Kentucky Retirement Systems Lowers Holdings in Kenvue Inc. (NYSE:KVUE)

Kentucky Retirement Systems reduced its stake in shares of Kenvue Inc. (NYSE:KVUE) by 0.8% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 129,873 shares of the company’s stock after selling 1,014 shares during the period. Kentucky Retirement Systems’ holdings in Kenvue were worth $2,361,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of KVUE. Elo Mutual Pension Insurance Co raised its position in Kenvue by 13.0% during the second quarter. Elo Mutual Pension Insurance Co now owns 161,275 shares of the company’s stock valued at $2,932,000 after acquiring an additional 18,498 shares in the last quarter. Mondrian Investment Partners LTD grew its stake in shares of Kenvue by 20.8% during the 2nd quarter. Mondrian Investment Partners LTD now owns 6,733,023 shares of the company’s stock worth $124,494,000 after purchasing an additional 1,159,034 shares during the period. Amalgamated Bank increased its holdings in shares of Kenvue by 6.2% during the 2nd quarter. Amalgamated Bank now owns 386,739 shares of the company’s stock valued at $7,031,000 after purchasing an additional 22,605 shares in the last quarter. Tredje AP fonden lifted its stake in shares of Kenvue by 152.2% in the 2nd quarter. Tredje AP fonden now owns 194,553 shares of the company’s stock valued at $3,537,000 after purchasing an additional 117,400 shares during the period. Finally, Meiji Yasuda Asset Management Co Ltd. boosted its holdings in Kenvue by 19.3% during the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 64,465 shares of the company’s stock worth $1,172,000 after buying an additional 10,425 shares in the last quarter. Hedge funds and other institutional investors own 97.64% of the company’s stock.

Kenvue Price Performance

Kenvue stock opened at $23.02 on Friday. The company has a fifty day simple moving average of $20.92 and a 200-day simple moving average of $19.96. The firm has a market capitalization of $44.08 billion, a price-to-earnings ratio of 29.51, a PEG ratio of 2.92 and a beta of 1.40. The company has a quick ratio of 0.68, a current ratio of 0.99 and a debt-to-equity ratio of 0.69. Kenvue Inc. has a 52-week low of $17.67 and a 52-week high of $23.55.

Kenvue (NYSE:KVUE) last announced 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. Kenvue had a net margin of 7.23% and a return on equity of 21.80%. The company had revenue of $4 billion during the quarter, compared to analysts’ expectations of $3.93 billion. During the same quarter in the prior year, the company earned $0.32 EPS. Kenvue’s revenue was down .3% compared to the same quarter last year. On average, equities analysts anticipate that Kenvue Inc. will post 1.08 EPS for the current fiscal year.

Kenvue Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 28th. Shareholders of record on Wednesday, August 14th were issued a $0.205 dividend. This is a boost from Kenvue’s previous quarterly dividend of $0.20. This represents a $0.82 annualized dividend and a yield of 3.56%. The ex-dividend date of this dividend was Wednesday, August 14th. Kenvue’s dividend payout ratio is presently 105.13%.

Wall Street Analysts Forecast Growth

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

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.