First Trust Direct Indexing L.P. Acquires Shares of 18,939 Kenvue Inc. (NYSE:KVUE)

First Trust Direct Indexing L.P. bought a new position in shares of Kenvue Inc. (NYSE:KVUE) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 18,939 shares of the company’s stock, valued at approximately $408,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Empirical Finance LLC acquired a new position in shares of Kenvue during the third quarter worth about $336,000. UniSuper Management Pty Ltd purchased a new position in shares of Kenvue during the 3rd quarter worth approximately $35,544,000. Citizens Business Bank acquired a new stake in shares of Kenvue in the 3rd quarter valued at approximately $2,507,000. Fifth Third Bancorp boosted its stake in shares of Kenvue by 35.3% in the fourth quarter. Fifth Third Bancorp now owns 277,580 shares of the company’s stock valued at $5,976,000 after buying an additional 72,435 shares in the last quarter. Finally, Clearbridge Investments LLC grew its holdings in Kenvue by 364.6% during the third quarter. Clearbridge Investments LLC now owns 484,321 shares of the company’s stock worth $9,725,000 after acquiring an additional 380,071 shares during the period. Hedge funds and other institutional investors own 97.64% of the company’s stock.

Analyst Upgrades and Downgrades

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

Kenvue Trading Down 0.6 %

KVUE opened at $19.08 on Tuesday. The business’s fifty day simple moving average is $19.82 and its 200 day simple moving average is $20.11. Kenvue Inc. has a 52 week low of $17.82 and a 52 week high of $27.80. The company has a quick ratio of 0.78, a current ratio of 1.12 and a debt-to-equity ratio of 0.69.

Kenvue (NYSE:KVUE) last released its quarterly earnings results on Thursday, February 8th. The company reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.03. The company had revenue of $3.67 billion for the quarter, compared to analysts’ expectations of $3.78 billion. Kenvue had a net margin of 9.87% and a return on equity of 15.62%. The firm’s quarterly revenue was down 2.7% compared to the same quarter last year. As a group, equities analysts predict that Kenvue Inc. will post 1.15 EPS for the current year.

Kenvue Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Wednesday, May 8th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.19%. The ex-dividend date is Tuesday, May 7th.

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.