Easterly Investment Partners LLC Has $10.59 Million Stock Position in Kenvue Inc. (NYSE:KVUE)

Easterly Investment Partners LLC increased its holdings in shares of Kenvue Inc. (NYSE:KVUE) by 325.6% in the 2nd quarter, HoldingsChannel reports. The firm owned 582,336 shares of the company’s stock after acquiring an additional 445,501 shares during the period. Easterly Investment Partners LLC’s holdings in Kenvue were worth $10,587,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in KVUE. International Assets Investment Management LLC raised its position in Kenvue by 1,748.0% in the fourth quarter. International Assets Investment Management LLC now owns 196,927 shares of the company’s stock worth $4,240,000 after acquiring an additional 186,271 shares during the period. CWM LLC lifted its stake in shares of Kenvue by 142.8% in the 4th quarter. CWM LLC now owns 31,488 shares of the company’s stock valued at $678,000 after purchasing an additional 18,519 shares during the period. OLD National Bancorp IN purchased a new stake in Kenvue in the fourth quarter worth about $326,000. GUNN & Co INVESTMENT MANAGEMENT INC. increased its holdings in shares of Kenvue by 1,297.1% during the fourth quarter. GUNN & Co INVESTMENT MANAGEMENT INC. now owns 727,824 shares of the company’s stock valued at $15,670,000 after acquiring an additional 675,728 shares in the last quarter. Finally, GAMMA Investing LLC purchased a new position in Kenvue in the 4th quarter worth approximately $140,000. 97.64% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

KVUE has been the topic of a number of research reports. HSBC raised their price objective on shares of Kenvue from $20.00 to $21.00 and gave the stock a “hold” rating in a report on Wednesday, May 8th. Citigroup cut their target price on shares of Kenvue from $21.00 to $20.00 and set a “neutral” rating for the company in a research note 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 report on Wednesday, August 7th. JPMorgan Chase & Co. lifted their target price on Kenvue from $22.00 to $24.00 and gave the stock an “overweight” rating in a report on Wednesday, August 7th. Finally, UBS Group raised their price objective on shares of Kenvue from $20.00 to $22.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $22.64.

Kenvue Trading Up 1.2 %

KVUE traded up $0.26 during trading hours on Friday, reaching $21.82. The company’s stock had a trading volume of 6,785,642 shares, compared to its average volume of 18,865,104. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.99 and a quick ratio of 0.68. The stock has a market cap of $41.78 billion, a PE ratio of 27.97, a P/E/G ratio of 2.07 and a beta of 1.38. The business’s 50-day moving average is $19.21 and its 200-day moving average is $19.47. Kenvue Inc. has a fifty-two week low of $17.67 and a fifty-two week high of $24.10.

Kenvue (NYSE:KVUE) last issued its quarterly 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 company had revenue of $4 billion during the quarter, compared to the consensus estimate of $3.93 billion. Kenvue had a net margin of 9.63% and a return on equity of 21.06%. The firm’s quarterly revenue was down .3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.32 earnings per share. As a group, equities research analysts predict that Kenvue Inc. will post 1.13 earnings per share for the current fiscal year.

Kenvue Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 28th. Shareholders of record on Wednesday, August 14th will be paid a $0.205 dividend. This is a boost from Kenvue’s previous quarterly dividend of $0.20. This represents a $0.82 annualized dividend and a yield of 3.76%. The ex-dividend date of this dividend is Wednesday, August 14th. Kenvue’s payout ratio is currently 105.13%.

Kenvue 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.