Royal Capital Wealth Management LLC Lowers Stock Position in Kenvue Inc. (NYSE:KVUE)

Royal Capital Wealth Management LLC trimmed its holdings in Kenvue Inc. (NYSE:KVUE) by 3.3% during the second quarter, HoldingsChannel.com reports. The fund owned 28,716 shares of the company’s stock after selling 982 shares during the period. Royal Capital Wealth Management LLC’s holdings in Kenvue were worth $522,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. Stephens Inc. AR raised its holdings in shares of Kenvue by 86.1% in the fourth quarter. Stephens Inc. AR now owns 57,694 shares of the company’s stock valued at $1,242,000 after buying an additional 26,700 shares during the last quarter. Stifel Financial Corp lifted its position in Kenvue by 60.4% during the 4th quarter. Stifel Financial Corp now owns 745,064 shares of the company’s stock worth $16,041,000 after acquiring an additional 280,591 shares during the period. Raleigh Capital Management Inc. grew its stake in shares of Kenvue by 93,834.8% in the 4th quarter. Raleigh Capital Management Inc. now owns 43,210 shares of the company’s stock valued at $930,000 after purchasing an additional 43,164 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Kenvue by 2.6% in the fourth quarter. The Manufacturers Life Insurance Company now owns 1,598,567 shares of the company’s stock valued at $34,417,000 after purchasing an additional 40,995 shares during the period. Finally, Cornerstone Wealth Group LLC raised its stake in shares of Kenvue by 176.2% during the first quarter. Cornerstone Wealth Group LLC now owns 350,371 shares of the company’s stock worth $7,519,000 after purchasing an additional 223,537 shares during the last quarter. Institutional investors and hedge funds own 97.64% of the company’s stock.

Kenvue Price Performance

Shares of NYSE:KVUE opened at $23.11 on Wednesday. The firm has a market capitalization of $44.26 billion, a price-to-earnings ratio of 29.63, a price-to-earnings-growth ratio of 2.92 and a beta of 1.40. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.99 and a quick ratio of 0.68. The business’s 50 day simple moving average is $21.12 and its 200-day simple moving average is $20.01. Kenvue Inc. has a 12 month low of $17.67 and a 12 month high of $23.55.

Kenvue (NYSE:KVUE) last posted 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. Kenvue had a return on equity of 21.80% and a net margin of 7.23%. The company had revenue of $4 billion for the quarter, compared to the consensus estimate of $3.93 billion. During the same period in the previous year, the business earned $0.32 earnings per share. Kenvue’s quarterly revenue was down .3% compared to the same quarter last year. As a group, equities analysts forecast 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. Investors of record on Wednesday, August 14th were paid a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a yield of 3.55%. This is a boost from Kenvue’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Wednesday, August 14th. Kenvue’s dividend payout ratio is presently 105.13%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on KVUE shares. Jefferies Financial Group started coverage on shares of Kenvue in a research report on Tuesday. They issued a “buy” rating and a $27.00 price objective on the stock. UBS Group boosted their price target 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. Piper Sandler increased their price target on shares of Kenvue from $20.00 to $21.00 and gave the stock a “neutral” rating in a report on Monday. Deutsche Bank Aktiengesellschaft lifted their price objective on Kenvue from $23.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. Finally, Royal Bank of Canada downgraded Kenvue from an “outperform” rating to a “sector perform” rating and set a $24.00 target price for the company. in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Kenvue has an average rating of “Hold” and an average target price 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.