Pathway Financial Advisers LLC Acquires 5,526 Shares of Kenvue Inc. (NYSE:KVUE)

Pathway Financial Advisers LLC grew its holdings in shares of Kenvue Inc. (NYSE:KVUE) by 107.7% during the 3rd quarter, HoldingsChannel reports. The fund owned 10,657 shares of the company’s stock after acquiring an additional 5,526 shares during the quarter. Pathway Financial Advisers LLC’s holdings in Kenvue were worth $247,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in KVUE. Price T Rowe Associates Inc. MD lifted its stake in Kenvue by 23.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 134,565,333 shares of the company’s stock worth $2,887,773,000 after purchasing an additional 25,238,112 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Kenvue by 12.0% in the first quarter. Vanguard Group Inc. now owns 166,789,085 shares of the company’s stock worth $3,579,294,000 after buying an additional 17,908,497 shares during the period. Van ECK Associates Corp lifted its stake in shares of Kenvue by 110.9% in the 2nd quarter. Van ECK Associates Corp now owns 20,510,427 shares of the company’s stock valued at $372,880,000 after acquiring an additional 10,783,258 shares during the last quarter. Clearbridge Investments LLC boosted its holdings in Kenvue by 16,051.1% during the 1st quarter. Clearbridge Investments LLC now owns 9,813,597 shares of the company’s stock valued at $210,600,000 after acquiring an additional 9,752,836 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in Kenvue by 21.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 43,444,085 shares of the company’s stock valued at $789,813,000 after acquiring an additional 7,546,362 shares during the period. 97.64% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft boosted their price objective on Kenvue from $23.00 to $24.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. Jefferies Financial Group assumed coverage on shares of Kenvue in a report on Tuesday, September 24th. They set a “buy” rating and a $27.00 price target for the company. UBS Group raised their price target on shares of Kenvue from $20.00 to $22.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. JPMorgan Chase & Co. upped their price objective on shares of Kenvue from $24.00 to $25.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. Finally, Citigroup dropped their target price on shares of Kenvue from $21.00 to $20.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $22.64.

Kenvue Price Performance

Shares of NYSE KVUE opened at $22.64 on Friday. Kenvue Inc. has a 1 year low of $17.67 and a 1 year high of $23.55. The stock has a market capitalization of $43.36 billion, a P/E ratio of 39.03, a P/E/G ratio of 3.00 and a beta of 1.40. The company’s 50-day moving average is $22.41 and its 200 day moving average is $20.29. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.99 and a quick ratio of 0.68.

Kenvue (NYSE:KVUE) last posted its earnings results on Tuesday, August 6th. The company reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.04. The firm had revenue of $4 billion for the quarter, compared to the consensus estimate of $3.93 billion. Kenvue had a return on equity of 21.80% and a net margin of 7.23%. The business’s revenue for the quarter was down .3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.32 EPS. On average, sell-side analysts expect that Kenvue Inc. will post 1.08 earnings per share for the current year.

Kenvue Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th will be given a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a yield of 3.62%. The ex-dividend date is Wednesday, November 13th. Kenvue’s dividend payout ratio is currently 141.38%.

Kenvue 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.