Assetmark Inc. Raises Holdings in Kenvue Inc. (NYSE:KVUE)

Assetmark Inc. increased its stake in shares of Kenvue Inc. (NYSE:KVUE) by 29.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 67,796 shares of the company’s stock after purchasing an additional 15,593 shares during the period. Assetmark Inc.’s holdings in Kenvue were worth $1,568,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Riverview Trust Co acquired a new position in shares of Kenvue in the third quarter worth $30,000. Deseret Mutual Benefit Administrators boosted its stake in shares of Kenvue by 49.7% during the third quarter. Deseret Mutual Benefit Administrators now owns 1,960 shares of the company’s stock valued at $45,000 after acquiring an additional 651 shares during the last quarter. Studio Investment Management LLC increased its position in Kenvue by 52.1% during the 2nd quarter. Studio Investment Management LLC now owns 2,468 shares of the company’s stock worth $45,000 after purchasing an additional 845 shares in the last quarter. AlphaMark Advisors LLC acquired a new position in Kenvue in the 3rd quarter valued at about $77,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new position in Kenvue in the 2nd quarter valued at about $61,000. Hedge funds and other institutional investors own 97.64% of the company’s stock.

Kenvue Price Performance

Shares of Kenvue stock opened at $23.61 on Friday. The business’s fifty day moving average price is $22.73 and its 200 day moving average price is $20.63. Kenvue Inc. has a twelve month low of $17.67 and a twelve month high of $23.95. The company has a current ratio of 1.00, a quick ratio of 0.69 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $45.27 billion, a P/E ratio of 42.62, a PEG ratio of 2.15 and a beta of 1.36.

Kenvue (NYSE:KVUE) last released its quarterly earnings data on Thursday, November 7th. The company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.01. The business had revenue of $3.90 billion for the quarter, compared to analyst estimates of $3.92 billion. Kenvue had a return on equity of 21.43% and a net margin of 6.88%. The company’s revenue was down .4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.31 EPS. As a group, research analysts anticipate that Kenvue Inc. will post 1.07 earnings per share for the current year.

Kenvue Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th will be given a $0.205 dividend. This represents a $0.82 annualized dividend and a dividend yield of 3.47%. The ex-dividend date is Wednesday, November 13th. Kenvue’s payout ratio is currently 149.09%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on KVUE. Bank of America lifted their price target on shares of Kenvue from $24.00 to $27.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft lifted their target price 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 increased their price target on Kenvue from $20.00 to $22.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Royal Bank of Canada downgraded Kenvue from an “outperform” rating to a “sector perform” rating and set a $24.00 price objective for the company. in a research report on Tuesday, September 24th. Finally, JPMorgan Chase & Co. upped their target price on Kenvue from $24.00 to $25.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Kenvue has an average rating of “Hold” and a consensus target price of $22.64.

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.