Oppenheimer & Co. Inc. Acquires 8,693 Shares of Kenvue Inc. (NYSE:KVUE)

Oppenheimer & Co. Inc. increased its stake in shares of Kenvue Inc. (NYSE:KVUE) by 5.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 172,255 shares of the company’s stock after buying an additional 8,693 shares during the period. Oppenheimer & Co. Inc.’s holdings in Kenvue were worth $4,131,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Oppenheimer Asset Management Inc. lifted its position in shares of Kenvue by 0.6% during the first quarter. Oppenheimer Asset Management Inc. now owns 1,341,054 shares of the company’s stock worth $32,158,000 after purchasing an additional 7,739 shares in the last quarter. Continuum Advisory LLC lifted its holdings in Kenvue by 2,071.1% during the 1st quarter. Continuum Advisory LLC now owns 1,954 shares of the company’s stock worth $47,000 after buying an additional 1,864 shares in the last quarter. TrueMark Investments LLC lifted its holdings in Kenvue by 10.7% during the 1st quarter. TrueMark Investments LLC now owns 211,025 shares of the company’s stock worth $5,060,000 after buying an additional 20,430 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its position in Kenvue by 4.0% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 106,140 shares of the company’s stock valued at $2,545,000 after buying an additional 4,034 shares during the last quarter. Finally, Wolff Wiese Magana LLC increased its stake in shares of Kenvue by 2.1% in the 1st quarter. Wolff Wiese Magana LLC now owns 80,140 shares of the company’s stock valued at $1,922,000 after buying an additional 1,627 shares during the period. Institutional investors own 97.64% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on KVUE shares. Canaccord Genuity Group upped their price target on Kenvue from $24.00 to $29.00 and gave the company a “buy” rating in a research note on Wednesday, March 5th. Barclays boosted their price objective on Kenvue from $22.00 to $23.00 and gave the stock an “equal weight” rating in a report on Monday, May 12th. UBS Group raised their target price 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. Redburn Atlantic assumed coverage on shares of Kenvue in a research report on Thursday, April 10th. They set a “neutral” rating and a $23.50 price target for the company. Finally, Evercore ISI initiated coverage on shares of Kenvue in a report on Monday, March 24th. They issued an “in-line” rating and a $25.00 price objective on the stock. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $25.33.

Kenvue Stock Down 0.1%

Kenvue stock opened at $21.17 on Thursday. Kenvue Inc. has a fifty-two week low of $17.67 and a fifty-two week high of $25.17. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.86 and a quick ratio of 0.60. The firm has a market capitalization of $40.62 billion, a price-to-earnings ratio of 38.49, a PEG ratio of 3.29 and a beta of 0.98. The company’s 50 day simple moving average is $22.93 and its 200 day simple moving average is $22.39.

Kenvue (NYSE:KVUE) last announced its quarterly 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. Kenvue had a net margin of 6.90% and a return on equity of 20.87%. The company had revenue of $3.74 billion for the quarter, compared to analysts’ expectations of $3.69 billion. During the same period last year, the firm posted $0.28 earnings per share. The business’s quarterly revenue was down 3.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Kenvue Inc. will post 1.14 EPS for the current year.

Kenvue Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 28th. Shareholders of record on Wednesday, May 14th were paid a $0.205 dividend. The ex-dividend date of this dividend was Wednesday, May 14th. This represents a $0.82 dividend on an annualized basis and a yield of 3.87%. Kenvue’s payout ratio is 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.