Kentucky Retirement Systems Trims Holdings in Kenvue Inc. (NYSE:KVUE)

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

A number of other institutional investors have also added to or reduced their stakes in the stock. FMR LLC boosted its holdings in Kenvue by 2.3% in 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 raised its position in shares of Kenvue by 16.8% in the third 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 in the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of Kenvue by 8.9% in the third 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 in the last quarter. Geode Capital Management LLC boosted its stake in 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 grew its position in Kenvue by 7.5% during the third quarter. Harris Associates L P now owns 31,459,511 shares of the company’s stock worth $727,658,000 after buying an additional 2,186,114 shares in the last quarter. Hedge funds and other institutional investors own 97.64% of the company’s stock.

Kenvue Price Performance

KVUE stock opened at $23.31 on Friday. The firm 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 firm’s fifty day moving average is $21.29 and its 200 day moving average is $22.14. Kenvue Inc. has a 52 week low of $17.67 and a 52 week high of $24.46. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.69 and a current ratio of 1.00.

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%. Research analysts predict that Kenvue Inc. will post 1.14 earnings per share for the current year.

Kenvue Announces Dividend

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

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. UBS Group lowered their price target on Kenvue from $23.00 to $21.00 and set a “neutral” rating on the stock in a report on Friday, February 7th. Deutsche Bank Aktiengesellschaft downgraded shares of Kenvue from a “buy” rating to a “hold” rating and lowered their target price for the company from $25.00 to $24.00 in a research note on Thursday, December 12th. Royal Bank of Canada reiterated a “sector perform” rating and set a $24.00 target price on shares of Kenvue in a research report on Monday, February 3rd. Citigroup decreased 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. Finally, Canaccord Genuity Group dropped their price objective on shares of Kenvue from $27.00 to $24.00 and set a “buy” rating for the company in a report on Friday, February 7th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average 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.