Forum Financial Management LP Buys 5,174 Shares of Kenvue Inc. (NYSE:KVUE)

Forum Financial Management LP grew its stake in shares of Kenvue Inc. (NYSE:KVUE) by 29.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 22,917 shares of the company’s stock after purchasing an additional 5,174 shares during the period. Forum Financial Management LP’s holdings in Kenvue were worth $489,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Grove Bank & Trust boosted its position in Kenvue by 438.4% during the 4th quarter. Grove Bank & Trust now owns 1,163 shares of the company’s stock valued at $25,000 after acquiring an additional 947 shares in the last quarter. Geneos Wealth Management Inc. purchased a new position in shares of Kenvue in the 4th quarter valued at approximately $29,000. SRS Capital Advisors Inc. boosted its position in shares of Kenvue by 67.4% during the fourth quarter. SRS Capital Advisors Inc. now owns 1,418 shares of the company’s stock valued at $30,000 after purchasing an additional 571 shares in the last quarter. Fortitude Family Office LLC grew its stake in Kenvue by 106.6% in the fourth quarter. Fortitude Family Office LLC now owns 1,506 shares of the company’s stock worth $32,000 after purchasing an additional 777 shares during the period. Finally, Versant Capital Management Inc raised its holdings in Kenvue by 300.8% in the fourth quarter. Versant Capital Management Inc now owns 1,920 shares of the company’s stock worth $41,000 after purchasing an additional 1,441 shares in the last quarter. Hedge funds and other institutional investors own 97.64% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on KVUE. Piper Sandler upped their target price on shares of Kenvue from $24.00 to $27.00 and gave the stock an “overweight” rating in a research report on Monday, February 24th. Citigroup raised their target price on shares of Kenvue from $21.00 to $22.00 and gave the company a “neutral” rating in a research note on Monday, April 14th. Barclays lowered their target price on shares of Kenvue from $23.00 to $22.00 and set an “equal weight” rating for the company in a report on Monday, April 14th. Evercore ISI started coverage on Kenvue in a research note on Monday, March 24th. They issued an “in-line” rating and a $25.00 price target on the stock. Finally, UBS Group lowered their price objective on Kenvue from $23.00 to $21.00 and set a “neutral” rating for the company in a research note on Friday, February 7th. Eight equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Kenvue presently has an average rating of “Hold” and a consensus price target of $24.42.

Kenvue Stock Performance

Shares of KVUE stock opened at $23.42 on Monday. The company has a quick ratio of 0.69, a current ratio of 1.00 and a debt-to-equity ratio of 0.66. The company has a 50 day moving average price of $22.91 and a 200-day moving average price of $22.41. Kenvue Inc. has a 52 week low of $17.67 and a 52 week high of $24.46. The firm has a market capitalization of $44.93 billion, a PE ratio of 44.19, a P/E/G ratio of 2.62 and a beta of 1.02.

Kenvue (NYSE:KVUE) last posted 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%. As a group, equities research analysts expect that Kenvue Inc. will post 1.14 earnings per share for the current year.

Kenvue Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 28th. Shareholders of record on Wednesday, May 14th will be issued a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a yield of 3.50%. The ex-dividend date is Wednesday, May 14th. Kenvue’s dividend payout ratio is 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.