Kenvue Inc. (NYSE:KVUE) Shares Sold by Kentucky Retirement Systems Insurance Trust Fund

Kentucky Retirement Systems Insurance Trust Fund lessened its holdings in shares of Kenvue Inc. (NYSE:KVUE) by 7.4% during the 1st quarter, HoldingsChannel reports. The firm owned 56,877 shares of the company’s stock after selling 4,524 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Kenvue were worth $1,221,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in KVUE. Manchester Capital Management LLC raised its holdings in shares of Kenvue by 80.8% during the 1st quarter. Manchester Capital Management LLC now owns 1,186 shares of the company’s stock worth $25,000 after acquiring an additional 530 shares during the period. Planned Solutions Inc. purchased a new position in shares of Kenvue during the 4th quarter worth $27,000. Pacific Capital Wealth Advisors Inc. purchased a new position in shares of Kenvue during the 4th quarter worth $28,000. Mather Group LLC. purchased a new position in shares of Kenvue during the 1st quarter worth $28,000. Finally, Oakworth Capital Inc. purchased a new position in shares of Kenvue during the 1st quarter worth $31,000. Institutional investors and hedge funds own 97.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on KVUE. William Blair began coverage on Kenvue in a report on Wednesday, April 3rd. They set a “market perform” rating on the stock. Citigroup reduced their price target on Kenvue from $21.00 to $20.00 and set a “neutral” rating on the stock in a report on Wednesday, July 10th. Sanford C. Bernstein started coverage on shares of Kenvue in a report on Thursday, April 11th. They issued an “underperform” rating and a $18.00 price objective on the stock. HSBC boosted their price objective on shares of Kenvue from $20.00 to $21.00 and gave the company a “hold” rating in a report on Wednesday, May 8th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Kenvue from $23.00 to $22.00 and set an “overweight” rating on the stock in a report on Monday, July 22nd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $22.45.

Kenvue Trading Up 0.7 %

NYSE:KVUE traded up $0.13 on Monday, reaching $18.82. 3,442,484 shares of the company’s stock were exchanged, compared to its average volume of 18,932,586. The company has a quick ratio of 0.68, a current ratio of 0.99 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $36.04 billion, a price-to-earnings ratio of 23.96, a price-to-earnings-growth ratio of 2.07 and a beta of 1.41. The business has a fifty day moving average of $18.59 and a 200-day moving average of $19.53. Kenvue Inc. has a 52-week low of $17.67 and a 52-week high of $24.43.

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

Kenvue Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 28th. Stockholders of record on Wednesday, August 14th will be given a dividend of $0.205 per share. The ex-dividend date is Wednesday, August 14th. This is an increase from Kenvue’s previous quarterly dividend of $0.20. This represents a $0.82 dividend on an annualized basis and a dividend yield of 4.36%. Kenvue’s payout ratio is currently 102.56%.

Kenvue Company 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.