Kentucky Retirement Systems Insurance Trust Fund Boosts Holdings in Kenvue Inc. (NYSE:KVUE)

Kentucky Retirement Systems Insurance Trust Fund increased its holdings in shares of Kenvue Inc. (NYSE:KVUE) by 2.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 56,703 shares of the company’s stock after buying an additional 1,114 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Kenvue were worth $1,312,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in KVUE. Riverview Trust Co purchased a new position in shares of Kenvue in the 3rd quarter valued at about $30,000. Ashton Thomas Securities LLC acquired a new stake in Kenvue in the third quarter valued at approximately $35,000. Studio Investment Management LLC lifted its stake in Kenvue by 52.1% in the second quarter. Studio Investment Management LLC now owns 2,468 shares of the company’s stock worth $45,000 after acquiring an additional 845 shares during the last quarter. Deseret Mutual Benefit Administrators grew its holdings in Kenvue by 49.7% during the 3rd quarter. Deseret Mutual Benefit Administrators now owns 1,960 shares of the company’s stock worth $45,000 after acquiring an additional 651 shares in the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new stake in shares of Kenvue in the 2nd quarter valued at approximately $61,000. Hedge funds and other institutional investors own 97.64% of the company’s stock.

Kenvue Stock Performance

Shares of Kenvue stock opened at $23.82 on Friday. The firm’s fifty day simple moving average is $22.77 and its 200-day simple moving average is $20.69. Kenvue Inc. has a 12 month low of $17.67 and a 12 month high of $24.13. The stock has a market capitalization of $45.67 billion, a price-to-earnings ratio of 43.31, a PEG ratio of 2.16 and a beta of 1.36. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.00 and a quick ratio of 0.69.

Kenvue (NYSE:KVUE) last posted its quarterly earnings data on Thursday, November 7th. The company reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.01. Kenvue had a net margin of 6.88% and a return on equity of 21.43%. The company had revenue of $3.90 billion for the quarter, compared to analyst estimates of $3.92 billion. During the same period in the previous year, the business posted $0.31 earnings per share. Kenvue’s quarterly revenue was down .4% on a year-over-year basis. As a group, equities analysts forecast that Kenvue Inc. will post 1.07 earnings per share for the current year.

Kenvue Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th will be given a dividend of $0.205 per share. The ex-dividend date is Wednesday, November 13th. This represents a $0.82 dividend on an annualized basis and a yield of 3.44%. Kenvue’s payout ratio is 149.09%.

Analyst Upgrades and Downgrades

KVUE has been the subject of a number of analyst reports. Royal Bank of Canada downgraded shares of Kenvue from an “outperform” rating to a “sector perform” rating and set a $24.00 target price for the company. in a research note on Tuesday, September 24th. Piper Sandler upped their price objective on Kenvue from $20.00 to $21.00 and gave the stock a “neutral” rating in a research report on Monday, September 23rd. JPMorgan Chase & Co. increased their price objective on Kenvue from $24.00 to $25.00 and gave the company an “overweight” rating in a report on Friday, October 11th. Bank of America boosted their target price on Kenvue from $24.00 to $27.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Finally, UBS Group raised their price objective on shares of Kenvue from $20.00 to $22.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Kenvue has a consensus rating of “Hold” and a consensus price target of $22.64.

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.