Providence Capital Advisors LLC Purchases New Position in Kenvue Inc. (NYSE:KVUE)

Providence Capital Advisors LLC purchased a new stake in shares of Kenvue Inc. (NYSE:KVUE - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 119,744 shares of the company's stock, valued at approximately $2,557,000.

Several other large investors have also recently bought and sold shares of KVUE. Grove Bank & Trust boosted its stake in shares of Kenvue by 438.4% during the 4th quarter. Grove Bank & Trust now owns 1,163 shares of the company's stock valued at $25,000 after buying an additional 947 shares during the period. Geneos Wealth Management Inc. acquired a new stake in Kenvue during the fourth quarter valued at $29,000. SRS Capital Advisors Inc. boosted its position in Kenvue by 67.4% during the fourth quarter. SRS Capital Advisors Inc. now owns 1,418 shares of the company's stock valued at $30,000 after purchasing an additional 571 shares during the last quarter. Fortitude Family Office LLC grew its stake in Kenvue by 106.6% in the fourth quarter. Fortitude Family Office LLC now owns 1,506 shares of the company's stock valued at $32,000 after purchasing an additional 777 shares in the last quarter. Finally, Versant Capital Management Inc increased its position in Kenvue by 300.8% in the 4th quarter. Versant Capital Management Inc now owns 1,920 shares of the company's stock worth $41,000 after purchasing an additional 1,441 shares during the last quarter. 97.64% of the stock is owned by institutional investors and hedge funds.

Kenvue Stock Performance

Kenvue stock traded down $0.15 during mid-day trading on Tuesday, reaching $23.84. The company had a trading volume of 2,281,844 shares, compared to its average volume of 14,750,899. The company has a quick ratio of 0.69, a current ratio of 1.00 and a debt-to-equity ratio of 0.66. The firm has a market cap of $45.55 billion, a price-to-earnings ratio of 45.01, a PEG ratio of 2.62 and a beta of 1.25. The company has a 50 day moving average of $22.38 and a 200-day moving average of $22.46. Kenvue Inc. has a 52 week low of $17.67 and a 52 week high of $24.46.

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Kenvue (NYSE:KVUE - Get Free Report) last released its earnings results on Thursday, February 6th. The company reported $0.26 earnings per share for the quarter, meeting the consensus estimate of $0.26. Kenvue had a net margin of 6.66% and a return on equity of 20.97%. On average, sell-side analysts expect that Kenvue Inc. will post 1.14 EPS for the current fiscal year.

Kenvue Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th were given a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a dividend yield of 3.44%. The ex-dividend date of this dividend was Wednesday, February 12th. Kenvue's dividend payout ratio is presently 154.72%.

Analyst Ratings Changes

Several equities research analysts recently commented on KVUE shares. Royal Bank of Canada reissued a "sector perform" rating and issued a $24.00 price target on shares of Kenvue in a research note on Monday, February 3rd. Canaccord Genuity Group boosted their target price on shares of Kenvue from $24.00 to $29.00 and gave the stock a "buy" rating in a research report on Wednesday, March 5th. Barclays raised their price target on shares of Kenvue from $21.00 to $23.00 and gave the company an "equal weight" rating in a report on Thursday, March 27th. Citigroup decreased their price objective on shares of Kenvue from $25.00 to $21.00 and set a "neutral" rating for the company in a report on Wednesday, January 15th. Finally, Evercore ISI initiated coverage on Kenvue in a report on Monday, March 24th. They set an "in-line" rating and a $25.00 target price on the stock. One analyst has rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $24.00.

About Kenvue

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.