Louisiana State Employees Retirement System Sells 4,700 Shares of Kenvue Inc. (NYSE:KVUE)

Louisiana State Employees Retirement System cut its holdings in shares of Kenvue Inc. (NYSE:KVUE) by 4.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 103,100 shares of the company’s stock after selling 4,700 shares during the period. Louisiana State Employees Retirement System’s holdings in Kenvue were worth $2,201,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the business. FMR LLC grew its position in Kenvue by 2.3% during 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. State Street Corp lifted its holdings 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 buying an additional 18,283,473 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in Kenvue by 8.9% during the 3rd 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 lifted its holdings in Kenvue by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 44,677,077 shares of the company’s stock worth $1,029,810,000 after buying an additional 399,846 shares in the last quarter. Finally, Harris Associates L P lifted its holdings in Kenvue by 7.5% during the 3rd 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. 97.64% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have issued reports on KVUE. Piper Sandler raised Kenvue from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $21.00 to $26.00 in a report on Monday, January 6th. Bank of America upped their price objective on Kenvue from $24.00 to $27.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Barclays reduced their price objective on Kenvue from $23.00 to $21.00 and set an “equal weight” rating on the stock in a report on Friday, January 17th. Canaccord Genuity Group cut their price target on Kenvue from $27.00 to $24.00 and set a “buy” rating on the stock in a research note on Friday, February 7th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $24.00 price target on shares of Kenvue in a research note on Monday, February 3rd. One 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $23.00.

Kenvue Price Performance

KVUE stock opened at $21.94 on Friday. The stock has a 50-day moving average price of $21.33 and a two-hundred day moving average price of $22.02. The stock has a market cap of $42.07 billion, a PE ratio of 41.40, a price-to-earnings-growth ratio of 2.16 and a beta of 1.45. The company has a current ratio of 1.00, a quick ratio of 0.69 and a debt-to-equity ratio of 0.66. Kenvue Inc. has a 1 year low of $17.67 and a 1 year high of $24.46.

Kenvue (NYSE:KVUE) last announced its quarterly earnings data 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%. Equities analysts forecast that Kenvue Inc. will post 1.05 EPS for the current fiscal 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 issued a $0.205 dividend. This represents a $0.82 annualized dividend and a dividend yield of 3.74%. The ex-dividend date of this dividend is Wednesday, February 12th. Kenvue’s payout ratio is 154.72%.

Kenvue Profile

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.