Kenvue Inc. (NYSE:KVUE) Shares Sold by State of Michigan Retirement System

State of Michigan Retirement System lessened its holdings in shares of Kenvue Inc. (NYSE:KVUE) by 0.2% in the 4th quarter, HoldingsChannel.com reports. The firm owned 520,339 shares of the company’s stock after selling 1,200 shares during the quarter. State of Michigan Retirement System’s holdings in Kenvue were worth $11,109,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. State Street Corp grew its position in Kenvue by 16.8% during the 3rd quarter. State Street Corp now owns 127,213,940 shares of the company’s stock worth $2,942,458,000 after purchasing an additional 18,283,473 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of Kenvue by 8.9% during 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 during the period. Holocene Advisors LP grew its holdings in shares of Kenvue by 75.5% during the third quarter. Holocene Advisors LP now owns 13,886,454 shares of the company’s stock valued at $321,194,000 after buying an additional 5,975,392 shares during the last quarter. M&G PLC increased its position in shares of Kenvue by 538.0% in the 3rd quarter. M&G PLC now owns 4,341,172 shares of the company’s stock valued at $99,847,000 after acquiring an additional 3,660,730 shares during the period. Finally, FMR LLC raised its stake in Kenvue by 2.3% in the 3rd quarter. FMR LLC now owns 137,915,493 shares of the company’s stock worth $3,189,985,000 after acquiring an additional 3,075,019 shares during the last quarter. Institutional investors and hedge funds own 97.64% of the company’s stock.

Kenvue Stock Down 1.6 %

KVUE opened at $23.05 on Thursday. The company has a fifty day moving average of $21.57 and a two-hundred day moving average of $22.30. The stock has a market capitalization of $44.04 billion, a price-to-earnings ratio of 43.48, a PEG ratio of 2.62 and a beta of 1.45. Kenvue Inc. has a fifty-two week low of $17.67 and a fifty-two 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 results on Thursday, February 6th. The company reported $0.26 earnings per share for the quarter, meeting the consensus estimate of $0.26. Kenvue had a return on equity of 20.97% and a net margin of 6.66%. On average, research analysts expect 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 was paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th were issued a $0.205 dividend. This represents a $0.82 annualized dividend and a yield of 3.56%. The ex-dividend date of this dividend was Wednesday, February 12th. Kenvue’s payout ratio is presently 154.72%.

Analysts Set New Price Targets

Several research firms have weighed in on KVUE. Royal Bank of Canada reiterated a “sector perform” rating and set a $24.00 price target on shares of Kenvue in a research note on Monday, February 3rd. UBS Group dropped their target price on Kenvue from $23.00 to $21.00 and set a “neutral” rating on the stock in a research report on Friday, February 7th. Deutsche Bank Aktiengesellschaft lowered shares of Kenvue from a “buy” rating to a “hold” rating and reduced their price target for the stock from $25.00 to $24.00 in a research report on Thursday, December 12th. Citigroup dropped their price objective 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, Piper Sandler raised their target price on shares of Kenvue from $24.00 to $27.00 and gave the stock an “overweight” rating in a report on Monday, February 24th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company 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.