Texas Permanent School Fund Corp Decreases Stock Holdings in Kenvue Inc. (NYSE:KVUE)

Texas Permanent School Fund Corp trimmed its holdings in shares of Kenvue Inc. (NYSE:KVUE) by 11.1% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 316,723 shares of the company’s stock after selling 39,539 shares during the quarter. Texas Permanent School Fund Corp’s holdings in Kenvue were worth $5,758,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Stephens Inc. AR increased its position in shares of Kenvue by 86.1% during the fourth quarter. Stephens Inc. AR now owns 57,694 shares of the company’s stock valued at $1,242,000 after acquiring an additional 26,700 shares during the last quarter. Stifel Financial Corp grew its holdings in Kenvue by 60.4% during the fourth quarter. Stifel Financial Corp now owns 745,064 shares of the company’s stock valued at $16,041,000 after purchasing an additional 280,591 shares during the period. Raleigh Capital Management Inc. grew its holdings in Kenvue by 93,834.8% during the fourth quarter. Raleigh Capital Management Inc. now owns 43,210 shares of the company’s stock valued at $930,000 after purchasing an additional 43,164 shares during the period. The Manufacturers Life Insurance Company grew its holdings in Kenvue by 2.6% during the fourth quarter. The Manufacturers Life Insurance Company now owns 1,598,567 shares of the company’s stock valued at $34,417,000 after purchasing an additional 40,995 shares during the period. Finally, Cornerstone Wealth Group LLC grew its holdings in Kenvue by 176.2% during the first quarter. Cornerstone Wealth Group LLC now owns 350,371 shares of the company’s stock valued at $7,519,000 after purchasing an additional 223,537 shares during the period. 97.64% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have weighed in on KVUE. UBS Group increased their price objective on Kenvue from $20.00 to $22.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Royal Bank of Canada reissued an “outperform” rating and set a $24.00 price objective on shares of Kenvue in a report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft increased their price objective on Kenvue from $23.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. Citigroup reduced their price objective on Kenvue from $21.00 to $20.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. Finally, JPMorgan Chase & Co. raised their price target on Kenvue from $22.00 to $24.00 and gave the stock an “overweight” rating in a report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $21.44.

Kenvue Price Performance

NYSE:KVUE opened at $23.08 on Friday. The firm has a market capitalization of $44.19 billion, a price-to-earnings ratio of 29.59, a P/E/G ratio of 2.89 and a beta of 1.40. Kenvue Inc. has a 52-week low of $17.67 and a 52-week high of $23.47. The stock has a fifty day moving average of $20.31 and a 200 day moving average of $19.78. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.68 and a current ratio of 0.99.

Kenvue (NYSE:KVUE) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.04. The company had revenue of $4 billion during the quarter, compared to analyst estimates of $3.93 billion. Kenvue had a return on equity of 21.80% and a net margin of 7.23%. The firm’s quarterly revenue was down .3% on a year-over-year basis. During the same quarter last year, the company earned $0.32 earnings per share. On average, research analysts expect that Kenvue Inc. will post 1.08 EPS for the current fiscal year.

Kenvue Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 28th. Investors of record on Wednesday, August 14th were paid a dividend of $0.205 per share. This is a positive change from Kenvue’s previous quarterly dividend of $0.20. The ex-dividend date was Wednesday, August 14th. This represents a $0.82 annualized dividend and a yield of 3.55%. Kenvue’s dividend payout ratio (DPR) is currently 105.13%.

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.