Wealth Enhancement Advisory Services LLC Sells 963 Shares of Kenvue Inc. (NYSE:KVUE)

Wealth Enhancement Advisory Services LLC decreased its holdings in Kenvue Inc. (NYSE:KVUE) by 0.2% in the first quarter, HoldingsChannel.com reports. The fund owned 479,677 shares of the company’s stock after selling 963 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Kenvue were worth $10,294,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Stephens Inc. AR boosted its position in shares of Kenvue by 86.1% during the 4th quarter. Stephens Inc. AR now owns 57,694 shares of the company’s stock valued at $1,242,000 after acquiring an additional 26,700 shares during the last quarter. Stifel Financial Corp boosted its stake in shares of Kenvue by 60.4% during the fourth quarter. Stifel Financial Corp now owns 745,064 shares of the company’s stock valued at $16,041,000 after purchasing an additional 280,591 shares in the last quarter. Raleigh Capital Management Inc. boosted its position in Kenvue by 93,834.8% during the 4th quarter. Raleigh Capital Management Inc. now owns 43,210 shares of the company’s stock valued at $930,000 after acquiring an additional 43,164 shares in the last quarter. Fifth Third Bancorp boosted its position in Kenvue by 35.3% during the fourth quarter. Fifth Third Bancorp now owns 277,580 shares of the company’s stock valued at $5,976,000 after purchasing an additional 72,435 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its position 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 during the last quarter. 97.64% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

KVUE has been the subject of a number of research analyst reports. Citigroup restated a “neutral” rating and issued a $21.00 target price on shares of Kenvue in a research note on Tuesday, May 28th. HSBC lifted their price target on Kenvue from $20.00 to $21.00 and gave the stock a “hold” rating in a research note on Wednesday, May 8th. William Blair started coverage on Kenvue in a research report on Wednesday, April 3rd. They issued a “market perform” rating for the company. Finally, Sanford C. Bernstein assumed coverage on shares of Kenvue in a research report on Thursday, April 11th. They set an “underperform” rating and a $18.00 price target on the stock. One analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $23.09.

Kenvue Stock Down 1.3 %

Shares of NYSE KVUE opened at $18.18 on Friday. The business’s fifty day simple moving average is $19.19 and its 200-day simple moving average is $19.98. The company has a current ratio of 0.99, a quick ratio of 0.68 and a debt-to-equity ratio of 0.66. Kenvue Inc. has a 12-month low of $17.75 and a 12-month high of $26.66. The stock has a market cap of $34.81 billion and a P/E ratio of 23.31.

Kenvue (NYSE:KVUE) last announced its quarterly earnings data on Tuesday, May 7th. The company reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.03. Kenvue had a net margin of 9.63% and a return on equity of 21.06%. The company had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $3.79 billion. Kenvue’s quarterly revenue was down 24.9% on a year-over-year basis. As a group, equities analysts predict that Kenvue Inc. will post 1.17 EPS for the current fiscal year.

Kenvue Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 22nd. Shareholders of record on Wednesday, May 8th were paid a $0.20 dividend. The ex-dividend date was Tuesday, May 7th. This represents a $0.80 annualized dividend and a yield of 4.40%. Kenvue’s dividend payout ratio is currently 102.56%.

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.