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

Texas Permanent School Fund Corp decreased its position in shares of Kenvue Inc. (NYSE:KVUE) by 11.1% during the second quarter, HoldingsChannel reports. The firm owned 316,723 shares of the company’s stock after selling 39,539 shares during the period. Texas Permanent School Fund Corp’s holdings in Kenvue were worth $5,758,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in KVUE. Private Advisor Group LLC raised its position in Kenvue by 30.1% during the fourth quarter. Private Advisor Group LLC now owns 55,529 shares of the company’s stock valued at $1,196,000 after purchasing an additional 12,851 shares in the last quarter. Principal Securities Inc. purchased a new position in shares of Kenvue in the fourth quarter worth about $112,000. NBC Securities Inc. increased its holdings in shares of Kenvue by 113.7% in the fourth quarter. NBC Securities Inc. now owns 10,422 shares of the company’s stock worth $224,000 after buying an additional 5,546 shares during the period. Envestnet Portfolio Solutions Inc. increased its holdings in shares of Kenvue by 101.1% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 149,395 shares of the company’s stock worth $3,216,000 after buying an additional 75,096 shares during the period. Finally, Janney Montgomery Scott LLC increased its holdings in shares of Kenvue by 12.6% in the fourth quarter. Janney Montgomery Scott LLC now owns 1,178,209 shares of the company’s stock worth $25,366,000 after buying an additional 132,101 shares during the period. Hedge funds and other institutional investors own 97.64% of the company’s stock.

Kenvue Stock Down 0.0 %

NYSE KVUE opened at $23.08 on Friday. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.99 and a quick ratio of 0.68. The stock has a market capitalization of $44.19 billion, a PE ratio of 29.59, a PEG ratio of 2.89 and a beta of 1.40. Kenvue Inc. has a 1 year low of $17.67 and a 1 year high of $23.47. The business’s 50-day moving average is $20.31 and its 200 day moving average is $19.78.

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

Kenvue Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 28th. Shareholders of record on Wednesday, August 14th were given a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a yield of 3.55%. This is a boost from Kenvue’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Wednesday, August 14th. Kenvue’s payout ratio is presently 105.13%.

Analyst Ratings Changes

KVUE has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft lifted their price objective on Kenvue from $23.00 to $24.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. UBS Group lifted their price objective on Kenvue from $20.00 to $22.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Royal Bank of Canada reiterated an “outperform” rating and issued a $24.00 price objective on shares of Kenvue in a report on Wednesday, August 7th. JPMorgan Chase & Co. lifted their price objective on Kenvue from $22.00 to $24.00 and gave the stock an “overweight” rating in a report on Wednesday, August 7th. Finally, Citigroup cut their target price on Kenvue from $21.00 to $20.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Kenvue has an average rating of “Hold” and an average price target 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.