Fortitude Family Office LLC Increases Stock Position in Kenvue Inc. (NYSE:KVUE)

Fortitude Family Office LLC increased its position in shares of Kenvue Inc. (NYSE:KVUE) by 106.6% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,506 shares of the company’s stock after buying an additional 777 shares during the period. Fortitude Family Office LLC’s holdings in Kenvue were worth $32,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Huntington National Bank increased its position in shares of Kenvue by 26.5% in the 3rd quarter. Huntington National Bank now owns 4,161 shares of the company’s stock worth $96,000 after purchasing an additional 871 shares during the last quarter. ING Groep NV increased its holdings in Kenvue by 23.6% in the third quarter. ING Groep NV now owns 3,576,616 shares of the company’s stock valued at $82,727,000 after buying an additional 681,954 shares during the last quarter. Kennon Green & Company LLC raised its stake in Kenvue by 140.7% during the second quarter. Kennon Green & Company LLC now owns 159,106 shares of the company’s stock valued at $2,893,000 after buying an additional 93,008 shares in the last quarter. Saturna Capital Corp lifted its holdings in Kenvue by 29.9% during the 3rd quarter. Saturna Capital Corp now owns 1,334,860 shares of the company’s stock worth $30,875,000 after buying an additional 307,039 shares during the last quarter. Finally, Everence Capital Management Inc. grew its position in shares of Kenvue by 122.1% in the 4th quarter. Everence Capital Management Inc. now owns 45,380 shares of the company’s stock worth $969,000 after acquiring an additional 24,950 shares in the last quarter. Institutional investors and hedge funds own 97.64% of the company’s stock.

Analyst Ratings Changes

KVUE has been the topic of several research reports. Jefferies Financial Group initiated coverage on Kenvue in a research report on Tuesday, September 24th. They set a “buy” rating and a $27.00 price target on the stock. JPMorgan Chase & Co. raised their price target on shares of Kenvue from $24.00 to $25.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. Royal Bank of Canada raised shares of Kenvue from a “hold” rating to a “moderate buy” rating in a research report on Monday, December 9th. Bank of America raised their target price on shares of Kenvue from $24.00 to $27.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Finally, Deutsche Bank Aktiengesellschaft lowered Kenvue from a “buy” rating to a “hold” rating and lowered their target price for the company from $25.00 to $24.00 in a report on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $23.09.

Kenvue Stock Performance

KVUE opened at $20.80 on Friday. The business has a 50 day moving average price of $22.62 and a two-hundred day moving average price of $21.57. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.00 and a quick ratio of 0.69. The company has a market capitalization of $39.88 billion, a price-to-earnings ratio of 37.82, a price-to-earnings-growth ratio of 2.02 and a beta of 1.46. Kenvue Inc. has a 1-year low of $17.67 and a 1-year high of $24.46.

Kenvue (NYSE:KVUE) last issued its quarterly earnings results on Thursday, November 7th. The company reported $0.28 EPS for the quarter, topping the consensus estimate of $0.27 by $0.01. The firm had revenue of $3.90 billion for the quarter, compared to analysts’ expectations of $3.92 billion. Kenvue had a net margin of 6.88% and a return on equity of 21.43%. Kenvue’s revenue for the quarter was down .4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.31 earnings per share. Research analysts predict that Kenvue Inc. will post 1.07 EPS for the current fiscal year.

Kenvue Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th were given a $0.205 dividend. The ex-dividend date of this dividend was Wednesday, November 13th. This represents a $0.82 annualized dividend and a yield of 3.94%. Kenvue’s dividend payout ratio (DPR) is 149.09%.

Kenvue Company 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.