Independent Advisor Alliance Buys 4,960 Shares of Kenvue Inc. (NYSE:KVUE)

Independent Advisor Alliance boosted its stake in shares of Kenvue Inc. (NYSE:KVUE) by 10.8% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 51,003 shares of the company’s stock after purchasing an additional 4,960 shares during the quarter. Independent Advisor Alliance’s holdings in Kenvue were worth $1,180,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA boosted its stake in Kenvue by 8.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 86,979,341 shares of the company’s stock valued at $2,011,832,000 after purchasing an additional 7,115,374 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Kenvue by 21.0% during the second quarter. Bank of New York Mellon Corp now owns 43,444,085 shares of the company’s stock worth $789,813,000 after buying an additional 7,546,362 shares during the last quarter. American Century Companies Inc. boosted its position in shares of Kenvue by 20.7% in the second quarter. American Century Companies Inc. now owns 27,382,644 shares of the company’s stock valued at $497,816,000 after acquiring an additional 4,700,697 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Kenvue by 2.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 24,411,207 shares of the company’s stock worth $564,689,000 after acquiring an additional 547,874 shares during the last quarter. Finally, Van ECK Associates Corp grew its stake in shares of Kenvue by 110.9% in the second quarter. Van ECK Associates Corp now owns 20,510,427 shares of the company’s stock worth $372,880,000 after acquiring an additional 10,783,258 shares during the last quarter. Institutional investors and hedge funds own 97.64% of the company’s stock.

Kenvue Stock Performance

Kenvue stock opened at $24.12 on Wednesday. Kenvue Inc. has a 52-week low of $17.67 and a 52-week 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 fifty day moving average price of $22.87 and a two-hundred day moving average price of $20.92. The firm has a market capitalization of $46.24 billion, a P/E ratio of 43.85, a P/E/G ratio of 2.19 and a beta of 1.36.

Kenvue (NYSE:KVUE) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.01. The firm had revenue of $3.90 billion during the quarter, compared to the consensus estimate of $3.92 billion. Kenvue had a net margin of 6.88% and a return on equity of 21.43%. The firm’s quarterly revenue was down .4% on a year-over-year basis. During the same period last year, the firm posted $0.31 EPS. As a group, analysts anticipate that Kenvue Inc. will post 1.07 EPS for the current fiscal year.

Kenvue Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th will be given a dividend of $0.205 per share. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $0.82 dividend on an annualized basis and a yield of 3.40%. Kenvue’s dividend payout ratio (DPR) is presently 149.09%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft increased their price target on shares of Kenvue from $23.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. JPMorgan Chase & Co. boosted their price target on Kenvue from $24.00 to $25.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. Jefferies Financial Group began coverage on Kenvue in a report on Tuesday, September 24th. They issued a “buy” rating and a $27.00 price target for the company. Bank of America lifted their price objective on Kenvue from $24.00 to $27.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Finally, Royal Bank of Canada lowered 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. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $22.64.

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.