Foresight Global Investors Inc. Invests $1.16 Million in Kenvue Inc. (NYSE:KVUE)

Foresight Global Investors Inc. purchased a new position in shares of Kenvue Inc. (NYSE:KVUE) during the fourth quarter, HoldingsChannel reports. The fund purchased 53,750 shares of the company’s stock, valued at approximately $1,157,000.

A number of other institutional investors have also recently bought and sold shares of KVUE. Commonwealth Equity Services LLC acquired a new stake in shares of Kenvue in the third quarter valued at approximately $5,053,000. Cambridge Investment Research Advisors Inc. bought a new position in shares of Kenvue in the third quarter worth $1,809,000. Raymond James Financial Services Advisors Inc. raised its stake in Kenvue by 1,089.1% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 582,662 shares of the company’s stock valued at $11,700,000 after purchasing an additional 533,660 shares in the last quarter. Stratos Wealth Partners LTD. bought a new stake in Kenvue during the third quarter worth about $982,000. Finally, Lindbrook Capital LLC increased its holdings in Kenvue by 14,409.4% in the 3rd quarter. Lindbrook Capital LLC now owns 7,690 shares of the company’s stock valued at $154,000 after buying an additional 7,637 shares during the period. Institutional investors own 97.64% of the company’s stock.

Kenvue Stock Up 0.4 %

Shares of Kenvue stock traded up $0.09 on Thursday, hitting $20.54. 13,146,930 shares of the company’s stock traded hands, compared to its average volume of 17,092,076. Kenvue Inc. has a one year low of $17.82 and a one year high of $27.80. The company has a quick ratio of 0.78, a current ratio of 1.12 and a debt-to-equity ratio of 0.69. The company has a fifty day moving average of $19.90 and a two-hundred day moving average of $20.12.

Kenvue (NYSE:KVUE) last released its earnings results on Tuesday, May 7th. The company reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.03. Kenvue had a net margin of 9.87% and a return on equity of 15.62%. The company had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $3.79 billion. The company’s revenue was down 24.9% compared to the same quarter last year. Sell-side analysts anticipate that Kenvue Inc. will post 1.15 earnings per share for the current year.

Kenvue Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Wednesday, May 8th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 3.89%. The ex-dividend date of this dividend is Tuesday, May 7th.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on KVUE shares. Royal Bank of Canada reduced their price target 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. Sanford C. Bernstein initiated coverage on shares of Kenvue in a report on Thursday, April 11th. They set an “underperform” rating and a $18.00 price target for the company. JPMorgan Chase & Co. cut their price objective on Kenvue from $25.00 to $24.00 and set an “overweight” rating on the stock in a report on Friday, February 9th. HSBC increased their target price on Kenvue from $20.00 to $21.00 and gave the company a “hold” rating in a research report on Wednesday. Finally, The Goldman Sachs Group began coverage on shares of Kenvue in a report on Friday, March 1st. They issued a “neutral” rating and a $20.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $24.38.

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.