Exchange Traded Concepts LLC Buys 23,551 Shares of Kenvue Inc. (NYSE:KVUE)

Exchange Traded Concepts LLC grew its stake in Kenvue Inc. (NYSE:KVUE) by 371.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,887 shares of the company’s stock after acquiring an additional 23,551 shares during the period. Exchange Traded Concepts LLC’s holdings in Kenvue were worth $691,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Massmutual Trust Co. FSB ADV boosted its stake in shares of Kenvue by 6.2% during the third quarter. Massmutual Trust Co. FSB ADV now owns 8,400 shares of the company’s stock valued at $194,000 after purchasing an additional 492 shares in the last quarter. Marathon Capital Management boosted its stake in shares of Kenvue by 0.3% during the second quarter. Marathon Capital Management now owns 149,699 shares of the company’s stock valued at $2,722,000 after purchasing an additional 514 shares in the last quarter. Manchester Capital Management LLC boosted its stake in shares of Kenvue by 80.8% during the first 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 in the last quarter. Poehling Capital Management INC. boosted its stake in shares of Kenvue by 0.5% during the second quarter. Poehling Capital Management INC. now owns 104,934 shares of the company’s stock valued at $1,908,000 after purchasing an additional 547 shares in the last quarter. Finally, Pathway Financial Advisers LLC boosted its stake in shares of Kenvue by 12.0% during the second quarter. Pathway Financial Advisers LLC now owns 5,131 shares of the company’s stock valued at $93,000 after purchasing an additional 549 shares in the last quarter. 97.64% of the stock is currently owned by institutional investors.

Kenvue Trading Up 1.3 %

NYSE KVUE opened at $21.72 on Friday. The company has a fifty day simple moving average of $22.26 and a two-hundred day simple moving average of $20.21. The stock has a market cap of $41.59 billion, a P/E ratio of 27.85, a P/E/G ratio of 2.76 and a beta of 1.40. Kenvue Inc. has a 12-month low of $17.67 and a 12-month high of $23.55. The company has a current ratio of 0.99, a quick ratio of 0.68 and a debt-to-equity ratio of 0.69.

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

Kenvue Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th will be issued a $0.205 dividend. The ex-dividend date is Wednesday, November 13th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 3.78%. Kenvue’s dividend payout ratio is currently 105.13%.

Wall Street Analysts Forecast Growth

KVUE has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Kenvue from $23.00 to $24.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. Jefferies Financial Group began coverage on shares of Kenvue in a research report on Tuesday, September 24th. They set a “buy” rating and a $27.00 target price for the company. UBS Group increased their target price on shares of Kenvue from $20.00 to $22.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Royal Bank of Canada cut shares of Kenvue from an “outperform” rating to a “sector perform” rating and set a $24.00 target price for the company. in a research report on Tuesday, September 24th. Finally, Piper Sandler increased their target price on shares of Kenvue from $20.00 to $21.00 and gave the company a “neutral” rating in a research report on Monday, September 23rd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $22.20.

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.