Vestcor Inc Sells 5,606 Shares of Kenvue Inc. (NYSE:KVUE)

Vestcor Inc trimmed its holdings in Kenvue Inc. (NYSE:KVUE) by 14.4% during the fourth quarter, Holdings Channel reports. The institutional investor owned 33,225 shares of the company’s stock after selling 5,606 shares during the quarter. Vestcor Inc’s holdings in Kenvue were worth $709,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in KVUE. Grove Bank & Trust lifted its stake in shares of Kenvue by 438.4% in the fourth quarter. Grove Bank & Trust now owns 1,163 shares of the company’s stock valued at $25,000 after buying an additional 947 shares in the last quarter. Geneos Wealth Management Inc. purchased a new stake in shares of Kenvue in the fourth quarter valued at about $29,000. SRS Capital Advisors Inc. raised its holdings in shares of Kenvue by 67.4% in the fourth quarter. SRS Capital Advisors Inc. now owns 1,418 shares of the company’s stock valued at $30,000 after purchasing an additional 571 shares during the last quarter. Fortitude Family Office LLC raised its holdings in shares of Kenvue by 106.6% in the fourth quarter. Fortitude Family Office LLC now owns 1,506 shares of the company’s stock valued at $32,000 after purchasing an additional 777 shares during the last quarter. Finally, Versant Capital Management Inc raised its holdings in shares of Kenvue by 300.8% in the fourth quarter. Versant Capital Management Inc now owns 1,920 shares of the company’s stock valued at $41,000 after purchasing an additional 1,441 shares during the last quarter. 97.64% of the stock is owned by institutional investors.

Kenvue Price Performance

Shares of NYSE:KVUE opened at $22.81 on Monday. 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 firm has a market capitalization of $43.59 billion, a PE ratio of 43.03, a P/E/G ratio of 2.62 and a beta of 1.25. Kenvue Inc. has a twelve month low of $17.67 and a twelve month high of $24.46. The company has a 50-day moving average price of $21.84 and a two-hundred day moving average price of $22.39.

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

Kenvue Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th were given a dividend of $0.205 per share. The ex-dividend date of this dividend was Wednesday, February 12th. This represents a $0.82 dividend on an annualized basis and a yield of 3.60%. Kenvue’s dividend payout ratio is presently 154.72%.

Analyst Ratings Changes

Several analysts have recently commented on KVUE shares. Piper Sandler increased their target price on shares of Kenvue from $24.00 to $27.00 and gave the company an “overweight” rating in a report on Monday, February 24th. Citigroup lowered their target price on shares of Kenvue from $25.00 to $21.00 and set a “neutral” rating for the company in a report on Wednesday, January 15th. 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 report on Thursday, December 12th. Canaccord Genuity Group increased their target price on shares of Kenvue from $24.00 to $29.00 and gave the company a “buy” rating in a report on Wednesday, March 5th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $24.00 price objective on shares of Kenvue in a report on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Kenvue presently has an average rating of “Hold” and an average price target of $23.75.

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.