San Luis Wealth Advisors LLC Purchases Shares of 52,880 Kenvue Inc. $KVUE

San Luis Wealth Advisors LLC acquired a new position in shares of Kenvue Inc. (NYSE:KVUE) in the second quarter, HoldingsChannel reports. The fund acquired 52,880 shares of the company’s stock, valued at approximately $1,011,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Arrowstreet Capital Limited Partnership acquired a new position in Kenvue in the second quarter valued at $6,528,000. Jump Financial LLC increased its stake in Kenvue by 210.6% during the second quarter. Jump Financial LLC now owns 54,823 shares of the company’s stock worth $1,147,000 after acquiring an additional 37,170 shares during the last quarter. AXA S.A. raised its holdings in shares of Kenvue by 21.1% in the 2nd quarter. AXA S.A. now owns 48,892 shares of the company’s stock worth $1,023,000 after purchasing an additional 8,524 shares during the period. NewEdge Advisors LLC raised its holdings in shares of Kenvue by 219.1% in the 2nd quarter. NewEdge Advisors LLC now owns 97,481 shares of the company’s stock worth $2,040,000 after purchasing an additional 66,930 shares during the period. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of Kenvue by 0.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,873,705 shares of the company’s stock worth $39,217,000 after purchasing an additional 10,885 shares during the period. 97.64% of the stock is currently owned by institutional investors and hedge funds.

Kenvue Stock Performance

Kenvue stock opened at $18.97 on Thursday. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.01 and a quick ratio of 0.71. The firm’s fifty day moving average price is $18.88 and its 200 day moving average price is $18.12. The company has a market capitalization of $36.44 billion, a price-to-earnings ratio of 21.80, a price-to-earnings-growth ratio of 1.36 and a beta of 0.47. Kenvue Inc. has a 12-month low of $14.02 and a 12-month high of $21.95.

Kenvue (NYSE:KVUE) last announced its earnings results on Thursday, August 6th. The company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.01). Kenvue had a net margin of 10.76% and a return on equity of 21.22%. The business had revenue of $3.96 billion for the quarter, compared to analyst estimates of $3.97 billion. During the same quarter in the prior year, the business earned $0.29 earnings per share. The firm’s revenue was up 3.0% on a year-over-year basis. On average, research analysts forecast that Kenvue Inc. will post 1.14 EPS for the current fiscal year.

Kenvue Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Investors of record on Wednesday, August 12th will be issued a $0.21 dividend. This is an increase from Kenvue’s previous quarterly dividend of $0.21. This represents a $0.84 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date of this dividend is Wednesday, August 12th. Kenvue’s dividend payout ratio (DPR) is currently 95.40%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on KVUE. UBS Group decreased their target price on Kenvue from $20.00 to $19.00 and set a “neutral” rating for the company in a report on Tuesday. Barclays increased their target price on shares of Kenvue from $18.00 to $19.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 21st. Citigroup reduced their price target on shares of Kenvue from $20.00 to $19.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 15th. Wall Street Zen downgraded shares of Kenvue from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Finally, Zacks Research lowered shares of Kenvue from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 7th. Three investment analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $19.27.

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.