HighPoint Advisor Group LLC Invests $1.36 Million in Kenvue Inc. (NYSE:KVUE)

HighPoint Advisor Group LLC purchased a new position in shares of Kenvue Inc. (NYSE:KVUE) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 65,618 shares of the company’s stock, valued at approximately $1,355,000.

A number of other hedge funds have also modified their holdings of the business. UniSuper Management Pty Ltd purchased a new position in Kenvue during the 3rd quarter valued at about $35,544,000. Stephens Inc. AR boosted its holdings in Kenvue by 86.1% during the 4th quarter. Stephens Inc. AR now owns 57,694 shares of the company’s stock valued at $1,242,000 after acquiring an additional 26,700 shares during the period. Stifel Financial Corp boosted its holdings in Kenvue by 60.4% during the 4th quarter. Stifel Financial Corp now owns 745,064 shares of the company’s stock valued at $16,041,000 after acquiring an additional 280,591 shares during the period. Fifth Third Bancorp boosted its holdings in Kenvue by 35.3% during the 4th quarter. Fifth Third Bancorp now owns 277,580 shares of the company’s stock valued at $5,976,000 after acquiring an additional 72,435 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its holdings in Kenvue by 2.6% during the 4th quarter. The Manufacturers Life Insurance Company now owns 1,598,567 shares of the company’s stock valued at $34,417,000 after acquiring an additional 40,995 shares during the period. 97.64% of the stock is currently owned by hedge funds and other institutional investors.

Kenvue Trading Down 1.5 %

NYSE:KVUE opened at $18.52 on Wednesday. The firm has a market cap of $35.45 billion and a P/E ratio of 23.74. The company has a current ratio of 0.99, a quick ratio of 0.68 and a debt-to-equity ratio of 0.66. The stock’s 50 day simple moving average is $19.33 and its 200-day simple moving average is $20.08. Kenvue Inc. has a 12-month low of $17.75 and a 12-month high of $26.74.

Kenvue (NYSE:KVUE) last posted its quarterly earnings results on Tuesday, May 7th. The company reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.03. Kenvue had a return on equity of 21.06% and a net margin of 9.63%. The firm had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $3.79 billion. Kenvue’s revenue for the quarter was down 24.9% on a year-over-year basis. Equities analysts anticipate that Kenvue Inc. will post 1.17 EPS for the current year.

Kenvue Dividend Announcement

The company also recently announced 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 4.32%. Kenvue’s payout ratio is 102.56%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on KVUE. The Goldman Sachs Group began coverage on Kenvue in a research note on Friday, March 1st. They issued a “neutral” rating and a $20.00 price objective for the company. Citigroup reiterated a “neutral” rating and issued a $21.00 price objective on shares of Kenvue in a research note on Tuesday, May 28th. Sanford C. Bernstein began coverage on Kenvue in a research note on Thursday, April 11th. They issued an “underperform” rating and a $18.00 price objective for the company. HSBC lifted their price objective on Kenvue from $20.00 to $21.00 and gave the company a “hold” rating in a research note on Wednesday, May 8th. Finally, William Blair began coverage on Kenvue in a research note on Wednesday, April 3rd. They issued a “market perform” rating for the company. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $23.09.

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.