State of Alaska Department of Revenue Sells 13,170 Shares of Kenvue Inc. (NYSE:KVUE)

State of Alaska Department of Revenue lowered its position in Kenvue Inc. (NYSE:KVUE) by 5.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 247,055 shares of the company’s stock after selling 13,170 shares during the quarter. State of Alaska Department of Revenue’s holdings in Kenvue were worth $5,713,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Kenvue by 12.0% during the first quarter. Vanguard Group Inc. now owns 166,789,085 shares of the company’s stock valued at $3,579,294,000 after acquiring an additional 17,908,497 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Kenvue by 23.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 134,565,333 shares of the company’s stock worth $2,887,773,000 after buying an additional 25,238,112 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in Kenvue by 9.6% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 79,863,967 shares of the company’s stock worth $1,451,927,000 after buying an additional 7,023,047 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Kenvue by 11.1% in the first quarter. JPMorgan Chase & Co. now owns 68,319,998 shares of the company’s stock valued at $1,466,147,000 after buying an additional 6,825,611 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in shares of Kenvue by 21.0% in the second quarter. Bank of New York Mellon Corp now owns 43,444,085 shares of the company’s stock valued at $789,813,000 after buying an additional 7,546,362 shares during the period. 97.64% of the stock is currently owned by institutional investors and hedge funds.

Kenvue Stock Performance

Shares of Kenvue stock opened at $22.88 on Tuesday. The business has a 50-day simple moving average of $22.41 and a 200 day simple moving average of $20.29. Kenvue Inc. has a one year low of $17.67 and a one year high of $23.55. 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 firm has a market capitalization of $43.81 billion, a price-to-earnings ratio of 29.33, a PEG ratio of 3.00 and a beta of 1.40.

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

Kenvue Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th will be paid a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a dividend yield of 3.58%. The ex-dividend date is Wednesday, November 13th. Kenvue’s dividend payout ratio (DPR) is 105.13%.

Wall Street Analysts Forecast Growth

KVUE has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft upped their target price on Kenvue from $23.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. Royal Bank of Canada cut shares of Kenvue from an “outperform” rating to a “sector perform” rating and set a $24.00 price objective for the company. in a research report on Tuesday, September 24th. Bank of America lifted their target price on shares of Kenvue from $24.00 to $27.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Piper Sandler upped their price target on shares of Kenvue from $20.00 to $21.00 and gave the company a “neutral” rating in a research report on Monday, September 23rd. Finally, JPMorgan Chase & Co. boosted their price objective on Kenvue from $24.00 to $25.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $22.64.

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.