TrinityPoint Wealth LLC Boosts Stock Position in Kenvue Inc. (NYSE:KVUE)

TrinityPoint Wealth LLC increased its holdings in Kenvue Inc. (NYSE:KVUE) by 1.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 60,490 shares of the company’s stock after purchasing an additional 1,015 shares during the quarter. TrinityPoint Wealth LLC’s holdings in Kenvue were worth $1,399,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Kingsview Wealth Management LLC purchased a new position in shares of Kenvue during the first quarter valued at approximately $253,000. Covestor Ltd purchased a new position in Kenvue during the 1st quarter valued at $109,000. Ameritas Investment Partners Inc. increased its position in Kenvue by 1.7% during the 1st quarter. Ameritas Investment Partners Inc. now owns 136,775 shares of the company’s stock valued at $2,935,000 after purchasing an additional 2,321 shares during the period. O Shaughnessy Asset Management LLC raised its holdings in Kenvue by 34.3% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 30,765 shares of the company’s stock worth $660,000 after purchasing an additional 7,854 shares in the last quarter. Finally, Clearbridge Investments LLC lifted its position in shares of Kenvue by 16,051.1% in the 1st quarter. Clearbridge Investments LLC now owns 9,813,597 shares of the company’s stock worth $210,600,000 after purchasing an additional 9,752,836 shares during the period. Hedge funds and other institutional investors own 97.64% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on KVUE. UBS Group boosted their price target on shares of Kenvue from $20.00 to $22.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Piper Sandler upped their target price on Kenvue from $20.00 to $21.00 and gave the stock a “neutral” rating in a report on Monday, September 23rd. Bank of America raised their target price on Kenvue from $24.00 to $27.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. JPMorgan Chase & Co. lifted their price target on Kenvue from $24.00 to $25.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. Finally, Jefferies Financial Group began coverage on Kenvue in a report on Tuesday, September 24th. They issued a “buy” rating and a $27.00 price objective for the company. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $22.64.

Kenvue Stock Up 0.9 %

Shares of NYSE:KVUE opened at $23.82 on Monday. The company has a current ratio of 1.00, a quick ratio of 0.69 and a debt-to-equity ratio of 0.66. The stock has a fifty day simple moving average of $22.77 and a two-hundred day simple moving average of $20.70. Kenvue Inc. has a 12-month low of $17.67 and a 12-month high of $24.13. The stock has a market capitalization of $45.67 billion, a price-to-earnings ratio of 43.31, a PEG ratio of 2.16 and a beta of 1.36.

Kenvue (NYSE:KVUE) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.01. The firm had revenue of $3.90 billion during the quarter, compared to analyst estimates of $3.92 billion. Kenvue had a return on equity of 21.43% and a net margin of 6.88%. Kenvue’s quarterly revenue was down .4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.31 EPS. On average, research analysts anticipate that Kenvue Inc. will post 1.07 earnings per share for the current fiscal year.

Kenvue Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th will be paid a $0.205 dividend. The ex-dividend date is Wednesday, November 13th. This represents a $0.82 annualized dividend and a dividend yield of 3.44%. Kenvue’s dividend payout ratio is presently 149.09%.

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.