Illinois Municipal Retirement Fund Acquires 32,188 Shares of Kenvue Inc. (NYSE:KVUE)

Illinois Municipal Retirement Fund grew its holdings in Kenvue Inc. (NYSE:KVUE) by 10.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 334,101 shares of the company’s stock after purchasing an additional 32,188 shares during the period. Illinois Municipal Retirement Fund’s holdings in Kenvue were worth $7,170,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of KVUE. Vanguard Group Inc. acquired a new position in Kenvue during the 3rd quarter worth about $2,944,816,000. Price T Rowe Associates Inc. MD increased its holdings in Kenvue by 19.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 109,327,221 shares of the company’s stock worth $2,353,816,000 after purchasing an additional 18,118,056 shares in the last quarter. Norges Bank bought a new stake in Kenvue during the 4th quarter worth approximately $282,100,000. Van ECK Associates Corp bought a new stake in Kenvue during the 1st quarter worth approximately $208,745,000. Finally, Franklin Resources Inc. increased its holdings in Kenvue by 69.8% during the 4th quarter. Franklin Resources Inc. now owns 20,815,804 shares of the company’s stock worth $448,164,000 after purchasing an additional 8,555,319 shares in the last quarter. Institutional investors own 97.64% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on KVUE shares. William Blair started coverage on Kenvue in a report on Wednesday, April 3rd. They issued a “market perform” rating for the company. Sanford C. Bernstein started coverage on Kenvue in a research report on Thursday, April 11th. They set an “underperform” rating and a $18.00 target price on the stock. HSBC increased their target price on Kenvue from $20.00 to $21.00 and gave the stock a “hold” rating in a research report on Wednesday, May 8th. Finally, Citigroup lowered their price objective on Kenvue from $21.00 to $20.00 and set a “neutral” rating on the stock in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, Kenvue presently has a consensus rating of “Hold” and an average target price of $23.00.

Kenvue Stock Up 2.3 %

Shares of KVUE traded up $0.42 on Friday, hitting $18.34. 12,523,548 shares of the stock traded hands, compared to its average volume of 20,785,264. The company has a market capitalization of $35.12 billion, a PE ratio of 23.51, a P/E/G ratio of 2.01 and a beta of 1.40. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.68 and a current ratio of 0.99. The business has a 50 day simple moving average of $19.00 and a 200 day simple moving average of $19.78. Kenvue Inc. has a one year low of $17.67 and a one year high of $25.61.

Kenvue (NYSE:KVUE) last issued its earnings results on Tuesday, May 7th. The company reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.03. The company had revenue of $2.89 billion during the quarter, compared to the consensus estimate of $3.79 billion. Kenvue had a net margin of 9.63% and a return on equity of 21.06%. The company’s quarterly revenue was down 24.9% compared to the same quarter last year. As a group, equities analysts forecast that Kenvue Inc. will post 1.13 earnings per share for the current fiscal year.

Kenvue Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 22nd. Investors of record on Wednesday, May 8th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.36%. The ex-dividend date of this dividend was Tuesday, May 7th. Kenvue’s payout ratio is 102.56%.

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.