Parallel Advisors LLC Buys 5,558 Shares of Kenvue Inc. (NYSE:KVUE)

Parallel Advisors LLC boosted its stake in shares of Kenvue Inc. (NYSE:KVUE) by 27.3% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 25,936 shares of the company’s stock after acquiring an additional 5,558 shares during the quarter. Parallel Advisors LLC’s holdings in Kenvue were worth $472,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Manchester Capital Management LLC boosted its stake in shares of 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 purchasing an additional 530 shares during the last quarter. Mather Group LLC. bought a new position in shares of Kenvue in the 1st quarter valued at about $28,000. Riverview Trust Co bought a new position in shares of Kenvue in the 1st quarter valued at about $33,000. MV Capital Management Inc. boosted its stake 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 purchasing an additional 642 shares during the last quarter. Finally, Salomon & Ludwin LLC bought a new position in shares of Kenvue in the 1st quarter valued at about $33,000. Institutional investors own 97.64% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on KVUE shares. Citigroup reduced their price objective on shares of Kenvue from $21.00 to $20.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. JPMorgan Chase & Co. lifted their price objective on shares of Kenvue from $22.00 to $24.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 7th. Royal Bank of Canada reissued an “outperform” rating and set a $24.00 price objective on shares of Kenvue in a research note on Wednesday, August 7th. UBS Group lifted their price objective on shares of Kenvue from $20.00 to $22.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of Kenvue from $23.00 to $24.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $21.44.

Kenvue Stock Performance

Shares of KVUE stock opened at $23.39 on Wednesday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.68 and a current ratio of 0.99. Kenvue Inc. has a 52 week low of $17.67 and a 52 week high of $23.55. The company has a market capitalization of $44.79 billion, a P/E ratio of 29.99, a price-to-earnings-growth ratio of 2.92 and a beta of 1.40. The company’s 50 day moving average price is $20.62 and its two-hundred day moving average price is $19.88.

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

Kenvue Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 28th. Stockholders of record on Wednesday, August 14th were issued a $0.205 dividend. The ex-dividend date of this dividend was Wednesday, August 14th. This is an increase from Kenvue’s previous quarterly dividend of $0.20. This represents a $0.82 dividend on an annualized basis and a dividend yield of 3.51%. Kenvue’s dividend payout ratio (DPR) is 105.13%.

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.