Wahed Invest LLC Buys New Shares in Kenvue Inc. (NYSE:KVUE)

Wahed Invest LLC bought a new stake in Kenvue Inc. (NYSE:KVUE - Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 46,501 shares of the company's stock, valued at approximately $1,076,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Riverview Trust Co bought a new position in shares of Kenvue in the third quarter valued at about $30,000. Ashton Thomas Securities LLC acquired a new position in shares of Kenvue in the third quarter valued at approximately $35,000. Studio Investment Management LLC increased its stake in shares of Kenvue by 52.1% during the second quarter. Studio Investment Management LLC now owns 2,468 shares of the company's stock worth $45,000 after purchasing an additional 845 shares during the period. Deseret Mutual Benefit Administrators lifted its holdings in Kenvue by 49.7% during the 3rd quarter. Deseret Mutual Benefit Administrators now owns 1,960 shares of the company's stock worth $45,000 after purchasing an additional 651 shares during the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new stake in Kenvue in the 2nd quarter valued at $61,000. 97.64% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Kenvue Trading Down 1.3 %

Shares of Kenvue stock traded down $0.29 during trading on Friday, hitting $22.84. The company's stock had a trading volume of 9,595,010 shares, compared to its average volume of 17,761,582. The stock has a market cap of $43.79 billion, a price-to-earnings ratio of 42.08, a price-to-earnings-growth ratio of 2.13 and a beta of 1.36. Kenvue Inc. has a 52 week low of $17.67 and a 52 week high of $24.46. The stock has a 50-day moving average price of $22.97 and a two-hundred day moving average price of $21.07. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.00 and a quick ratio of 0.69.

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

Kenvue Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th were paid a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a yield of 3.59%. The ex-dividend date was Wednesday, November 13th. Kenvue's dividend payout ratio is presently 149.09%.

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.