Simplicity Wealth LLC Makes New Investment in Kenvue Inc. $KVUE

Simplicity Wealth LLC acquired a new stake in shares of Kenvue Inc. (NYSE:KVUE) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 47,212 shares of the company’s stock, valued at approximately $902,000.

A number of other institutional investors also recently bought and sold shares of the stock. Wealth Effects LLC acquired a new position in shares of Kenvue in the second quarter valued at about $3,385,000. HBK Sorce Advisory LLC acquired a new position in shares of Kenvue in the 2nd quarter valued at $1,720,000. Global Retirement Partners LLC acquired a new position in shares of Kenvue in the second quarter worth about $185,000. Alberta Investment Management Corp purchased a new position in Kenvue during the second quarter worth approximately $44,570,000. Finally, Fielder Capital Group LLC purchased a new position in shares of Kenvue during the 2nd quarter valued at approximately $263,000. 97.64% of the stock is currently owned by institutional investors and hedge funds.

Kenvue Stock Down 0.0%

KVUE stock opened at $19.20 on Monday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.71 and a current ratio of 1.01. The stock has a market capitalization of $36.87 billion, a PE ratio of 22.06, a price-to-earnings-growth ratio of 1.37 and a beta of 0.47. Kenvue Inc. has a one year low of $14.02 and a one year high of $21.84. The company has a fifty day moving average of $18.95 and a 200-day moving average of $18.14.

Kenvue (NYSE:KVUE) last posted its quarterly earnings results on Thursday, August 6th. The company reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.01). Kenvue had a return on equity of 21.22% and a net margin of 10.76%.The company had revenue of $3.96 billion for the quarter, compared to analyst estimates of $3.97 billion. During the same period last year, the company earned $0.29 earnings per share. The business’s revenue for the quarter was up 3.0% compared to the same quarter last year. As a group, analysts expect that Kenvue Inc. will post 1.14 EPS for the current year.

Kenvue Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 26th. Investors of record on Wednesday, August 12th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Wednesday, August 12th. This is a positive change from Kenvue’s previous quarterly dividend of $0.21. This represents a $0.84 annualized dividend and a dividend yield of 4.4%. Kenvue’s payout ratio is currently 96.55%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on KVUE. Weiss Ratings raised Kenvue from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, June 15th. Zacks Research lowered shares of Kenvue from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 7th. UBS Group lowered their price target on Kenvue from $20.00 to $19.00 and set a “neutral” rating for the company in a report on Tuesday, August 11th. Wall Street Zen cut shares of Kenvue from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Finally, Barclays lifted their target price on Kenvue from $18.00 to $19.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 21st. Three analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. According to MarketBeat, Kenvue has an average rating of “Hold” and an average target price of $19.27.

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.