Retirement Systems of Alabama Boosts Stock Position in Kenvue Inc. (NYSE:KVUE)

Retirement Systems of Alabama raised its position in shares of Kenvue Inc. (NYSE:KVUE) by 0.1% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 380,398 shares of the company’s stock after purchasing an additional 557 shares during the quarter. Retirement Systems of Alabama’s holdings in Kenvue were worth $8,163,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in KVUE. Planned Solutions Inc. purchased a new stake in shares of Kenvue in the fourth quarter worth about $27,000. Pacific Capital Wealth Advisors Inc. purchased a new stake in shares of Kenvue in the fourth quarter worth about $28,000. Mather Group LLC. purchased a new stake in shares of Kenvue in the first quarter worth about $28,000. Oakworth Capital Inc. purchased a new stake in shares of Kenvue in the first quarter worth about $31,000. Finally, CVA Family Office LLC purchased a new stake in shares of Kenvue in the fourth quarter worth about $32,000. Hedge funds and other institutional investors own 97.64% of the company’s stock.

Kenvue Stock Performance

KVUE remained flat at $18.31 on Friday. 12,172,630 shares of the company’s stock traded hands, compared to its average volume of 19,413,246. Kenvue Inc. has a 52 week low of $17.75 and a 52 week high of $25.81. The company has a market capitalization of $35.06 billion, a PE ratio of 23.47, a price-to-earnings-growth ratio of 1.94 and a beta of 1.40. The firm’s fifty day simple moving average is $19.11 and its 200-day simple moving average is $19.90. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.68 and a current ratio of 0.99.

Kenvue (NYSE:KVUE) last posted its 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 for the quarter, compared to analyst estimates of $3.79 billion. Kenvue had a net margin of 9.63% and a return on equity of 21.06%. The firm’s revenue was down 24.9% compared to the same quarter last year. On average, equities analysts predict that Kenvue Inc. will post 1.17 EPS for the current year.

Kenvue Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 22nd. Stockholders of record on Wednesday, May 8th were issued a $0.20 dividend. The ex-dividend date was Tuesday, May 7th. This represents a $0.80 annualized dividend and a dividend yield of 4.37%. Kenvue’s dividend payout ratio is currently 102.56%.

Analysts Set New Price Targets

KVUE has been the topic of a number of recent research reports. Citigroup restated a “neutral” rating and issued a $21.00 target price on shares of Kenvue in a research note on Tuesday, May 28th. Sanford C. Bernstein started coverage on Kenvue in a research report on Thursday, April 11th. They set an “underperform” rating and a $18.00 price target on the stock. HSBC increased their price target on Kenvue from $20.00 to $21.00 and gave the stock a “hold” rating in a research report on Wednesday, May 8th. Finally, William Blair started coverage on Kenvue in a research report on Wednesday, April 3rd. They set a “market perform” rating on the stock. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $23.09.

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.