Principle Wealth Partners LLC Acquires New Stake in Kenvue Inc. (NYSE:KVUE)

Principle Wealth Partners LLC bought a new position in Kenvue Inc. (NYSE:KVUE) during the 4th quarter, Holdings Channel reports. The institutional investor bought 9,397 shares of the company’s stock, valued at approximately $202,000.

Other institutional investors have also recently modified their holdings of the company. Clearstead Advisors LLC purchased a new stake in shares of Kenvue during the third quarter valued at approximately $25,000. Planned Solutions Inc. bought a new stake in shares of Kenvue in the 4th quarter worth $27,000. EverSource Wealth Advisors LLC purchased a new position in shares of Kenvue in the third quarter worth $28,000. Venturi Wealth Management LLC bought a new position in shares of Kenvue during the third quarter valued at $28,000. Finally, Cullen Frost Bankers Inc. purchased a new stake in shares of Kenvue during the third quarter valued at $29,000. 97.64% of the stock is owned by hedge funds and other institutional investors.

Kenvue Trading Up 1.1 %

Shares of KVUE opened at $19.06 on Tuesday. The business has a 50-day simple moving average of $19.84 and a two-hundred day simple moving average of $20.14. Kenvue Inc. has a 52 week low of $17.82 and a 52 week high of $27.80. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.78 and a current ratio of 1.12.

Kenvue (NYSE:KVUE) last posted its quarterly earnings results on Thursday, February 8th. The company reported $0.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.03. Kenvue had a net margin of 9.87% and a return on equity of 15.62%. The business had revenue of $3.67 billion during the quarter, compared to analyst estimates of $3.78 billion. Kenvue’s revenue was down 2.7% on a year-over-year basis. As a group, analysts predict that Kenvue Inc. will post 1.15 earnings per share for the current year.

Kenvue Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Wednesday, May 8th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, May 7th. This represents a $0.80 dividend on an annualized basis and a yield of 4.20%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on KVUE shares. Sanford C. Bernstein initiated coverage on Kenvue in a research report on Thursday, April 11th. They issued an “underperform” rating and a $18.00 target price for the company. JPMorgan Chase & Co. lowered their price objective on shares of Kenvue from $25.00 to $24.00 and set an “overweight” rating on the stock in a research report on Friday, February 9th. Royal Bank of Canada cut their target price on shares of Kenvue from $25.00 to $24.00 and set an “outperform” rating for the company in a research report on Friday, February 9th. William Blair assumed coverage on Kenvue in a report on Wednesday, April 3rd. They set a “market perform” rating on the stock. Finally, The Goldman Sachs Group began coverage on Kenvue in a research report on Friday, March 1st. They set a “neutral” rating and a $20.00 price objective for the company. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Kenvue currently has an average rating of “Hold” and an average price target of $24.85.

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.