LRI Investments LLC Acquires Shares of 4,953 Kenvue Inc. (NYSE:KVUE)

LRI Investments LLC acquired a new stake in shares of Kenvue Inc. (NYSE:KVUE) in the 1st quarter, according to its most recent 13F filing with the SEC. The fund acquired 4,953 shares of the company’s stock, valued at approximately $106,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Blue Trust Inc. acquired a new position in shares of Kenvue in the 4th quarter valued at $53,000. Global Retirement Partners LLC lifted its stake in shares of Kenvue by 95.6% in the 4th quarter. Global Retirement Partners LLC now owns 2,726 shares of the company’s stock valued at $58,000 after purchasing an additional 1,332 shares during the period. Pinnacle Associates Ltd. purchased a new stake in Kenvue in the 4th quarter worth $214,000. Pinnacle Financial Partners Inc increased its holdings in Kenvue by 12.1% in the 4th quarter. Pinnacle Financial Partners Inc now owns 14,539 shares of the company’s stock worth $313,000 after acquiring an additional 1,570 shares in the last quarter. Finally, State of Michigan Retirement System increased its holdings in Kenvue by 4.1% in the 4th quarter. State of Michigan Retirement System now owns 492,039 shares of the company’s stock worth $10,594,000 after acquiring an additional 19,600 shares in the last quarter. 97.64% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently commented on KVUE. Citigroup cut their price target on shares of Kenvue from $21.00 to $20.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. HSBC boosted their price target on shares of Kenvue from $20.00 to $21.00 and gave the stock a “hold” rating in a report on Wednesday, May 8th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Kenvue from $24.00 to $23.00 and set a “buy” rating for the company in a report on Thursday, July 25th. JPMorgan Chase & Co. dropped their target price on shares of Kenvue from $23.00 to $22.00 and set an “overweight” rating for the company in a report on Monday, July 22nd. Finally, Sanford C. Bernstein began coverage on shares of Kenvue in a report on Thursday, April 11th. They set an “underperform” rating and a $18.00 target price for the company. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Kenvue currently has an average rating of “Hold” and a consensus target price of $22.45.

Kenvue Trading Up 1.0 %

NYSE KVUE opened at $18.82 on Friday. The firm’s 50-day moving average is $18.49 and its two-hundred day moving average is $19.45. Kenvue Inc. has a 12 month low of $17.67 and a 12 month high of $24.43. 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 capitalization of $36.04 billion, a P/E ratio of 24.13, a PEG ratio of 2.07 and a beta of 1.38.

Kenvue (NYSE:KVUE) last posted its 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. Kenvue had a net margin of 9.63% and a return on equity of 21.06%. 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% compared to the same quarter last year. On average, sell-side analysts anticipate that Kenvue Inc. will post 1.13 earnings per share for the current year.

Kenvue Increases Dividend

The firm also recently declared 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 represents a $0.82 annualized dividend and a dividend yield of 4.36%. The ex-dividend date is Wednesday, August 14th. This is a boost from Kenvue’s previous quarterly dividend of $0.20. Kenvue’s dividend payout ratio 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.