Kenvue Inc. (NYSE:KVUE) Shares Sold by Maryland State Retirement & Pension System

Key Points

• The Maryland State Retirement & Pension System reduced its holdings in Kenvue Inc. by 12.5% in the 1st quarter, now owning 89,519 shares valued at approximately $2.15 million.
• Kenvue announced a quarterly dividend increase to $0.2075 per share, with a yield of 3.9%, representing a rise from the previous dividend of $0.21.
• Analysts have mixed ratings on Kenvue, with seven "hold" ratings and five "buy" ratings, and an average price target of $24.38.

Maryland State Retirement & Pension System lessened its holdings in Kenvue Inc. (NYSE:KVUE - Free Report) by 12.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 89,519 shares of the company's stock after selling 12,735 shares during the period. Maryland State Retirement & Pension System's holdings in Kenvue were worth $2,147,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of KVUE. Pittenger & Anderson Inc. acquired a new stake in shares of Kenvue in the first quarter worth approximately $30,000. TruNorth Capital Management LLC acquired a new stake in Kenvue during the 1st quarter worth $36,000. Bank Julius Baer & Co. Ltd Zurich grew its holdings in shares of Kenvue by 120.6% during the first quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,699 shares of the company's stock worth $41,000 after buying an additional 929 shares in the last quarter. Clarity Asset Management Inc. acquired a new stake in shares of Kenvue in the fourth quarter valued at about $45,000. Finally, Continuum Advisory LLC lifted its stake in shares of Kenvue by 2,071.1% in the first quarter. Continuum Advisory LLC now owns 1,954 shares of the company's stock worth $47,000 after buying an additional 1,864 shares in the last quarter. Institutional investors and hedge funds own 97.64% of the company's stock.

Kenvue Trading Down 1.8%

KVUE opened at $21.37 on Friday. The company has a quick ratio of 0.60, a current ratio of 0.86 and a debt-to-equity ratio of 0.63. The firm has a market cap of $41.00 billion, a P/E ratio of 28.88, a P/E/G ratio of 3.65 and a beta of 0.83. Kenvue Inc. has a 52 week low of $19.75 and a 52 week high of $25.17. The business has a fifty day simple moving average of $21.62 and a 200-day simple moving average of $22.40.

Kenvue (NYSE:KVUE - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.01. Kenvue had a net margin of 9.37% and a return on equity of 20.36%. The firm had revenue of $3.84 billion for the quarter, compared to the consensus estimate of $3.94 billion. During the same period in the prior year, the firm earned $0.32 EPS. The firm's revenue for the quarter was down 4.0% on a year-over-year basis. On average, equities analysts expect that Kenvue Inc. will post 1.14 earnings per share for the current year.

Kenvue Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 27th. Shareholders of record on Wednesday, August 13th will be given a $0.2075 dividend. The ex-dividend date of this dividend is Wednesday, August 13th. This represents a $0.83 dividend on an annualized basis and a yield of 3.9%. This is an increase from Kenvue's previous quarterly dividend of $0.21. Kenvue's dividend payout ratio is 149.09%.

Wall Street Analysts Forecast Growth

KVUE has been the subject of several research reports. UBS Group dropped their price objective on shares of Kenvue from $25.00 to $23.00 and set a "neutral" rating for the company in a research note on Thursday, July 17th. Barclays cut their price target on Kenvue from $23.00 to $22.00 and set an "equal weight" rating for the company in a report on Tuesday, July 15th. Citigroup lowered their price objective on Kenvue from $24.50 to $22.00 and set a "neutral" rating on the stock in a research note on Tuesday, July 15th. Bank of America dropped their target price on Kenvue from $27.00 to $25.00 and set a "buy" rating for the company in a report on Tuesday, July 15th. Finally, JPMorgan Chase & Co. reduced their price target on Kenvue from $27.00 to $26.00 and set an "overweight" rating on the stock in a report on Friday, July 25th. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Kenvue presently has an average rating of "Hold" and an average price target of $24.38.

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.

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