Greenwood Capital Associates LLC Purchases 56,326 Shares of Kenvue Inc. $KVUE

Greenwood Capital Associates LLC grew its holdings in shares of Kenvue Inc. (NYSE:KVUE) by 100.4% in the 1st quarter, Holdings Channel.com reports. The firm owned 112,417 shares of the company’s stock after purchasing an additional 56,326 shares during the quarter. Greenwood Capital Associates LLC’s holdings in Kenvue were worth $1,938,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Frank Rimerman Advisors LLC grew its position in Kenvue by 86.8% during the first quarter. Frank Rimerman Advisors LLC now owns 44,736 shares of the company’s stock valued at $771,000 after buying an additional 20,786 shares during the period. Montag A & Associates Inc. raised its position in Kenvue by 6.3% in the first quarter. Montag A & Associates Inc. now owns 10,156 shares of the company’s stock worth $175,000 after acquiring an additional 600 shares during the period. R Squared Ltd boosted its stake in shares of Kenvue by 136.5% during the 1st quarter. R Squared Ltd now owns 65,589 shares of the company’s stock worth $1,131,000 after acquiring an additional 37,859 shares during the last quarter. Credit Industriel ET Commercial boosted its stake in shares of Kenvue by 343.5% during the 1st quarter. Credit Industriel ET Commercial now owns 543,251 shares of the company’s stock worth $9,366,000 after acquiring an additional 420,751 shares during the last quarter. Finally, Swedbank AB grew its position in shares of Kenvue by 802.9% during the 1st quarter. Swedbank AB now owns 4,912,842 shares of the company’s stock valued at $84,697,000 after acquiring an additional 4,368,731 shares during the period. Institutional investors own 97.64% of the company’s stock.

Kenvue Stock Performance

Shares of NYSE KVUE opened at $19.28 on Thursday. The firm has a fifty day moving average price of $17.98 and a 200-day moving average price of $17.76. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.98 and a quick ratio of 0.70. The stock has a market cap of $37.01 billion, a PE ratio of 22.68, a price-to-earnings-growth ratio of 1.50 and a beta of 0.47. Kenvue Inc. has a 1 year low of $14.02 and a 1 year high of $22.87.

Kenvue (NYSE:KVUE) last released its earnings results on Thursday, May 7th. The company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.05. The company had revenue of $3.91 billion for the quarter, compared to analysts’ expectations of $3.84 billion. Kenvue had a net margin of 10.61% and a return on equity of 20.81%. Kenvue’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.24 EPS. Equities analysts anticipate that Kenvue Inc. will post 1.16 earnings per share for the current fiscal year.

Kenvue Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 27th. Stockholders of record on Wednesday, May 13th were given a $0.2075 dividend. This represents a $0.83 annualized dividend and a dividend yield of 4.3%. The ex-dividend date was Wednesday, May 13th. Kenvue’s payout ratio is presently 97.65%.

Insider Activity at Kenvue

In other news, General Counsel Matthew Orlando sold 38,491 shares of the company’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $17.66, for a total value of $679,751.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.59% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have recently commented on KVUE. Citigroup reduced their price objective on Kenvue from $20.00 to $19.00 and set a “neutral” rating for the company in a research note on Wednesday, April 15th. Zacks Research upgraded Kenvue from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 8th. UBS Group cut their price target on Kenvue from $19.00 to $18.00 and set a “neutral” rating for the company in a report on Tuesday, April 7th. Weiss Ratings upgraded Kenvue from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, June 15th. Finally, Barclays decreased their price objective on Kenvue from $19.00 to $18.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 14th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and twelve have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $19.33.

Kenvue Profile

Kenvue is a consumer health company that was established as a standalone, publicly traded business after separating from Johnson & Johnson. Listed on the New York Stock Exchange under the symbol KVUE, Kenvue focuses on the development, manufacture, marketing and distribution of consumer health and personal care products across a range of categories including skin and beauty care, baby care, oral care, wound care and over?the?counter medicines.

The company owns and markets a portfolio of widely recognized consumer brands, including names familiar to global shoppers across retail and pharmacy channels.