Creative Planning Acquires 50,562 Shares of Kenvue Inc. (NYSE:KVUE)

Creative Planning boosted its holdings in shares of Kenvue Inc. (NYSE:KVUE) by 15.4% during the 2nd quarter, Holdings Channel reports. The fund owned 379,045 shares of the company’s stock after buying an additional 50,562 shares during the period. Creative Planning’s holdings in Kenvue were worth $6,891,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in KVUE. The Manufacturers Life Insurance Company grew 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 worth $34,417,000 after acquiring an additional 40,995 shares in the last quarter. CWA Asset Management Group LLC bought a new position in Kenvue during the 4th quarter worth about $291,000. NEOS Investment Management LLC bought a new position in Kenvue during the 4th quarter worth about $526,000. CIBC Asset Management Inc grew its holdings in Kenvue by 27.9% during the 4th quarter. CIBC Asset Management Inc now owns 394,949 shares of the company’s stock worth $8,503,000 after acquiring an additional 86,171 shares in the last quarter. Finally, Rafferty Asset Management LLC grew its holdings in Kenvue by 4.2% during the 4th quarter. Rafferty Asset Management LLC now owns 133,737 shares of the company’s stock worth $2,879,000 after acquiring an additional 5,353 shares in the last quarter. 97.64% of the stock is currently owned by institutional investors.

Kenvue Stock Down 0.7 %

KVUE stock opened at $22.63 on Thursday. The firm has a 50 day moving average of $21.69 and a 200 day moving average of $20.13. The stock has a market capitalization of $43.33 billion, a PE ratio of 29.01, a price-to-earnings-growth ratio of 2.92 and a beta of 1.40. The company has a quick ratio of 0.68, a current ratio of 0.99 and a debt-to-equity ratio of 0.69. Kenvue Inc. has a 52 week low of $17.67 and a 52 week high of $23.55.

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

Kenvue Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 28th. Shareholders of record on Wednesday, August 14th were given a dividend of $0.205 per share. The ex-dividend date of this dividend was Wednesday, August 14th. This is a positive change from Kenvue’s previous quarterly dividend of $0.20. This represents a $0.82 dividend on an annualized basis and a yield of 3.62%. Kenvue’s dividend payout ratio (DPR) is currently 105.13%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on KVUE. Piper Sandler raised their price target on shares of Kenvue from $20.00 to $21.00 and gave the company a “neutral” rating in a report on Monday, September 23rd. Citigroup lowered their price target on shares of Kenvue from $21.00 to $20.00 and set a “neutral” rating on the stock in a report on Wednesday, July 10th. Royal Bank of Canada cut shares of Kenvue from an “outperform” rating to a “sector perform” rating and set a $24.00 price target on the stock. in a report on Tuesday, September 24th. UBS Group raised their price target on shares of Kenvue from $20.00 to $22.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. raised their price target on shares of Kenvue from $22.00 to $24.00 and gave the company an “overweight” rating in a report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Kenvue has a consensus rating of “Hold” and an average price target of $22.10.

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.