New York State Common Retirement Fund Increases Stock Position in Kenvue Inc. (NYSE:KVUE)

New York State Common Retirement Fund raised its position in shares of Kenvue Inc. (NYSE:KVUE) by 26.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,811,743 shares of the company’s stock after buying an additional 585,420 shares during the quarter. New York State Common Retirement Fund owned about 0.15% of Kenvue worth $60,031,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Grove Bank & Trust increased its holdings in shares of Kenvue by 438.4% during the fourth quarter. Grove Bank & Trust now owns 1,163 shares of the company’s stock valued at $25,000 after acquiring an additional 947 shares in the last quarter. Geneos Wealth Management Inc. bought a new position in shares of Kenvue during the fourth quarter valued at $29,000. Ashton Thomas Securities LLC bought a new position in shares of Kenvue during the third quarter valued at $35,000. Fortitude Family Office LLC increased its holdings in shares of Kenvue by 106.6% during the fourth quarter. Fortitude Family Office LLC now owns 1,506 shares of the company’s stock valued at $32,000 after acquiring an additional 777 shares in the last quarter. Finally, Versant Capital Management Inc increased its holdings in shares of Kenvue by 300.8% during the fourth quarter. Versant Capital Management Inc now owns 1,920 shares of the company’s stock valued at $41,000 after acquiring an additional 1,441 shares in the last quarter. 97.64% of the stock is currently owned by institutional investors.

Kenvue Stock Up 1.2 %

KVUE stock opened at $22.26 on Thursday. Kenvue Inc. has a twelve month low of $17.67 and a twelve month high of $24.46. 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 $42.68 billion, a P/E ratio of 42.00, a PEG ratio of 2.57 and a beta of 1.45. The business’s 50-day moving average price is $21.28 and its 200-day moving average price is $22.14.

Kenvue (NYSE:KVUE) last posted its quarterly earnings data on Thursday, February 6th. The company reported $0.26 earnings per share 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%. On average, equities research analysts forecast that Kenvue Inc. will post 1.14 EPS for the current year.

Kenvue Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th will be given a dividend of $0.205 per share. The ex-dividend date of this dividend is Wednesday, February 12th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 3.68%. Kenvue’s payout ratio is currently 154.72%.

Analyst Ratings Changes

KVUE has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft downgraded Kenvue from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $25.00 to $24.00 in a report on Thursday, December 12th. Canaccord Genuity Group reduced their price objective on Kenvue from $27.00 to $24.00 and set a “buy” rating for the company in a report on Friday, February 7th. UBS Group reduced their price objective on Kenvue from $23.00 to $21.00 and set a “neutral” rating for the company in a report on Friday, February 7th. Citigroup reduced their price objective on Kenvue from $25.00 to $21.00 and set a “neutral” rating for the company in a report on Wednesday, January 15th. Finally, Barclays reduced their price objective on Kenvue from $23.00 to $21.00 and set an “equal weight” rating for the company in a report on Friday, January 17th. 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’s stock. According to data from MarketBeat.com, Kenvue currently has a consensus rating of “Hold” and a consensus target price of $23.00.

About Kenvue

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.