Everence Capital Management Inc. Invests $380,000 in Kenvue Inc. (NYSE:KVUE)

Everence Capital Management Inc. acquired a new position in shares of Kenvue Inc. (NYSE:KVUE) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 17,640 shares of the company’s stock, valued at approximately $380,000.

Other hedge funds have also made changes to their positions in the company. Clearstead Advisors LLC acquired a new stake in shares of Kenvue during the third quarter worth $25,000. Planned Solutions Inc. purchased a new position in shares of Kenvue in the 4th quarter worth $27,000. EverSource Wealth Advisors LLC purchased a new position in shares of Kenvue in the 3rd quarter worth $28,000. AdvisorNet Financial Inc purchased a new position in shares of Kenvue in the 3rd quarter worth $28,000. Finally, Global Retirement Partners LLC purchased a new position in shares of Kenvue in the 3rd quarter worth $28,000. Institutional investors and hedge funds own 97.64% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on KVUE. Sanford C. Bernstein began coverage on Kenvue in a research report on Thursday, April 11th. They issued an “underperform” rating and a $18.00 target price on the stock. Royal Bank of Canada cut their target price on Kenvue from $25.00 to $24.00 and set an “outperform” rating on the stock in a research report on Friday, February 9th. William Blair began coverage on Kenvue in a research report on Wednesday, April 3rd. They issued a “market perform” rating on the stock. JPMorgan Chase & Co. cut their target price on Kenvue from $25.00 to $24.00 and set an “overweight” rating on the stock in a research report on Friday, February 9th. Finally, The Goldman Sachs Group assumed coverage on Kenvue in a research report on Friday, March 1st. They issued a “neutral” rating and a $20.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Kenvue presently has an average rating of “Hold” and a consensus price target of $24.85.

Kenvue Price Performance

NYSE:KVUE opened at $19.58 on Friday. Kenvue Inc. has a 12 month low of $17.82 and a 12 month high of $27.80. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.12 and a quick ratio of 0.78. The business’s 50-day moving average is $19.83 and its two-hundred day moving average is $20.16.

Kenvue (NYSE:KVUE) last announced its earnings results on Thursday, February 8th. The company reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.03. Kenvue had a return on equity of 15.62% and a net margin of 9.87%. The business had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.78 billion. The firm’s revenue was down 2.7% on a year-over-year basis. Equities research analysts anticipate that Kenvue Inc. will post 1.15 earnings per share for the current fiscal year.

Kenvue Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 28th. Investors of record on Wednesday, February 14th were paid a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, February 13th. This represents a $0.80 dividend on an annualized basis and a yield of 4.09%.

Kenvue Company 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.