Louisiana State Employees Retirement System Reduces Stock Holdings in Kenvue Inc. (NYSE:KVUE)

Louisiana State Employees Retirement System reduced its holdings in Kenvue Inc. (NYSE:KVUE) by 0.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 107,800 shares of the company’s stock after selling 500 shares during the period. Louisiana State Employees Retirement System’s holdings in Kenvue were worth $2,493,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Janney Montgomery Scott LLC lifted its stake in shares of Kenvue by 56.2% in the 1st quarter. Janney Montgomery Scott LLC now owns 1,840,875 shares of the company’s stock valued at $39,505,000 after purchasing an additional 662,666 shares during the period. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Kenvue in the 1st quarter valued at $1,050,000. Norden Group LLC acquired a new position in shares of Kenvue in the 1st quarter valued at $1,792,000. Lorne Steinberg Wealth Management Inc. lifted its stake in shares of Kenvue by 59.0% in the 2nd quarter. Lorne Steinberg Wealth Management Inc. now owns 154,690 shares of the company’s stock valued at $2,812,000 after purchasing an additional 57,375 shares during the period. Finally, Kennon Green & Company LLC lifted its stake in shares of Kenvue by 140.7% in the 2nd quarter. Kennon Green & Company LLC now owns 159,106 shares of the company’s stock valued at $2,893,000 after purchasing an additional 93,008 shares during the period. 97.64% of the stock is owned by hedge funds and other institutional investors.

Kenvue Price Performance

Shares of NYSE KVUE opened at $22.88 on Tuesday. The firm has a 50-day simple moving average of $22.41 and a 200-day simple moving average of $20.29. The stock has a market capitalization of $43.81 billion, a price-to-earnings ratio of 29.33, a price-to-earnings-growth ratio of 3.00 and a beta of 1.40. The company has a quick ratio of 0.68, a current ratio of 0.99 and a debt-to-equity ratio of 0.69. Kenvue Inc. has a 52 week low of $17.67 and a 52 week high of $23.55.

Kenvue (NYSE:KVUE) last issued its earnings results on Tuesday, August 6th. The company reported $0.32 EPS for the quarter, beating 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 in the prior year, the business earned $0.32 earnings per share. The company’s quarterly revenue was down .3% compared to the same quarter last year. On average, equities analysts predict that Kenvue Inc. will post 1.08 earnings per share for the current fiscal year.

Kenvue Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th will be issued 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 of this dividend is Wednesday, November 13th. Kenvue’s dividend payout ratio is currently 105.13%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on KVUE shares. Jefferies Financial Group started coverage on shares of Kenvue in a research report on Tuesday, September 24th. They set a “buy” rating and a $27.00 price objective for the company. UBS Group upped their price objective on shares of Kenvue from $20.00 to $22.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. JPMorgan Chase & Co. upped their price objective on shares of Kenvue from $24.00 to $25.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. 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. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of Kenvue from $23.00 to $24.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $22.64.

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.