Teachers Retirement System of The State of Kentucky Acquires New Holdings in Kenvue Inc. (NYSE:KVUE)

Teachers Retirement System of The State of Kentucky acquired a new stake in shares of Kenvue Inc. (NYSE:KVUE) during the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 148,027 shares of the company’s stock, valued at approximately $3,187,000.

Other institutional investors also recently added to or reduced their stakes in the company. Stephens Inc. AR boosted its position in 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 purchasing an additional 26,700 shares in the last quarter. Stifel Financial Corp boosted its position 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 in the last quarter. Fifth Third Bancorp boosted its position in Kenvue by 35.3% during the fourth quarter. Fifth Third Bancorp now owns 277,580 shares of the company’s stock valued at $5,976,000 after purchasing an additional 72,435 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Kenvue by 2.6% in the fourth quarter. The Manufacturers Life Insurance Company now owns 1,598,567 shares of the company’s stock worth $34,417,000 after acquiring an additional 40,995 shares in the last quarter. Finally, PineStone Asset Management Inc. boosted its holdings in Kenvue by 23.9% in the fourth quarter. PineStone Asset Management Inc. now owns 3,803,846 shares of the company’s stock worth $81,897,000 after acquiring an additional 732,616 shares in the last quarter. Institutional investors own 97.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on KVUE shares. The Goldman Sachs Group started coverage on Kenvue in a report on Friday, March 1st. They issued a “neutral” rating and a $20.00 price target for the company. Sanford C. Bernstein started coverage on Kenvue in a report on Thursday, April 11th. They issued an “underperform” rating and a $18.00 price target for the company. HSBC raised their price target on Kenvue from $20.00 to $21.00 and gave the stock a “hold” rating in a report on Wednesday, May 8th. Citigroup reissued a “neutral” rating and issued a $21.00 price target on shares of Kenvue in a report on Tuesday, May 28th. Finally, William Blair started coverage on Kenvue in a report on Wednesday, April 3rd. They issued a “market perform” rating for the company. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $23.09.

Kenvue Stock Down 1.5 %

Shares of KVUE stock opened at $18.52 on Wednesday. The stock has a 50 day moving average of $19.33 and a 200 day moving average of $20.08. The company has a current ratio of 0.99, a quick ratio of 0.68 and a debt-to-equity ratio of 0.66. The stock has a market cap of $35.45 billion and a P/E ratio of 23.74. Kenvue Inc. has a twelve month low of $17.75 and a twelve month high of $26.74.

Kenvue (NYSE:KVUE) last announced its quarterly earnings results on Tuesday, May 7th. The company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.03. The company had revenue of $2.89 billion during the quarter, compared to analysts’ expectations of $3.79 billion. Kenvue had a return on equity of 21.06% and a net margin of 9.63%. The firm’s quarterly revenue was down 24.9% on a year-over-year basis. As a group, sell-side analysts expect that Kenvue Inc. will post 1.18 EPS for the current year.

Kenvue Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 22nd. Investors of record on Wednesday, May 8th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 4.32%. The ex-dividend date of this dividend was Tuesday, May 7th. Kenvue’s dividend payout ratio is currently 102.56%.

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.