Stonegate Investment Group LLC Has $47.91 Million Stock Holdings in Kenvue Inc. (NYSE:KVUE)

Stonegate Investment Group LLC lifted its position in shares of Kenvue Inc. (NYSE:KVUE) by 1.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,232,340 shares of the company’s stock after purchasing an additional 26,985 shares during the quarter. Kenvue accounts for 1.5% of Stonegate Investment Group LLC’s portfolio, making the stock its 24th largest position. Stonegate Investment Group LLC’s holdings in Kenvue were worth $47,906,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Beaumont Financial Advisors LLC boosted its position in shares of Kenvue by 3.0% during the fourth quarter. Beaumont Financial Advisors LLC now owns 17,532 shares of the company’s stock worth $377,000 after purchasing an additional 509 shares in the last quarter. Pinnacle Bancorp Inc. boosted its position in shares of Kenvue by 51.3% during the fourth quarter. Pinnacle Bancorp Inc. now owns 1,552 shares of the company’s stock worth $33,000 after purchasing an additional 526 shares in the last quarter. Tradition Wealth Management LLC boosted its position in shares of Kenvue by 2.8% during the fourth quarter. Tradition Wealth Management LLC now owns 21,278 shares of the company’s stock worth $458,000 after purchasing an additional 575 shares in the last quarter. Dfpg Investments LLC boosted its position in shares of Kenvue by 2.3% during the fourth quarter. Dfpg Investments LLC now owns 26,659 shares of the company’s stock worth $567,000 after purchasing an additional 589 shares in the last quarter. Finally, Mutual Advisors LLC lifted its position in Kenvue by 6.1% in the 4th quarter. Mutual Advisors LLC now owns 10,606 shares of the company’s stock valued at $228,000 after acquiring an additional 612 shares in the last quarter. 97.64% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. William Blair assumed coverage on shares of Kenvue in a research report on Wednesday, April 3rd. They issued a “market perform” rating on the stock. The Goldman Sachs Group assumed coverage on shares of Kenvue in a research report on Friday, March 1st. They issued a “neutral” rating and a $20.00 price objective on the stock. JPMorgan Chase & Co. cut their price objective 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. Sanford C. Bernstein assumed coverage on shares of Kenvue in a research report on Thursday, April 11th. They issued an “underperform” rating and a $18.00 price objective on the stock. Finally, Royal Bank of Canada cut their price objective on shares of Kenvue from $25.00 to $24.00 and set an “outperform” rating on the stock in a research report on Friday, February 9th. One 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’s stock. According to data from MarketBeat.com, Kenvue currently has an average rating of “Hold” and a consensus target price of $24.85.

Kenvue Stock Down 1.3 %

NYSE:KVUE traded down $0.24 on Tuesday, hitting $18.82. 26,741,112 shares of the company’s stock were exchanged, compared to its average volume of 16,772,949. The firm has a 50-day moving average price of $19.83 and a 200-day moving average price of $20.13. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.12 and a quick ratio of 0.78. Kenvue Inc. has a 52 week low of $17.82 and a 52 week high of $27.80. The company has a market cap of $36.03 billion and a P/E ratio of 15.30.

Kenvue (NYSE:KVUE) last issued its quarterly earnings results on Thursday, February 8th. The company reported $0.31 EPS for the quarter, topping the consensus estimate of $0.28 by $0.03. The firm 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%. Kenvue’s revenue for the quarter was down 2.7% compared to the same quarter last year. As a group, analysts expect that Kenvue Inc. will post 1.15 EPS for the current fiscal year.

Kenvue Announces Dividend

The company 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 dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, May 7th. This represents a $0.80 annualized dividend and a dividend yield of 4.25%. Kenvue’s dividend payout ratio is presently 65.04%.

About Kenvue

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.