California State Teachers Retirement System Sells 118,195 Shares of Kenvue Inc. (NYSE:KVUE)

California State Teachers Retirement System reduced its stake in Kenvue Inc. (NYSE:KVUE - Free Report) by 3.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,149,012 shares of the company's stock after selling 118,195 shares during the quarter. California State Teachers Retirement System owned about 0.16% of Kenvue worth $67,231,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. LaFleur & Godfrey LLC lifted its position in Kenvue by 29.8% during the fourth quarter. LaFleur & Godfrey LLC now owns 81,300 shares of the company's stock worth $1,736,000 after purchasing an additional 18,650 shares during the period. RFG Advisory LLC bought a new position in Kenvue during the 4th quarter worth $324,000. Geneos Wealth Management Inc. acquired a new position in Kenvue during the 4th quarter worth about $29,000. Mount Yale Investment Advisors LLC lifted its holdings in Kenvue by 50.6% during the 4th quarter. Mount Yale Investment Advisors LLC now owns 34,599 shares of the company's stock worth $739,000 after buying an additional 11,632 shares during the period. Finally, Perigon Wealth Management LLC grew its position in shares of Kenvue by 19.8% in the 4th quarter. Perigon Wealth Management LLC now owns 19,249 shares of the company's stock valued at $408,000 after buying an additional 3,187 shares during the last quarter. 97.64% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently weighed in on KVUE shares. Evercore ISI initiated coverage on Kenvue in a research report on Monday, March 24th. They issued an "in-line" rating and a $25.00 price objective for the company. Royal Bank of Canada reiterated a "sector perform" rating and issued a $24.00 price objective on shares of Kenvue in a research note on Monday, February 3rd. Redburn Atlantic started coverage on shares of Kenvue in a research report on Thursday, April 10th. They set a "neutral" rating and a $23.50 target price on the stock. Canaccord Genuity Group raised their price target on shares of Kenvue from $24.00 to $29.00 and gave the stock a "buy" rating in a report on Wednesday, March 5th. Finally, Piper Sandler upped their price objective on shares of Kenvue from $24.00 to $27.00 and gave the company an "overweight" rating in a report on Monday, February 24th. Seven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, Kenvue has a consensus rating of "Hold" and an average price target of $25.33.

Kenvue Stock Performance

NYSE KVUE traded up $0.28 during trading hours on Friday, reaching $23.86. 30,016,864 shares of the company were exchanged, compared to its average volume of 16,346,058. 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 stock has a market capitalization of $45.78 billion, a P/E ratio of 45.02, a P/E/G ratio of 2.62 and a beta of 1.02. Kenvue Inc. has a 1 year low of $17.67 and a 1 year high of $25.17. The business's 50 day simple moving average is $23.27 and its 200-day simple moving average is $22.63.

Kenvue (NYSE:KVUE - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.01. Kenvue had a return on equity of 20.97% and a net margin of 6.66%. The company had revenue of $3.74 billion during the quarter, compared to the consensus estimate of $3.69 billion. During the same quarter in the prior year, the company earned $0.28 EPS. The firm's quarterly revenue was down 3.9% compared to the same quarter last year. On average, equities research analysts expect that Kenvue Inc. will post 1.14 earnings per share for the current year.

Kenvue Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 28th. Shareholders of record on Wednesday, May 14th were paid a $0.205 dividend. The ex-dividend date of this dividend was Wednesday, May 14th. This represents a $0.82 annualized dividend and a yield of 3.44%. Kenvue's dividend payout ratio is currently 149.09%.

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.