Kenvue Inc. (NYSE:KVUE) Stake Reduced by New York State Teachers Retirement System

New York State Teachers Retirement System decreased its holdings in shares of Kenvue Inc. (NYSE:KVUE) by 2.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,493,206 shares of the company’s stock after selling 40,748 shares during the period. New York State Teachers Retirement System owned approximately 0.08% of Kenvue worth $27,146,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Stephens Inc. AR increased its stake in Kenvue by 86.1% in the 4th quarter. Stephens Inc. AR now owns 57,694 shares of the company’s stock worth $1,242,000 after purchasing an additional 26,700 shares in the last quarter. Stifel Financial Corp increased its position in shares of Kenvue by 60.4% in the fourth quarter. Stifel Financial Corp now owns 745,064 shares of the company’s stock worth $16,041,000 after acquiring an additional 280,591 shares in the last quarter. Raleigh Capital Management Inc. raised its holdings in shares of Kenvue by 93,834.8% during the fourth quarter. Raleigh Capital Management Inc. now owns 43,210 shares of the company’s stock valued at $930,000 after acquiring an additional 43,164 shares during the period. The Manufacturers Life Insurance Company lifted its position in shares of Kenvue by 2.6% in the 4th quarter. The Manufacturers Life Insurance Company now owns 1,598,567 shares of the company’s stock valued at $34,417,000 after acquiring an additional 40,995 shares in the last quarter. Finally, Cornerstone Wealth Group LLC grew its position in Kenvue by 176.2% during the 1st quarter. Cornerstone Wealth Group LLC now owns 350,371 shares of the company’s stock worth $7,519,000 after purchasing an additional 223,537 shares in the last quarter. Institutional investors and hedge funds own 97.64% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. HSBC lifted their price target on Kenvue from $20.00 to $21.00 and gave the company a “hold” rating in a report on Wednesday, May 8th. JPMorgan Chase & Co. boosted their price objective on shares of Kenvue from $22.00 to $24.00 and gave the company an “overweight” rating in a research report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft increased 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. Citigroup dropped their price target on shares of Kenvue from $21.00 to $20.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $24.00 price objective on shares of Kenvue in a research report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $22.64.

Kenvue Stock Up 1.2 %

Shares of Kenvue stock opened at $21.82 on Friday. Kenvue Inc. has a 12-month low of $17.67 and a 12-month high of $24.10. 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 stock has a 50 day moving average price of $19.21 and a two-hundred day moving average price of $19.49. The stock has a market capitalization of $41.78 billion, a P/E ratio of 27.97, a PEG ratio of 2.07 and a beta of 1.38.

Kenvue (NYSE:KVUE) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.04. Kenvue had a net margin of 9.63% and a return on equity of 21.06%. The business had revenue of $4 billion during the quarter, compared to analysts’ expectations of $3.93 billion. During the same period in the previous year, the company earned $0.32 earnings per share. Kenvue’s revenue for the quarter was down .3% on a year-over-year basis. Equities analysts expect that Kenvue Inc. will post 1.13 earnings per share for the current year.

Kenvue Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 28th. Stockholders of record on Wednesday, August 14th will be paid a $0.205 dividend. The ex-dividend date is Wednesday, August 14th. This is a positive change from Kenvue’s previous quarterly dividend of $0.20. This represents a $0.82 dividend on an annualized basis and a dividend yield of 3.76%. Kenvue’s payout ratio is presently 105.13%.

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.