Pullen Investment Management LLC Takes $1.10 Million Position in Kenvue Inc. (NYSE:KVUE)

Pullen Investment Management LLC bought a new position in Kenvue Inc. (NYSE:KVUE) in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 47,657 shares of the company’s stock, valued at approximately $1,102,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in KVUE. Independence Bank of Kentucky increased its stake in shares of Kenvue by 145.3% in the first quarter. Independence Bank of Kentucky now owns 4,381 shares of the company’s stock worth $94,000 after acquiring an additional 2,595 shares during the period. Founders Financial Securities LLC purchased a new position in shares of Kenvue during the 1st quarter valued at about $688,000. Aviance Capital Partners LLC purchased a new position in shares of Kenvue during the 1st quarter valued at about $230,000. Wolff Wiese Magana LLC lifted its holdings in shares of Kenvue by 41.2% in the 1st quarter. Wolff Wiese Magana LLC now owns 76,462 shares of the company’s stock valued at $1,641,000 after buying an additional 22,307 shares during the period. Finally, Park Place Capital Corp boosted its stake in shares of Kenvue by 18.4% in the first quarter. Park Place Capital Corp now owns 16,656 shares of the company’s stock worth $357,000 after buying an additional 2,585 shares during the last quarter. Institutional investors and hedge funds own 97.64% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on KVUE shares. JPMorgan Chase & Co. boosted their price target on Kenvue from $24.00 to $25.00 and gave the company an “overweight” rating in a report on Friday, October 11th. Bank of America boosted their target price 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. Jefferies Financial Group assumed coverage on shares of Kenvue in a research report on Tuesday, September 24th. They set a “buy” rating and a $27.00 price target on the stock. Piper Sandler upped their price objective on shares of Kenvue from $20.00 to $21.00 and gave the stock a “neutral” rating in a research report on Monday, September 23rd. Finally, Citigroup dropped their target price on Kenvue from $21.00 to $20.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. One investment 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 MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $22.64.

Kenvue Trading Down 1.4 %

Shares of KVUE stock opened at $22.64 on Friday. Kenvue Inc. has a fifty-two week low of $17.67 and a fifty-two week high of $23.55. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.68 and a current ratio of 0.99. The stock’s fifty day moving average is $22.41 and its two-hundred day moving average is $20.29. The firm has a market capitalization of $43.36 billion, a P/E ratio of 39.03, a PEG ratio of 3.00 and a beta of 1.40.

Kenvue (NYSE:KVUE) last issued its earnings results on Tuesday, August 6th. The company reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.04. The business had revenue of $4 billion during the quarter, compared to the consensus estimate of $3.93 billion. Kenvue had a return on equity of 21.80% and a net margin of 7.23%. The company’s revenue for the quarter was down .3% on a year-over-year basis. During the same period last year, the company earned $0.32 EPS. Research analysts expect that Kenvue Inc. will post 1.08 earnings per share for the current fiscal year.

Kenvue Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th will be paid a $0.205 dividend. The ex-dividend date is Wednesday, November 13th. This represents a $0.82 annualized dividend and a dividend yield of 3.62%. Kenvue’s dividend payout ratio (DPR) is 141.38%.

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.