State of Michigan Retirement System Decreases Position in Kenvue Inc. (NYSE:KVUE)

State of Michigan Retirement System decreased its stake in Kenvue Inc. (NYSE:KVUE) by 0.2% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 520,339 shares of the company’s stock after selling 1,200 shares during the quarter. State of Michigan Retirement System’s holdings in Kenvue were worth $11,109,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. National Pension Service boosted its stake in shares of Kenvue by 14.5% during the 3rd quarter. National Pension Service now owns 2,829,772 shares of the company’s stock worth $65,453,000 after purchasing an additional 357,672 shares during the period. HF Advisory Group LLC lifted its stake in Kenvue by 15.4% in the third quarter. HF Advisory Group LLC now owns 110,205 shares of the company’s stock worth $2,549,000 after purchasing an additional 14,686 shares during the last quarter. Concurrent Investment Advisors LLC boosted its position in shares of Kenvue by 131.9% during the third quarter. Concurrent Investment Advisors LLC now owns 53,517 shares of the company’s stock valued at $1,238,000 after buying an additional 30,438 shares during the period. M&G PLC grew its stake in shares of Kenvue by 538.0% during the third quarter. M&G PLC now owns 4,341,172 shares of the company’s stock valued at $99,847,000 after buying an additional 3,660,730 shares during the last quarter. Finally, Blake Schutter Theil Wealth Advisors LLC purchased a new stake in shares of Kenvue in the third quarter worth approximately $370,000. Institutional investors own 97.64% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Barclays dropped their price objective on Kenvue from $23.00 to $21.00 and set an “equal weight” rating for the company in a report on Friday, January 17th. UBS Group lowered their target price on shares of Kenvue from $23.00 to $21.00 and set a “neutral” rating for the company in a research note on Friday, February 7th. Piper Sandler raised their price target on shares of Kenvue from $24.00 to $27.00 and gave the stock an “overweight” rating in a research note on Monday, February 24th. Canaccord Genuity Group lifted their price objective on shares of Kenvue from $24.00 to $29.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Citigroup dropped their target price on shares of Kenvue from $25.00 to $21.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 15th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $23.75.

Kenvue Stock Performance

Shares of KVUE stock opened at $23.05 on Thursday. The firm has a market cap of $44.04 billion, a price-to-earnings ratio of 43.48, a PEG ratio of 2.62 and a beta of 1.45. Kenvue Inc. has a 52-week low of $17.67 and a 52-week high of $24.46. The company has a quick ratio of 0.69, a current ratio of 1.00 and a debt-to-equity ratio of 0.66. The company’s 50 day moving average is $21.57 and its 200 day moving average is $22.30.

Kenvue (NYSE:KVUE) last announced its quarterly earnings results on Thursday, February 6th. The company reported $0.26 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.26. Kenvue had a return on equity of 20.97% and a net margin of 6.66%. On average, sell-side analysts anticipate that Kenvue Inc. will post 1.14 EPS for the current fiscal year.

Kenvue Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th were issued a $0.205 dividend. The ex-dividend date was Wednesday, February 12th. This represents a $0.82 dividend on an annualized basis and a yield of 3.56%. Kenvue’s dividend payout ratio is presently 154.72%.

Kenvue Company 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.