State of New Jersey Common Pension Fund D Decreases Position in Kenvue Inc. $KVUE

Key Points

• The State of New Jersey Common Pension Fund D decreased its stake in Kenvue Inc. by 6.2%, holding 651,328 shares valued at approximately $15.62 million as of the end of the first quarter.
• Kenvue reported a quarterly earnings per share (EPS) of $0.29, slightly beating analysts' expectations, despite a 4% decline in revenue year-over-year.
• The company announced an increase in its quarterly dividend to $0.2075, yielding approximately 3.9%, with a dividend payout ratio of over 112%.

State of New Jersey Common Pension Fund D reduced its position in Kenvue Inc. (NYSE:KVUE - Free Report) by 6.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 651,328 shares of the company's stock after selling 43,279 shares during the quarter. State of New Jersey Common Pension Fund D's holdings in Kenvue were worth $15,619,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Pittenger & Anderson Inc. purchased a new stake in Kenvue during the first quarter worth $30,000. TruNorth Capital Management LLC purchased a new position in shares of Kenvue in the first quarter worth about $36,000. Clal Insurance Enterprises Holdings Ltd lifted its stake in Kenvue by 378.5% during the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,627 shares of the company's stock valued at $39,000 after acquiring an additional 1,287 shares during the period. Bank Julius Baer & Co. Ltd Zurich lifted its position in Kenvue by 120.6% during the first quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,699 shares of the company's stock valued at $41,000 after purchasing an additional 929 shares during the period. Finally, Clarity Asset Management Inc. acquired a new position in shares of Kenvue in the 4th quarter valued at about $45,000. 97.64% of the stock is currently owned by institutional investors.

Kenvue Trading Up 1.8%

Shares of NYSE KVUE traded up $0.3850 during mid-day trading on Tuesday, reaching $21.4850. 13,900,327 shares of the company's stock were exchanged, compared to its average volume of 18,923,206. The company's 50-day moving average is $21.54 and its 200-day moving average is $22.42. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.68 and a current ratio of 0.98. The firm has a market capitalization of $41.23 billion, a price-to-earnings ratio of 29.03, a PEG ratio of 3.03 and a beta of 0.83. Kenvue Inc. has a 52-week low of $19.75 and a 52-week high of $25.17.

Kenvue (NYSE:KVUE - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.01. The firm had revenue of $3.84 billion for the quarter, compared to analyst estimates of $3.94 billion. Kenvue had a net margin of 9.37% and a return on equity of 20.06%. Kenvue's revenue was down 4.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.32 EPS. Kenvue has set its FY 2025 guidance at 1.000-1.050 EPS. Analysts expect that Kenvue Inc. will post 1.14 EPS for the current fiscal year.

Kenvue Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 27th. Stockholders of record on Wednesday, August 13th will be paid a $0.2075 dividend. The ex-dividend date of this dividend is Wednesday, August 13th. This is a boost from Kenvue's previous quarterly dividend of $0.21. This represents a $0.83 dividend on an annualized basis and a dividend yield of 3.9%. Kenvue's payout ratio is presently 112.16%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on KVUE shares. JPMorgan Chase & Co. reduced their price objective on Kenvue from $27.00 to $26.00 and set an "overweight" rating for the company in a research note on Friday, July 25th. Royal Bank Of Canada reduced their target price on shares of Kenvue from $24.00 to $22.00 and set a "sector perform" rating for the company in a research report on Friday, August 8th. UBS Group lowered their price target on shares of Kenvue from $25.00 to $23.00 and set a "neutral" rating on the stock in a research report on Thursday, July 17th. Citigroup dropped their price objective on shares of Kenvue from $24.50 to $22.00 and set a "neutral" rating for the company in a research note on Tuesday, July 15th. Finally, Canaccord Genuity Group reduced their price target on Kenvue from $29.00 to $26.00 and set a "buy" rating on the stock in a report on Friday, August 8th. Five equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $24.38.

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.