Sound Income Strategies LLC Grows Position in Kenvue Inc. (NYSE:KVUE)

Sound Income Strategies LLC boosted its position in Kenvue Inc. (NYSE:KVUE) by 9.6% during the 1st quarter, Holdings Channel reports. The fund owned 409,722 shares of the company’s stock after acquiring an additional 35,770 shares during the quarter. Sound Income Strategies LLC’s holdings in Kenvue were worth $8,793,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of KVUE. Planned Solutions Inc. acquired a new stake in Kenvue during the fourth quarter worth approximately $27,000. Pacific Capital Wealth Advisors Inc. purchased a new position in shares of Kenvue in the 4th quarter valued at $28,000. Mather Group LLC. acquired a new stake in Kenvue during the 1st quarter worth $28,000. CVA Family Office LLC acquired a new stake in Kenvue during the 4th quarter worth $32,000. Finally, Pinnacle Bancorp Inc. lifted its position in Kenvue by 51.3% in the fourth quarter. Pinnacle Bancorp Inc. now owns 1,552 shares of the company’s stock valued at $33,000 after acquiring an additional 526 shares during the last quarter. 97.64% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. HSBC raised their target price on shares of Kenvue from $20.00 to $21.00 and gave the stock a “hold” rating in a research report on Wednesday, May 8th. William Blair assumed coverage on shares of Kenvue in a research note on Wednesday, April 3rd. They issued a “market perform” rating on the stock. The Goldman Sachs Group started coverage on shares of Kenvue in a research note on Friday, March 1st. They set a “neutral” rating and a $20.00 target price for the company. Citigroup restated a “neutral” rating and issued a $21.00 price target on shares of Kenvue in a research report on Tuesday, May 28th. Finally, Sanford C. Bernstein assumed coverage on Kenvue in a research report on Thursday, April 11th. They set an “underperform” rating and a $18.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $23.09.

Kenvue Price Performance

NYSE KVUE traded down $0.06 during trading hours on Wednesday, reaching $18.59. The company’s stock had a trading volume of 16,367,087 shares, compared to its average volume of 19,303,367. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.68 and a current ratio of 0.99. The company’s 50-day moving average is $19.26 and its two-hundred day moving average is $20.02. Kenvue Inc. has a fifty-two week low of $17.75 and a fifty-two week high of $26.66. The stock has a market cap of $35.60 billion and a PE ratio of 23.69.

Kenvue (NYSE:KVUE) last released its quarterly earnings results on Tuesday, May 7th. The company reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.03. Kenvue had a return on equity of 21.06% and a net margin of 9.63%. The company had revenue of $2.89 billion during the quarter, compared to analysts’ expectations of $3.79 billion. Kenvue’s revenue for the quarter was down 24.9% on a year-over-year basis. Analysts forecast that Kenvue Inc. will post 1.17 EPS for the current year.

Kenvue Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 22nd. Shareholders of record on Wednesday, May 8th were paid a $0.20 dividend. The ex-dividend date was Tuesday, May 7th. This represents a $0.80 annualized dividend and a yield of 4.30%. Kenvue’s payout ratio is currently 102.56%.

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.