Illinois Municipal Retirement Fund Buys 72,348 Shares of Kenvue Inc. $KVUE

Key Points

• Illinois Municipal Retirement Fund increased its Kenvue stake by 12.7% in the first quarter, buying 72,348 additional shares and bringing its total holdings to 643,141 shares worth about $11.1 million.
• Kenvue reported better-than-expected quarterly results, posting EPS of $0.32 versus estimates of $0.27 and revenue of $3.91 billion versus $3.84 billion expected, with revenue up 4.5% year over year.
• The stock was trading around $19.03, and analysts currently have a consensus “Hold” rating with a price target of $19.50, while the company also pays a quarterly dividend yielding about 4.4% annually.

Illinois Municipal Retirement Fund grew its stake in shares of Kenvue Inc. (NYSE:KVUE - Free Report) by 12.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 643,141 shares of the company's stock after acquiring an additional 72,348 shares during the period. Illinois Municipal Retirement Fund's holdings in Kenvue were worth $11,088,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Oak Thistle LLC acquired a new stake in shares of Kenvue during the fourth quarter worth $1,563,000. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Kenvue by 25.8% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 410,874 shares of the company's stock valued at $7,088,000 after acquiring an additional 84,219 shares during the period. SG Americas Securities LLC grew its stake in shares of Kenvue by 3,889.9% in the fourth quarter. SG Americas Securities LLC now owns 3,075,723 shares of the company's stock valued at $53,056,000 after acquiring an additional 2,998,635 shares in the last quarter. State of Wyoming grew its stake in shares of Kenvue by 233.5% in the fourth quarter. State of Wyoming now owns 97,992 shares of the company's stock valued at $1,690,000 after acquiring an additional 68,609 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. increased its position in Kenvue by 21.5% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 3,491,548 shares of the company's stock worth $60,229,000 after acquiring an additional 618,720 shares during the period. Institutional investors own 97.64% of the company's stock.

Kenvue Stock Up 1.8%

KVUE stock opened at $19.03 on Friday. Kenvue Inc. has a 52 week low of $14.02 and a 52 week high of $22.87. The business has a 50-day simple moving average of $18.17 and a 200 day simple moving average of $17.85. The company has a quick ratio of 0.70, a current ratio of 0.98 and a debt-to-equity ratio of 0.67. The company has a market cap of $36.55 billion, a PE ratio of 22.39, a price-to-earnings-growth ratio of 1.42 and a beta of 0.47.

Kenvue (NYSE:KVUE - Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.32 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.27 by $0.05. The firm had revenue of $3.91 billion for the quarter, compared to the consensus estimate of $3.84 billion. Kenvue had a net margin of 10.61% and a return on equity of 20.81%. The business's revenue for the quarter was up 4.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.24 earnings per share. Sell-side analysts anticipate that Kenvue Inc. will post 1.16 EPS for the current fiscal year.

Kenvue Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 27th. Investors of record on Wednesday, May 13th were given a dividend of $0.2075 per share. The ex-dividend date was Wednesday, May 13th. This represents a $0.83 annualized dividend and a dividend yield of 4.4%. Kenvue's dividend payout ratio (DPR) is currently 97.65%.

Insider Activity

In related news, General Counsel Matthew Orlando sold 38,491 shares of Kenvue stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $17.66, for a total value of $679,751.06. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 1.59% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on KVUE shares. Weiss Ratings upgraded shares of Kenvue from a "hold (c-)" rating to a "hold (c)" rating in a research note on Monday, June 15th. UBS Group raised their target price on shares of Kenvue from $18.00 to $20.00 and gave the stock a "neutral" rating in a report on Thursday. Citigroup dropped their price target on shares of Kenvue from $20.00 to $19.00 and set a "neutral" rating for the company in a research report on Wednesday, April 15th. Zacks Research cut Kenvue from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, July 7th. Finally, Wall Street Zen upgraded Kenvue to a "buy" rating in a research note on Sunday, July 12th. Three research analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the stock. Based on data from MarketBeat.com, Kenvue has a consensus rating of "Hold" and a consensus price target of $19.50.

Kenvue Company Profile

Kenvue is a consumer health company that was established as a standalone, publicly traded business after separating from Johnson & Johnson. Listed on the New York Stock Exchange under the symbol KVUE, Kenvue focuses on the development, manufacture, marketing and distribution of consumer health and personal care products across a range of categories including skin and beauty care, baby care, oral care, wound care and over‑the‑counter medicines.

The company owns and markets a portfolio of widely recognized consumer brands, including names familiar to global shoppers across retail and pharmacy channels.

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