Avantax Advisory Services Inc. Sells 5,107 Shares of Kenvue Inc. (NYSE:KVUE)

Avantax Advisory Services Inc. lessened its stake in Kenvue Inc. (NYSE:KVUE) by 2.8% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 177,718 shares of the company’s stock after selling 5,107 shares during the quarter. Avantax Advisory Services Inc.’s holdings in Kenvue were worth $3,794,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in KVUE. Grove Bank & Trust increased its stake in Kenvue by 438.4% in the 4th quarter. Grove Bank & Trust now owns 1,163 shares of the company’s stock worth $25,000 after buying an additional 947 shares during the period. Geneos Wealth Management Inc. purchased a new position in Kenvue in the 4th quarter worth about $29,000. SRS Capital Advisors Inc. increased its stake in Kenvue by 67.4% in the 4th quarter. SRS Capital Advisors Inc. now owns 1,418 shares of the company’s stock worth $30,000 after buying an additional 571 shares during the period. Fortitude Family Office LLC increased its stake in Kenvue by 106.6% in the 4th quarter. Fortitude Family Office LLC now owns 1,506 shares of the company’s stock worth $32,000 after buying an additional 777 shares during the period. Finally, Versant Capital Management Inc increased its stake in Kenvue by 300.8% in the 4th quarter. Versant Capital Management Inc now owns 1,920 shares of the company’s stock worth $41,000 after buying an additional 1,441 shares during the period. Hedge funds and other institutional investors own 97.64% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on KVUE. Piper Sandler raised their price target on shares of Kenvue from $24.00 to $27.00 and gave the stock an “overweight” rating in a research note on Monday, February 24th. Barclays cut their target price on shares of Kenvue from $23.00 to $21.00 and set an “equal weight” rating on the stock in a research report on Friday, January 17th. Deutsche Bank Aktiengesellschaft downgraded shares of Kenvue from a “buy” rating to a “hold” rating and cut their target price for the company from $25.00 to $24.00 in a research report on Thursday, December 12th. Citigroup cut their target price on shares of Kenvue from $25.00 to $21.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 15th. Finally, Canaccord Genuity Group raised their target price on shares of Kenvue from $24.00 to $29.00 and gave the company a “buy” rating in a research report on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat, Kenvue has an average rating of “Hold” and an average price target of $23.75.

Kenvue Stock Down 1.6 %

Shares of Kenvue stock opened at $22.81 on Friday. The firm’s 50 day moving average price is $21.84 and its 200-day moving average price is $22.38. The company has a quick ratio of 0.69, a current ratio of 1.00 and a debt-to-equity ratio of 0.66. Kenvue Inc. has a 52-week low of $17.67 and a 52-week high of $24.46. The company has a market cap of $43.59 billion, a P/E ratio of 43.03, a PEG ratio of 2.62 and a beta of 1.25.

Kenvue (NYSE:KVUE) last released its earnings results on Thursday, February 6th. The company reported $0.26 EPS for the quarter, hitting analysts’ consensus estimates of $0.26. Kenvue had a net margin of 6.66% and a return on equity of 20.97%. On average, sell-side analysts predict that Kenvue Inc. will post 1.14 EPS for the current fiscal year.

Kenvue Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th were paid a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a yield of 3.60%. The ex-dividend date of this dividend was Wednesday, February 12th. Kenvue’s dividend payout ratio (DPR) is presently 154.72%.

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.