Millstone Evans Group LLC Makes New Investment in Kenvue Inc. (NYSE:KVUE)

Millstone Evans Group LLC bought a new stake in Kenvue Inc. (NYSE:KVUE - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 26,443 shares of the company's stock, valued at approximately $565,000.

A number of other institutional investors have also made changes to their positions in KVUE. Grove Bank & Trust lifted its holdings in Kenvue by 438.4% during the 4th quarter. Grove Bank & Trust now owns 1,163 shares of the company's stock worth $25,000 after buying an additional 947 shares in the last quarter. Geneos Wealth Management Inc. acquired a new stake in shares of Kenvue in the 4th quarter valued at $29,000. SRS Capital Advisors Inc. raised its position in shares of Kenvue by 67.4% during the fourth quarter. SRS Capital Advisors Inc. now owns 1,418 shares of the company's stock worth $30,000 after acquiring an additional 571 shares during the last quarter. Fortitude Family Office LLC lifted its stake in shares of Kenvue by 106.6% during the fourth quarter. Fortitude Family Office LLC now owns 1,506 shares of the company's stock valued at $32,000 after acquiring an additional 777 shares during the period. Finally, Versant Capital Management Inc boosted its holdings in Kenvue by 300.8% in the fourth quarter. Versant Capital Management Inc now owns 1,920 shares of the company's stock valued at $41,000 after acquiring an additional 1,441 shares during the last quarter. 97.64% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on KVUE. Canaccord Genuity Group boosted their price objective on Kenvue from $24.00 to $29.00 and gave the stock a "buy" rating in a report on Wednesday, March 5th. Royal Bank of Canada reissued a "sector perform" rating and set a $24.00 price target on shares of Kenvue in a research note on Monday, February 3rd. UBS Group reduced their price objective on shares of Kenvue from $23.00 to $21.00 and set a "neutral" rating on the stock in a research note on Friday, February 7th. Deutsche Bank Aktiengesellschaft cut shares of Kenvue from a "buy" rating to a "hold" rating and dropped their target price for the company from $25.00 to $24.00 in a research report on Thursday, December 12th. Finally, Evercore ISI started coverage on Kenvue in a research report on Monday. They issued an "in-line" rating and a $25.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $23.85.

Remove Ads

Kenvue Trading Up 1.3 %

Shares of Kenvue stock traded up $0.30 during trading hours on Wednesday, hitting $23.40. The company's stock had a trading volume of 9,473,416 shares, compared to its average volume of 16,138,418. Kenvue Inc. has a 12 month low of $17.67 and a 12 month high of $24.46. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.00 and a quick ratio of 0.69. The company has a market capitalization of $44.72 billion, a PE ratio of 44.15, a price-to-earnings-growth ratio of 2.62 and a beta of 1.25. The stock has a 50 day moving average of $22.17 and a 200 day moving average of $22.44.

Kenvue (NYSE:KVUE - Get Free Report) last announced its quarterly earnings results on Thursday, February 6th. The company reported $0.26 earnings per share for the quarter, meeting analysts' consensus estimates of $0.26. Kenvue had a net margin of 6.66% and a return on equity of 20.97%. Analysts predict that Kenvue Inc. will post 1.14 earnings per share for the current year.

Kenvue Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th were paid a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a yield of 3.50%. The ex-dividend date of this dividend was Wednesday, February 12th. Kenvue's payout ratio is presently 154.72%.

Kenvue Company 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.