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

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

A number of other large investors have also recently made changes to their positions in KVUE. Price T Rowe Associates Inc. MD boosted its stake in shares of 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 purchasing an additional 25,238,112 shares during the period. Vanguard Group Inc. lifted its holdings in Kenvue by 12.0% during the 1st quarter. Vanguard Group Inc. now owns 166,789,085 shares of the company’s stock valued at $3,579,294,000 after buying an additional 17,908,497 shares in the last quarter. Van ECK Associates Corp lifted its holdings in Kenvue by 110.9% during the 2nd quarter. Van ECK Associates Corp now owns 20,510,427 shares of the company’s stock valued at $372,880,000 after buying an additional 10,783,258 shares in the last quarter. Clearbridge Investments LLC raised its holdings in shares of Kenvue by 16,051.1% in the 1st quarter. Clearbridge Investments LLC now owns 9,813,597 shares of the company’s stock valued at $210,600,000 after purchasing an additional 9,752,836 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of Kenvue by 21.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 43,444,085 shares of the company’s stock valued at $789,813,000 after purchasing an additional 7,546,362 shares in the last quarter. 97.64% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Jefferies Financial Group assumed coverage on shares of Kenvue in a report on Tuesday, September 24th. They issued a “buy” rating and a $27.00 price target for the company. UBS Group boosted their price target on shares of Kenvue from $20.00 to $22.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Citigroup reduced their price target on shares of Kenvue from $21.00 to $20.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. Royal Bank of Canada lowered shares of Kenvue from an “outperform” rating to a “sector perform” rating and set a $24.00 price target for the company. in a report on Tuesday, September 24th. Finally, Piper Sandler boosted their price objective on shares of Kenvue from $20.00 to $21.00 and gave the stock a “neutral” rating in a research note on Monday, September 23rd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Kenvue presently has a consensus rating of “Hold” and an average target price of $22.64.

Kenvue Stock Up 0.2 %

NYSE:KVUE opened at $22.93 on Friday. The company has a market cap of $43.91 billion, a PE ratio of 39.53, a P/E/G ratio of 3.00 and a beta of 1.40. Kenvue Inc. has a twelve month low of $17.67 and a twelve month high of $23.55. The company has a current ratio of 0.99, a quick ratio of 0.68 and a debt-to-equity ratio of 0.69. The company’s 50 day moving average is $22.51 and its two-hundred day moving average is $20.38.

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

Kenvue Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th will be given a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a yield of 3.58%. The ex-dividend date of this dividend is Wednesday, November 13th. Kenvue’s dividend payout ratio is presently 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.