Birch Hill Investment Advisors LLC Buys 12,038 Shares of Kenvue Inc. (NYSE:KVUE)

Birch Hill Investment Advisors LLC grew its position in Kenvue Inc. (NYSE:KVUE) by 7.4% in the second quarter, Holdings Channel reports. The fund owned 174,336 shares of the company’s stock after acquiring an additional 12,038 shares during the quarter. Birch Hill Investment Advisors LLC’s holdings in Kenvue were worth $3,169,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of KVUE. Manchester Capital Management LLC increased its position in Kenvue by 80.8% in the 1st quarter. Manchester Capital Management LLC now owns 1,186 shares of the company’s stock valued at $25,000 after acquiring an additional 530 shares during the period. Pacific Capital Wealth Advisors Inc. acquired a new stake in Kenvue in the fourth quarter valued at $28,000. Mather Group LLC. bought a new position in Kenvue during the 1st quarter worth $28,000. Riverview Trust Co acquired a new position in Kenvue during the 1st quarter worth about $33,000. Finally, MV Capital Management Inc. grew its position in shares of Kenvue by 71.2% in the 1st quarter. MV Capital Management Inc. now owns 1,544 shares of the company’s stock valued at $33,000 after buying an additional 642 shares during the last quarter. Institutional investors own 97.64% of the company’s stock.

Kenvue Price Performance

Shares of NYSE KVUE opened at $21.95 on Friday. The company has a current ratio of 0.99, a quick ratio of 0.68 and a debt-to-equity ratio of 0.69. The firm’s 50-day moving average price is $19.54 and its 200-day moving average price is $19.56. The firm has a market capitalization of $42.04 billion, a P/E ratio of 28.14, a P/E/G ratio of 2.76 and a beta of 1.38. Kenvue Inc. has a 1-year low of $17.67 and a 1-year high of $23.33.

Kenvue (NYSE:KVUE) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.04. Kenvue had a return on equity of 21.80% and a net margin of 7.23%. The business had revenue of $4 billion for the quarter, compared to the consensus estimate of $3.93 billion. During the same period in the prior year, the business earned $0.32 EPS. The firm’s revenue for the quarter was down .3% on a year-over-year basis. Equities research analysts anticipate that Kenvue Inc. will post 1.08 earnings per share for the current fiscal year.

Kenvue Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 28th. Investors of record on Wednesday, August 14th were given a $0.205 dividend. The ex-dividend date was Wednesday, August 14th. This represents a $0.82 annualized dividend and a yield of 3.74%. This is an increase from Kenvue’s previous quarterly dividend of $0.20. Kenvue’s dividend payout ratio (DPR) is presently 105.13%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Citigroup lowered their price objective on Kenvue from $21.00 to $20.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Kenvue from $23.00 to $24.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. UBS Group upped their price objective on shares of Kenvue from $20.00 to $22.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. HSBC lifted 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. Finally, JPMorgan Chase & Co. increased their price target on Kenvue from $22.00 to $24.00 and gave the stock an “overweight” rating in a report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $22.64.

Kenvue 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.