Blackhawk Capital Partners LLC Takes $1.66 Million Position in Kenvue Inc. $KVUE

Blackhawk Capital Partners LLC purchased a new position in shares of Kenvue Inc. (NYSE:KVUE) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 96,412 shares of the company’s stock, valued at approximately $1,662,000.

Other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Kenvue by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 234,951,484 shares of the company’s stock valued at $4,052,913,000 after buying an additional 1,604,040 shares during the last quarter. State Street Corp grew its position in shares of Kenvue by 3.5% during the fourth quarter. State Street Corp now owns 118,865,134 shares of the company’s stock worth $2,050,424,000 after acquiring an additional 4,063,257 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Kenvue by 0.8% during the fourth quarter. Geode Capital Management LLC now owns 49,862,574 shares of the company’s stock worth $856,778,000 after acquiring an additional 371,322 shares during the last quarter. Independent Franchise Partners LLP increased its holdings in shares of Kenvue by 56.3% in the 4th quarter. Independent Franchise Partners LLP now owns 48,146,476 shares of the company’s stock valued at $830,527,000 after acquiring an additional 17,343,785 shares during the period. Finally, Norges Bank acquired a new position in shares of Kenvue in the 4th quarter valued at $756,862,000. Institutional investors and hedge funds own 97.64% of the company’s stock.

Kenvue Trading Down 0.3%

NYSE:KVUE opened at $18.70 on Thursday. Kenvue Inc. has a 12-month low of $14.02 and a 12-month high of $22.87. The company has a current ratio of 0.98, a quick ratio of 0.70 and a debt-to-equity ratio of 0.67. The stock’s 50 day simple moving average is $18.14 and its 200-day simple moving average is $17.83. The firm has a market cap of $35.89 billion, a P/E ratio of 21.99, a PEG ratio of 1.42 and a beta of 0.47.

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

Kenvue Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 27th. Shareholders of record on Wednesday, May 13th were given a dividend of $0.2075 per share. The ex-dividend date was Wednesday, May 13th. This represents a $0.83 dividend on an annualized basis and a yield of 4.4%. Kenvue’s dividend payout ratio is presently 97.65%.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Weiss Ratings upgraded shares of Kenvue from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, June 15th. UBS Group dropped their price objective on shares of Kenvue from $19.00 to $18.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 7th. Wall Street Zen raised shares of Kenvue to a “buy” rating in a report on Sunday. Citigroup reduced their target price on shares of Kenvue from $20.00 to $19.00 and set a “neutral” rating for the company in a report on Wednesday, April 15th. Finally, Zacks Research downgraded shares of Kenvue from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 7th. Three investment analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $19.33.

Insider Activity at Kenvue

In other news, General Counsel Matthew Orlando sold 38,491 shares of the firm’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $17.66, for a total value of $679,751.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.59% of the company’s stock.

About Kenvue

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.