Mach 1 Financial Group LLC Acquires Shares of 86,923 Kenvue Inc. (NYSE:KVUE)

Mach 1 Financial Group LLC acquired a new stake in shares of Kenvue Inc. (NYSE:KVUE) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 86,923 shares of the company’s stock, valued at approximately $1,871,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Clearstead Advisors LLC purchased a new stake in shares of Kenvue in the 3rd quarter worth about $25,000. Planned Solutions Inc. purchased a new stake in shares of Kenvue in the 4th quarter worth about $27,000. Venturi Wealth Management LLC purchased a new stake in shares of Kenvue in the 3rd quarter worth about $28,000. EverSource Wealth Advisors LLC purchased a new stake in shares of Kenvue in the 3rd quarter worth about $28,000. Finally, Cullen Frost Bankers Inc. purchased a new stake in shares of Kenvue in the 3rd quarter worth about $29,000. 97.64% of the stock is owned by hedge funds and other institutional investors.

Kenvue Stock Performance

KVUE traded down $0.24 during midday trading on Tuesday, hitting $18.82. 26,741,112 shares of the company traded hands, compared to its average volume of 16,772,949. 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 company’s 50-day moving average is $19.83 and its 200 day moving average is $20.13. Kenvue Inc. has a 52 week low of $17.82 and a 52 week high of $27.80.

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

Kenvue Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Wednesday, May 8th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 4.25%. The ex-dividend date of this dividend is Tuesday, May 7th.

Analyst Ratings Changes

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

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.