Benjamin Edwards Inc. Invests $1.32 Million in Kenvue Inc. (NYSE:KVUE)

Benjamin Edwards Inc. acquired a new stake in shares of Kenvue Inc. (NYSE:KVUE - Free Report) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 57,211 shares of the company's stock, valued at approximately $1,323,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Van ECK Associates Corp lifted its position in shares of Kenvue by 110.9% during the second quarter. Van ECK Associates Corp now owns 20,510,427 shares of the company's stock valued at $372,880,000 after purchasing an additional 10,783,258 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Kenvue by 21.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 43,444,085 shares of the company's stock valued at $789,813,000 after buying an additional 7,546,362 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Kenvue by 8.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 86,979,341 shares of the company's stock worth $2,011,832,000 after buying an additional 7,115,374 shares in the last quarter. American Century Companies Inc. boosted its stake in shares of Kenvue by 20.7% in the 2nd quarter. American Century Companies Inc. now owns 27,382,644 shares of the company's stock worth $497,816,000 after buying an additional 4,700,697 shares during the last quarter. Finally, M&G PLC grew its holdings in shares of Kenvue by 538.0% in the third quarter. M&G PLC now owns 4,341,172 shares of the company's stock valued at $99,847,000 after acquiring an additional 3,660,730 shares in the last quarter. 97.64% of the stock is owned by institutional investors.

Kenvue Price Performance

NYSE KVUE traded down $0.30 during trading on Friday, reaching $22.83. The company's stock had a trading volume of 9,708,660 shares, compared to its average volume of 17,761,582. Kenvue Inc. has a one year low of $17.67 and a one year 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 stock has a market capitalization of $43.77 billion, a PE ratio of 42.08, a P/E/G ratio of 2.13 and a beta of 1.36. The firm has a fifty day moving average of $22.97 and a 200 day moving average of $21.07.

Kenvue (NYSE:KVUE - Get Free Report) last announced its 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. Kenvue had a net margin of 6.88% and a return on equity of 21.43%. The company had revenue of $3.90 billion during the quarter, compared to analyst estimates of $3.92 billion. During the same period in the previous year, the business earned $0.31 earnings per share. The firm's quarterly revenue was down .4% compared to the same quarter last year. Analysts expect that Kenvue Inc. will post 1.07 EPS for the current fiscal year.

Kenvue Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th were given a $0.205 dividend. The ex-dividend date was Wednesday, November 13th. This represents a $0.82 annualized dividend and a yield of 3.59%. Kenvue's payout ratio is currently 149.09%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on KVUE shares. Bank of America lifted their target price on Kenvue from $24.00 to $27.00 and gave the stock a "buy" rating in a research note on Tuesday, October 22nd. Jefferies Financial Group assumed coverage on Kenvue in a report on Tuesday, September 24th. They set a "buy" rating and a $27.00 price objective for the company. JPMorgan Chase & Co. raised their target price on Kenvue from $24.00 to $25.00 and gave the stock an "overweight" rating in a research report on Friday, October 11th. Piper Sandler upped their price target on Kenvue from $20.00 to $21.00 and gave the company a "neutral" rating in a research report on Monday, September 23rd. Finally, Royal Bank of Canada lowered shares of Kenvue from an "outperform" rating to a "sector perform" rating and set a $24.00 price target on the stock. in a research report on Tuesday, September 24th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $22.64.

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.