Daymark Wealth Partners LLC Takes $401,000 Position in Kenvue Inc. (NYSE:KVUE)

Daymark Wealth Partners LLC purchased a new position in shares of Kenvue Inc. (NYSE:KVUE) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 22,055 shares of the company’s stock, valued at approximately $401,000.

A number of other institutional investors and hedge funds have also bought and sold shares of KVUE. Vanguard Group Inc. increased its stake in Kenvue by 12.0% in the 1st quarter. Vanguard Group Inc. now owns 166,789,085 shares of the company’s stock valued at $3,579,294,000 after buying an additional 17,908,497 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Kenvue by 23.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 134,565,333 shares of the company’s stock valued at $2,887,773,000 after acquiring an additional 25,238,112 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in Kenvue by 9.6% during the second quarter. Massachusetts Financial Services Co. MA now owns 79,863,967 shares of the company’s stock worth $1,451,927,000 after acquiring an additional 7,023,047 shares during the period. Wellington Management Group LLP lifted its holdings in Kenvue by 6.7% during the fourth quarter. Wellington Management Group LLP now owns 76,501,956 shares of the company’s stock worth $1,647,087,000 after acquiring an additional 4,815,126 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in Kenvue by 11.1% in the first quarter. JPMorgan Chase & Co. now owns 68,319,998 shares of the company’s stock worth $1,466,147,000 after purchasing an additional 6,825,611 shares during the last quarter. 97.64% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on KVUE shares. Royal Bank of Canada cut Kenvue from an “outperform” rating to a “sector perform” rating and set a $24.00 target price on the stock. in a research note on Tuesday, September 24th. JPMorgan Chase & Co. boosted their target price on shares of Kenvue from $22.00 to $24.00 and gave the company an “overweight” rating in a research note on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Kenvue from $23.00 to $24.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. UBS Group upped their price target on Kenvue from $20.00 to $22.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Finally, Citigroup reduced their target price on shares of Kenvue from $21.00 to $20.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Kenvue presently has an average rating of “Hold” and an average price target of $22.10.

Kenvue Trading Up 0.6 %

KVUE stock opened at $23.26 on Friday. 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 company has a market capitalization of $44.54 billion, a PE ratio of 29.82, a price-to-earnings-growth ratio of 2.92 and a beta of 1.40. The company’s 50 day moving average price is $21.41 and its two-hundred day moving average price is $20.07. Kenvue Inc. has a one year low of $17.67 and a one year high of $23.55.

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

Kenvue Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 28th. Investors of record on Wednesday, August 14th were given a dividend of $0.205 per share. The ex-dividend date was Wednesday, August 14th. This represents a $0.82 annualized dividend and a dividend yield of 3.53%. This is an increase from Kenvue’s previous quarterly dividend of $0.20. Kenvue’s dividend payout ratio (DPR) is 105.13%.

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.