Golden State Equity Partners Buys 3,004 Shares of Kenvue Inc. (NYSE:KVUE)

Golden State Equity Partners raised its stake in Kenvue Inc. (NYSE:KVUE) by 12.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 27,262 shares of the company’s stock after buying an additional 3,004 shares during the period. Golden State Equity Partners’ holdings in Kenvue were worth $587,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Truist Financial Corp grew its holdings in shares of Kenvue by 55.4% during the 4th quarter. Truist Financial Corp now owns 833,310 shares of the company’s stock valued at $17,941,000 after purchasing an additional 297,178 shares during the last quarter. Bahl & Gaynor Inc. boosted its position in Kenvue by 4.8% during the 4th quarter. Bahl & Gaynor Inc. now owns 262,992 shares of the company’s stock valued at $5,662,000 after buying an additional 12,082 shares during the period. Jackson Hole Capital Partners LLC purchased a new stake in Kenvue during the 4th quarter valued at $481,000. State of New Jersey Common Pension Fund D boosted its position in Kenvue by 10.7% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 966,624 shares of the company’s stock valued at $20,811,000 after buying an additional 93,478 shares during the period. Finally, Syon Capital LLC boosted its position in Kenvue by 78.4% during the 4th quarter. Syon Capital LLC now owns 29,276 shares of the company’s stock valued at $630,000 after buying an additional 12,865 shares during the period. Institutional investors own 97.64% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Kenvue Stock Down 0.8 %

Shares of KVUE traded down $0.16 on Friday, reaching $18.86. The company’s stock had a trading volume of 15,454,689 shares, compared to its average volume of 13,458,618. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.78 and a current ratio of 1.12. The stock’s 50 day simple moving average is $19.84 and its two-hundred day simple moving average is $20.13. Kenvue Inc. has a 12-month low of $17.82 and a 12-month high of $27.80.

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, equities research analysts anticipate that Kenvue Inc. will post 1.15 earnings per share for the current year.

Kenvue Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors of record on Wednesday, May 8th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 4.24%. The ex-dividend date of this dividend is Tuesday, May 7th.

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.