Lipe & Dalton acquired a new position in shares of Kenvue Inc. (NYSE:KVUE – Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 43,400 shares of the company’s stock, valued at approximately $1,147,000.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Norris Perne & French LLP MI purchased a new position in Kenvue during the 2nd quarter valued at about $12,145,000. Raymond James & Associates purchased a new position in Kenvue during the 2nd quarter valued at about $9,534,000. DekaBank Deutsche Girozentrale purchased a new position in Kenvue during the 2nd quarter valued at about $8,629,000. Teacher Retirement System of Texas purchased a new position in Kenvue during the 2nd quarter valued at about $7,926,000. Finally, Benson Investment Management Company Inc. purchased a new position in Kenvue during the 2nd quarter valued at about $3,797,000. Institutional investors and hedge funds own 11.33% of the company’s stock.
Kenvue Stock Up 1.6 %
Kenvue stock traded up $0.31 during trading hours on Friday, reaching $20.07. 25,090,299 shares of the company were exchanged, compared to its average volume of 26,991,444. Kenvue Inc. has a 12 month low of $19.39 and a 12 month high of $27.80. The firm has a 50-day moving average price of $22.14. The company has a quick ratio of 0.79, a current ratio of 1.17 and a debt-to-equity ratio of 0.70.
Kenvue (NYSE:KVUE – Get Free Report) last issued its quarterly earnings results on Thursday, July 20th. The company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.02. The business had revenue of $4.01 billion for the quarter, compared to analyst estimates of $3.96 billion. The company’s revenue was up 5.4% compared to the same quarter last year. Equities analysts expect that Kenvue Inc. will post 1.28 earnings per share for the current year.
Kenvue Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, September 7th. Investors of record on Monday, August 28th were paid a $0.20 dividend. The ex-dividend date of this dividend was Friday, August 25th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.99%.
Analyst Ratings Changes
Several equities analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft raised Kenvue from a “hold” rating to a “buy” rating and set a $27.00 target price on the stock in a research note on Monday, September 11th. Argus started coverage on Kenvue in a research note on Wednesday, September 6th. They issued a “hold” rating for the company. The Goldman Sachs Group raised Kenvue from a “neutral” rating to a “buy” rating and set a $29.00 price target for the company in a research note on Thursday, August 24th. Canaccord Genuity Group started coverage on Kenvue in a research note on Thursday, September 7th. They issued a “buy” rating and a $28.00 price target for the company. Finally, Citigroup lowered their price target on Kenvue from $28.00 to $26.00 and set a “neutral” rating for the company in a research note on Friday, July 21st. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $27.82.
Insider Activity at Kenvue
In other news, Director Richard E. Allison, Jr. bought 5,598 shares of the business’s stock in a transaction that occurred on Wednesday, August 30th. The stock was acquired at an average cost of $22.96 per share, for a total transaction of $128,530.08. Following the completion of the purchase, the director now owns 25,598 shares of the company’s stock, valued at approximately $587,730.08. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
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, and other products under the Tylenol, Nicorette, and Zyrtec brands.