New York State Teachers Retirement System Raises Stock Position in Kenvue Inc. (NYSE:KVUE)

New York State Teachers Retirement System increased its stake in Kenvue Inc. (NYSE:KVUE) by 0.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,506,343 shares of the company’s stock after purchasing an additional 13,137 shares during the quarter. New York State Teachers Retirement System owned 0.08% of Kenvue worth $34,842,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Manchester Capital Management LLC raised its position in Kenvue by 80.8% in the first quarter. Manchester Capital Management LLC now owns 1,186 shares of the company’s stock worth $25,000 after acquiring an additional 530 shares during the period. Riverview Trust Co bought a new position in Kenvue in the third quarter worth approximately $30,000. Salomon & Ludwin LLC bought a new position in Kenvue in the first quarter worth approximately $33,000. Studio Investment Management LLC raised its position in Kenvue by 52.1% in the second quarter. Studio Investment Management LLC now owns 2,468 shares of the company’s stock worth $45,000 after acquiring an additional 845 shares during the period. Finally, AlphaMark Advisors LLC bought a new position in Kenvue in the third quarter worth approximately $77,000. Hedge funds and other institutional investors own 97.64% of the company’s stock.

Analyst Ratings Changes

KVUE has been the topic of several recent research reports. Royal Bank of Canada downgraded shares of Kenvue from an “outperform” rating to a “sector perform” rating and set a $24.00 price target on the stock. in a research report on Tuesday, September 24th. UBS Group raised their price objective on shares of Kenvue from $20.00 to $22.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Bank of America raised their price objective on shares of Kenvue from $24.00 to $27.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Jefferies Financial Group assumed coverage on shares of Kenvue in a research report on Tuesday, September 24th. They set a “buy” rating and a $27.00 price objective on the stock. Finally, JPMorgan Chase & Co. raised their price objective on shares of Kenvue from $24.00 to $25.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Kenvue has an average rating of “Hold” and a consensus price target of $22.64.

Kenvue Stock Performance

Shares of NYSE KVUE opened at $22.93 on Friday. Kenvue Inc. has a 52-week low of $17.67 and a 52-week high of $23.55. The company has a market cap of $43.91 billion, a P/E ratio of 39.53, a P/E/G ratio of 3.00 and a beta of 1.40. The firm’s fifty day moving average is $22.51 and its two-hundred day moving average is $20.38. 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 issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.04. Kenvue had a net margin of 7.23% and a return on equity of 21.80%. The business had revenue of $4 billion during the quarter, compared to analysts’ expectations of $3.93 billion. During the same period last year, the company posted $0.32 EPS. The business’s revenue was down .3% on a year-over-year basis. As a group, analysts anticipate that Kenvue Inc. will post 1.08 EPS 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. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 3.58%. Kenvue’s payout ratio is currently 141.38%.

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.