Cobblestone Capital Advisors LLC NY Sells 3,112 Shares of Kenvue Inc. (NYSE:KVUE)

Cobblestone Capital Advisors LLC NY lowered its stake in Kenvue Inc. (NYSE:KVUE) by 5.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 55,798 shares of the company’s stock after selling 3,112 shares during the quarter. Cobblestone Capital Advisors LLC NY’s holdings in Kenvue were worth $1,014,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in KVUE. Manchester Capital Management LLC boosted its stake in Kenvue by 80.8% during the first quarter. Manchester Capital Management LLC now owns 1,186 shares of the company’s stock valued at $25,000 after buying an additional 530 shares during the period. Mather Group LLC. purchased a new stake in Kenvue in the first quarter valued at approximately $28,000. Riverview Trust Co bought a new stake in Kenvue during the first quarter valued at approximately $33,000. MV Capital Management Inc. grew its stake in Kenvue by 71.2% in the 1st quarter. MV Capital Management Inc. now owns 1,544 shares of the company’s stock worth $33,000 after buying an additional 642 shares in the last quarter. Finally, Salomon & Ludwin LLC bought a new position in shares of Kenvue in the 1st quarter worth $33,000. Hedge funds and other institutional investors own 97.64% of the company’s stock.

Kenvue Stock Up 1.6 %

KVUE stock traded up $0.35 during midday trading on Friday, hitting $22.86. The company’s stock had a trading volume of 18,883,374 shares, compared to its average volume of 18,601,000. The firm’s 50-day moving average is $19.92 and its 200-day moving average is $19.67. The company has a current ratio of 0.99, a quick ratio of 0.68 and a debt-to-equity ratio of 0.69. Kenvue Inc. has a 12 month low of $17.67 and a 12 month high of $23.00. The company has a market cap of $43.77 billion, a PE ratio of 29.31, a P/E/G ratio of 2.76 and a beta of 1.38.

Kenvue (NYSE:KVUE) last posted its earnings results on Tuesday, August 6th. The company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.04. Kenvue had a net margin of 7.23% and a return on equity of 21.80%. The business had revenue of $4 billion for the quarter, compared to analysts’ expectations of $3.93 billion. During the same quarter in the prior year, the business earned $0.32 EPS. The business’s revenue for the quarter was down .3% compared to the same quarter last year. On average, equities research analysts forecast that Kenvue Inc. will post 1.08 earnings per share for the current fiscal year.

Kenvue Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 28th. Stockholders of record on Wednesday, August 14th were paid a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a dividend yield of 3.59%. The ex-dividend date of this dividend was Wednesday, August 14th. This is a boost from Kenvue’s previous quarterly dividend of $0.20. Kenvue’s dividend payout ratio (DPR) is currently 105.13%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on KVUE shares. Royal Bank of Canada restated an “outperform” rating and issued a $24.00 target price on shares of Kenvue in a research report on Wednesday, August 7th. UBS Group upped their price objective on shares of Kenvue from $20.00 to $22.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Citigroup reduced their target price on shares of Kenvue from $21.00 to $20.00 and set a “neutral” rating on the stock in a report on Wednesday, July 10th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Kenvue from $23.00 to $24.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Finally, JPMorgan Chase & Co. raised their price objective on Kenvue from $22.00 to $24.00 and gave the company an “overweight” rating in a research note on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $22.64.

Kenvue Company Profile

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.