Norden Group LLC Takes Position in Kenvue Inc. (NYSE:KVUE)

Norden Group LLC purchased a new position in Kenvue Inc. (NYSE:KVUE) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 83,510 shares of the company’s stock, valued at approximately $1,792,000.

Several other institutional investors also recently added to or reduced their stakes in the stock. Planned Solutions Inc. purchased a new position in Kenvue in the fourth quarter valued at about $27,000. Pacific Capital Wealth Advisors Inc. bought a new stake in shares of Kenvue in the 4th quarter worth approximately $28,000. Mather Group LLC. purchased a new position in Kenvue in the first quarter valued at approximately $28,000. CVA Family Office LLC bought a new position in Kenvue during the fourth quarter valued at $32,000. Finally, Pinnacle Bancorp Inc. increased its position in Kenvue by 51.3% in the fourth quarter. Pinnacle Bancorp Inc. now owns 1,552 shares of the company’s stock worth $33,000 after buying an additional 526 shares during the last quarter. Institutional investors own 97.64% of the company’s stock.

Kenvue Price Performance

Shares of NYSE KVUE opened at $18.31 on Friday. The stock’s 50-day simple moving average is $19.11 and its two-hundred day simple moving average is $19.90. Kenvue Inc. has a twelve month low of $17.75 and a twelve month high of $26.25. The firm has a market capitalization of $35.06 billion, a P/E ratio of 23.47, a P/E/G ratio of 1.94 and a beta of 1.40. The company has a quick ratio of 0.68, a current ratio of 0.99 and a debt-to-equity ratio of 0.66.

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

Kenvue Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 22nd. Shareholders of record on Wednesday, May 8th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Tuesday, May 7th. This represents a $0.80 dividend on an annualized basis and a yield of 4.37%. Kenvue’s payout ratio is 102.56%.

Analyst Ratings Changes

KVUE has been the subject of several research reports. HSBC increased 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. Sanford C. Bernstein initiated coverage on shares of Kenvue in a research note on Thursday, April 11th. They issued an “underperform” rating and a $18.00 price objective for the company. William Blair initiated coverage on Kenvue in a research report on Wednesday, April 3rd. They set a “market perform” rating on the stock. Finally, Citigroup reiterated a “neutral” rating and issued a $21.00 price target on shares of Kenvue in a research report on Tuesday, May 28th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $23.09.

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.