White Knight Strategic Wealth Advisors LLC Makes New $256,000 Investment in Kenvue Inc. (NYSE:KVUE)

White Knight Strategic Wealth Advisors LLC purchased a new stake in shares of Kenvue Inc. (NYSE:KVUE) during the third quarter, HoldingsChannel.com reports. The fund purchased 11,083 shares of the company’s stock, valued at approximately $256,000.

A number of other large investors have also recently made changes to their positions in the stock. Huntington National Bank increased its position in shares of Kenvue by 26.5% during the 3rd quarter. Huntington National Bank now owns 4,161 shares of the company’s stock valued at $96,000 after purchasing an additional 871 shares during the last quarter. ING Groep NV increased its holdings in Kenvue by 23.6% during the third quarter. ING Groep NV now owns 3,576,616 shares of the company’s stock valued at $82,727,000 after buying an additional 681,954 shares during the last quarter. Lorne Steinberg Wealth Management Inc. raised its position in Kenvue by 59.0% in the second quarter. Lorne Steinberg Wealth Management Inc. now owns 154,690 shares of the company’s stock worth $2,812,000 after acquiring an additional 57,375 shares during the period. Kennon Green & Company LLC boosted its stake in shares of Kenvue by 140.7% during the 2nd quarter. Kennon Green & Company LLC now owns 159,106 shares of the company’s stock worth $2,893,000 after acquiring an additional 93,008 shares during the last quarter. Finally, Czech National Bank grew its position in shares of Kenvue by 20.3% during the 2nd quarter. Czech National Bank now owns 364,886 shares of the company’s stock valued at $6,634,000 after acquiring an additional 61,635 shares during the period. 97.64% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on KVUE. Jefferies Financial Group began coverage on Kenvue in a report on Tuesday, September 24th. They issued a “buy” rating and a $27.00 target price on the stock. Royal Bank of Canada downgraded Kenvue from an “outperform” rating to a “sector perform” rating and set a $24.00 price target for the company. in a research note on Tuesday, September 24th. Piper Sandler increased their price objective on shares of Kenvue from $20.00 to $21.00 and gave the company a “neutral” rating in a report on Monday, September 23rd. JPMorgan Chase & Co. boosted their target price on shares of Kenvue from $24.00 to $25.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of Kenvue from $23.00 to $24.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. One research 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’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $22.64.

Kenvue Stock Performance

Shares of NYSE:KVUE opened at $24.10 on Friday. The firm has a fifty day simple moving average of $22.94 and a two-hundred day simple moving average of $20.99. Kenvue Inc. has a 52 week low of $17.67 and a 52 week high of $24.46. 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 stock has a market capitalization of $46.20 billion, a P/E ratio of 43.81, a PEG ratio of 2.19 and a beta of 1.36.

Kenvue (NYSE:KVUE) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.01. Kenvue had a net margin of 6.88% and a return on equity of 21.43%. The firm had revenue of $3.90 billion during the quarter, compared to the consensus estimate of $3.92 billion. During the same quarter last year, the firm earned $0.31 EPS. The firm’s revenue for the quarter was down .4% compared to the same quarter last year. On average, analysts expect that Kenvue Inc. will post 1.07 earnings per share for the current fiscal year.

Kenvue Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th were issued a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a dividend yield of 3.40%. The ex-dividend date was Wednesday, November 13th. Kenvue’s dividend payout ratio (DPR) is 149.09%.

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.