Graypoint LLC Takes Position in Kenvue Inc. (NYSE:KVUE)

Graypoint LLC bought a new position in shares of Kenvue Inc. (NYSE:KVUE) in the 3rd quarter, HoldingsChannel reports. The institutional investor bought 10,095 shares of the company’s stock, valued at approximately $233,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Riverview Trust Co purchased a new position in shares of Kenvue during the 3rd quarter valued at about $30,000. Studio Investment Management LLC raised its position in Kenvue by 52.1% during the second quarter. Studio Investment Management LLC now owns 2,468 shares of the company’s stock valued at $45,000 after acquiring an additional 845 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new position in Kenvue in the second quarter valued at approximately $61,000. Mather Group LLC. boosted its position in Kenvue by 230.9% in the 2nd quarter. Mather Group LLC. now owns 4,232 shares of the company’s stock worth $77,000 after purchasing an additional 2,953 shares in the last quarter. Finally, AlphaMark Advisors LLC purchased a new stake in Kenvue in the 3rd quarter worth approximately $77,000. 97.64% of the stock is currently owned by institutional investors and hedge funds.

Kenvue Stock Up 3.1 %

Shares of KVUE opened at $23.68 on Friday. The stock has a 50 day moving average price of $22.65 and a 200 day moving average price of $20.54. Kenvue Inc. has a one year low of $17.67 and a one year high of $23.72. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.68 and a current ratio of 0.99. The stock has a market capitalization of $45.35 billion, a price-to-earnings ratio of 40.83, a PEG ratio of 2.94 and a beta of 1.36.

Kenvue (NYSE:KVUE) last released its earnings results on Thursday, November 7th. The company reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.01. The business had revenue of $3.90 billion during the quarter, compared to analyst estimates of $3.92 billion. Kenvue had a net margin of 7.23% and a return on equity of 21.80%. The company’s revenue for the quarter was down .4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.31 earnings per share. Equities research analysts forecast that Kenvue Inc. will post 1.08 earnings per share for the current fiscal year.

Kenvue Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th will be issued a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a dividend yield of 3.46%. The ex-dividend date is Wednesday, November 13th. Kenvue’s dividend payout ratio is currently 141.38%.

Analyst Ratings Changes

KVUE has been the subject of several analyst reports. Piper Sandler boosted their target price on shares of Kenvue from $20.00 to $21.00 and gave the company a “neutral” rating in a research note on Monday, September 23rd. Bank of America upped their price objective on shares of Kenvue from $24.00 to $27.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. UBS Group lifted their price target on Kenvue from $20.00 to $22.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft increased their price target on Kenvue from $23.00 to $24.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Finally, Jefferies Financial Group began coverage on Kenvue in a research report on Tuesday, September 24th. They issued a “buy” rating and a $27.00 price objective for the company. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $22.64.

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.