GAMMA Investing LLC Increases Position in Kenvue Inc. (NYSE:KVUE)

GAMMA Investing LLC raised its holdings in shares of Kenvue Inc. (NYSE:KVUE) by 3,092.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 594,176 shares of the company’s stock after buying an additional 575,567 shares during the period. GAMMA Investing LLC’s holdings in Kenvue were worth $14,248,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Handelsbanken Fonder AB boosted its position in shares of Kenvue by 2.9% during the fourth quarter. Handelsbanken Fonder AB now owns 742,184 shares of the company’s stock valued at $15,846,000 after buying an additional 21,222 shares during the period. Alberta Investment Management Corp raised its stake in shares of Kenvue by 23.2% during the fourth quarter. Alberta Investment Management Corp now owns 582,895 shares of the company’s stock valued at $12,445,000 after acquiring an additional 109,700 shares in the last quarter. Longbow Finance SA raised its stake in shares of Kenvue by 5.0% during the fourth quarter. Longbow Finance SA now owns 280,568 shares of the company’s stock valued at $5,990,000 after acquiring an additional 13,287 shares in the last quarter. Steward Partners Investment Advisory LLC raised its stake in shares of Kenvue by 143.1% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 47,938 shares of the company’s stock valued at $1,023,000 after acquiring an additional 28,216 shares in the last quarter. Finally, CORDA Investment Management LLC. raised its stake in shares of Kenvue by 1.4% during the fourth quarter. CORDA Investment Management LLC. now owns 1,253,096 shares of the company’s stock valued at $26,754,000 after acquiring an additional 17,466 shares in the last quarter. Hedge funds and other institutional investors own 97.64% of the company’s stock.

Kenvue Stock Up 0.4%

Kenvue stock opened at $21.73 on Friday. The business has a fifty day moving average of $23.16 and a two-hundred day moving average of $22.60. 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 $41.69 billion, a P/E ratio of 41.00, a P/E/G ratio of 2.62 and a beta of 0.98. Kenvue Inc. has a twelve month low of $17.67 and a twelve month high of $25.17.

Kenvue (NYSE:KVUE) last posted its earnings results on Thursday, May 8th. The company reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.01. The company had revenue of $3.74 billion during the quarter, compared to analyst estimates of $3.69 billion. Kenvue had a return on equity of 20.97% and a net margin of 6.66%. Kenvue’s revenue was down 3.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.28 earnings per share. On average, analysts forecast that Kenvue Inc. will post 1.14 earnings per share for the current fiscal year.

Kenvue Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 28th. Stockholders of record on Wednesday, May 14th were issued a dividend of $0.205 per share. The ex-dividend date of this dividend was Wednesday, May 14th. This represents a $0.82 annualized dividend and a dividend yield of 3.77%. Kenvue’s dividend payout ratio is presently 149.09%.

Analysts Set New Price Targets

Several research firms have recently weighed in on KVUE. Barclays lifted their price target on shares of Kenvue from $22.00 to $23.00 and gave the company an “equal weight” rating in a research note on Monday, May 12th. Evercore ISI began coverage on shares of Kenvue in a research note on Monday, March 24th. They set an “in-line” rating and a $25.00 price target for the company. Canaccord Genuity Group lifted their price target on shares of Kenvue from $24.00 to $29.00 and gave the company a “buy” rating in a research note on Wednesday, March 5th. UBS Group lifted their price target on shares of Kenvue from $24.00 to $25.00 and gave the company a “neutral” rating in a research note on Friday, May 9th. Finally, Redburn Atlantic began coverage on shares of Kenvue in a research note on Thursday, April 10th. They set a “neutral” rating and a $23.50 price target for the company. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Kenvue presently has an average rating of “Hold” and an average target price of $25.33.

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.