & Co. decreased their target price on shares of Kenvue from $23.00 to $22.00 and set an “overweight” rating on the stock in a research note on Monday, July 22nd. Finally, Sanford C. Bernstein assumed coverage on Kenvue in a research note on Thursday, April 11th. They issued an “underperform” rating and a $18.00 price objective on the stock. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Kenvue presently has a consensus rating of “Hold” and a consensus price target of $22.45.

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.