Bridges Investment Management Inc. Makes New Investment in Kenvue Inc. (NYSE:KVUE)

Bridges Investment Management Inc. bought a new position in Kenvue Inc. (NYSE:KVUE) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 32,944 shares of the company’s stock, valued at approximately $599,000.

Other hedge funds have also modified their holdings of the company. Stephens Inc. AR raised its holdings in shares of Kenvue by 86.1% in the 4th quarter. Stephens Inc. AR now owns 57,694 shares of the company’s stock worth $1,242,000 after buying an additional 26,700 shares in the last quarter. Stifel Financial Corp raised its holdings in shares of Kenvue by 60.4% in the 4th quarter. Stifel Financial Corp now owns 745,064 shares of the company’s stock worth $16,041,000 after buying an additional 280,591 shares in the last quarter. Raleigh Capital Management Inc. raised its holdings 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 worth $930,000 after buying an additional 43,164 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Kenvue by 2.6% in the 4th quarter. The Manufacturers Life Insurance Company now owns 1,598,567 shares of the company’s stock worth $34,417,000 after buying an additional 40,995 shares in the last quarter. Finally, Cornerstone Wealth Group LLC raised its holdings in shares of Kenvue by 176.2% in the 1st quarter. Cornerstone Wealth Group LLC now owns 350,371 shares of the company’s stock worth $7,519,000 after buying an additional 223,537 shares in the last quarter. 97.64% of the stock is owned by institutional investors and hedge funds.

Kenvue Stock Up 0.5 %

Shares of KVUE opened at $23.02 on Friday. The firm has a market capitalization of $44.08 billion, a price-to-earnings ratio of 29.51, a PEG ratio of 2.92 and a beta of 1.40. 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 business’s fifty day moving average price is $20.92 and its two-hundred day moving average price is $19.96. Kenvue Inc. has a 52 week low of $17.67 and a 52 week high of $23.55.

Kenvue (NYSE:KVUE) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.32 EPS for the quarter, beating 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 firm had revenue of $4 billion for the quarter, compared to analyst estimates of $3.93 billion. During the same period last year, the company earned $0.32 EPS. The business’s quarterly revenue was down .3% compared to the same quarter last year. On average, analysts predict that Kenvue Inc. will post 1.08 earnings per share for the current year.

Kenvue Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 28th. Stockholders of record on Wednesday, August 14th were given a $0.205 dividend. This is a positive change from Kenvue’s previous quarterly dividend of $0.20. This represents a $0.82 annualized dividend and a dividend yield of 3.56%. The ex-dividend date was Wednesday, August 14th. Kenvue’s dividend payout ratio (DPR) is currently 105.13%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on KVUE. UBS Group increased their target price on Kenvue from $20.00 to $22.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $24.00 price target on shares of Kenvue in a report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft raised their price target on Kenvue from $23.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. JPMorgan Chase & Co. raised their price target on Kenvue from $22.00 to $24.00 and gave the company an “overweight” rating in a report on Wednesday, August 7th. Finally, Citigroup dropped their price target on Kenvue from $21.00 to $20.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $21.44.

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.