Kentucky Retirement Systems Sells 1,813 Shares of Kenvue Inc. (NYSE:KVUE)

Kentucky Retirement Systems trimmed its position in shares of Kenvue Inc. (NYSE:KVUE) by 1.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 131,608 shares of the company’s stock after selling 1,813 shares during the period. Kentucky Retirement Systems’ holdings in Kenvue were worth $2,810,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of KVUE. FMR LLC increased its holdings in Kenvue by 2.3% during the 3rd quarter. FMR LLC now owns 137,915,493 shares of the company’s stock valued at $3,189,985,000 after purchasing an additional 3,075,019 shares during the period. State Street Corp lifted its holdings in Kenvue by 16.8% in the 3rd quarter. State Street Corp now owns 127,213,940 shares of the company’s stock worth $2,942,458,000 after buying an additional 18,283,473 shares during the period. Massachusetts Financial Services Co. MA grew its position in shares of Kenvue by 8.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 86,979,341 shares of the company’s stock worth $2,011,832,000 after buying an additional 7,115,374 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Kenvue by 0.9% during the third quarter. Geode Capital Management LLC now owns 44,677,077 shares of the company’s stock valued at $1,029,810,000 after buying an additional 399,846 shares during the period. Finally, Harris Associates L P raised its holdings in shares of Kenvue by 7.5% during the third quarter. Harris Associates L P now owns 31,459,511 shares of the company’s stock valued at $727,658,000 after acquiring an additional 2,186,114 shares in the last quarter. 97.64% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on KVUE shares. Citigroup cut their price target on shares of Kenvue from $25.00 to $21.00 and set a “neutral” rating on the stock in a report on Wednesday, January 15th. Canaccord Genuity Group dropped their target price on shares of Kenvue from $27.00 to $24.00 and set a “buy” rating for the company in a research report on Friday, February 7th. Deutsche Bank Aktiengesellschaft cut shares of Kenvue from a “buy” rating to a “hold” rating and reduced their price target for the company from $25.00 to $24.00 in a research report on Thursday, December 12th. Barclays lowered their price objective on shares of Kenvue from $23.00 to $21.00 and set an “equal weight” rating for the company in a report on Friday, January 17th. Finally, Piper Sandler upgraded Kenvue from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $21.00 to $26.00 in a report on Monday, January 6th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $23.00.

Kenvue Stock Performance

Shares of KVUE opened at $23.31 on Friday. 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 cap of $44.68 billion, a P/E ratio of 43.97, a P/E/G ratio of 2.61 and a beta of 1.45. The business’s 50 day moving average price is $21.29 and its 200-day moving average price is $22.14. Kenvue Inc. has a 52 week low of $17.67 and a 52 week high of $24.46.

Kenvue (NYSE:KVUE) last announced its quarterly earnings data on Thursday, February 6th. The company reported $0.26 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.26. Kenvue had a return on equity of 20.97% and a net margin of 6.66%. Equities research analysts anticipate that Kenvue Inc. will post 1.14 earnings per share for the current fiscal year.

Kenvue Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th will be paid a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a yield of 3.52%. The ex-dividend date is Wednesday, February 12th. Kenvue’s payout ratio is 154.72%.

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.