Kenvue Inc. (NYSE:KVUE) Shares Acquired by Parsons Capital Management Inc. RI

Parsons Capital Management Inc. RI boosted its stake in Kenvue Inc. (NYSE:KVUE) by 13.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 124,830 shares of the company’s stock after acquiring an additional 14,718 shares during the quarter. Parsons Capital Management Inc. RI’s holdings in Kenvue were worth $2,688,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Clearstead Advisors LLC purchased a new position in Kenvue in the 3rd quarter valued at $25,000. Planned Solutions Inc. purchased a new position in Kenvue in the 4th quarter valued at $27,000. EverSource Wealth Advisors LLC purchased a new position in shares of Kenvue during the 3rd quarter worth $28,000. AdvisorNet Financial Inc purchased a new position in shares of Kenvue during the 3rd quarter worth $28,000. Finally, Global Retirement Partners LLC purchased a new position in shares of Kenvue during the 3rd quarter worth $28,000. Institutional investors and hedge funds own 97.64% of the company’s stock.

Kenvue Price Performance

KVUE stock traded down $0.20 on Tuesday, reaching $21.03. 2,199,039 shares of the company’s stock were exchanged, compared to its average volume of 17,137,592. The stock has a fifty day moving average of $20.04 and a 200-day moving average of $20.23. Kenvue Inc. has a twelve month low of $17.82 and a twelve month high of $27.80. The firm has a market cap of $40.26 billion and a PE ratio of 16.98. The company has a quick ratio of 0.78, a current ratio of 1.12 and a debt-to-equity ratio of 0.69.

Kenvue (NYSE:KVUE) last posted its earnings results on Thursday, February 8th. The company reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.03. The company had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.78 billion. Kenvue had a return on equity of 15.62% and a net margin of 9.87%. The business’s revenue for the quarter was down 2.7% compared to the same quarter last year. As a group, equities analysts predict that Kenvue Inc. will post 1.17 EPS for the current fiscal year.

Kenvue Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 28th. Stockholders of record on Wednesday, February 14th were issued a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, February 13th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.80%. Kenvue’s dividend payout ratio (DPR) is 64.00%.

Wall Street Analyst Weigh In

Several research firms have recently commented on KVUE. The Goldman Sachs Group started coverage on Kenvue in a report on Friday, March 1st. They set a “neutral” rating and a $20.00 price target on the stock. Royal Bank of Canada reduced their price objective on shares of Kenvue from $25.00 to $24.00 and set an “outperform” rating on the stock in a report on Friday, February 9th. UBS Group boosted their price objective on shares of Kenvue from $20.00 to $23.00 and gave the company a “neutral” rating in a report on Tuesday, December 19th. Finally, JPMorgan Chase & Co. dropped their target price on Kenvue from $25.00 to $24.00 and set an “overweight” rating for the company in a research report on Friday, February 9th. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Kenvue has a consensus rating of “Moderate Buy” and an average price target of $25.42.

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.