Illinois Municipal Retirement Fund Buys 264,397 Shares of Kenvue Inc. (NYSE:KVUE)

Illinois Municipal Retirement Fund increased its stake in shares of Kenvue Inc. (NYSE:KVUE - Free Report) by 704.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 301,913 shares of the company's stock after acquiring an additional 264,397 shares during the period. Illinois Municipal Retirement Fund's holdings in Kenvue were worth $6,500,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of KVUE. CWM LLC boosted its position in Kenvue by 1,521.1% during the third quarter. CWM LLC now owns 12,969 shares of the company's stock worth $260,000 after purchasing an additional 12,169 shares in the last quarter. AE Wealth Management LLC purchased a new position in Kenvue during the third quarter worth approximately $619,000. AdvisorNet Financial Inc purchased a new position in Kenvue during the third quarter worth approximately $28,000. IFP Advisors Inc purchased a new position in Kenvue during the third quarter worth approximately $38,000. Finally, Global Retirement Partners LLC purchased a new position in shares of Kenvue in the third quarter valued at approximately $28,000. Hedge funds and other institutional investors own 97.64% of the company's stock.

Kenvue Price Performance

NYSE KVUE traded down $0.25 during trading hours on Wednesday, hitting $19.13. 22,713,472 shares of the company were exchanged, compared to its average volume of 16,738,482. The company has a 50 day moving average of $19.84 and a two-hundred day moving average of $20.15. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.12 and a quick ratio of 0.78. Kenvue Inc. has a 52-week low of $17.82 and a 52-week high of $27.80.

Kenvue (NYSE:KVUE - Get Free Report) last released its quarterly earnings data on Thursday, February 8th. The company reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.03. The business had revenue of $3.67 billion during the quarter, compared to analysts' expectations of $3.78 billion. Kenvue had a return on equity of 15.62% and a net margin of 9.87%. The firm's quarterly revenue was down 2.7% on a year-over-year basis. As a group, research analysts predict that Kenvue Inc. will post 1.15 EPS for the current year.

Kenvue Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 28th. Shareholders of record on Wednesday, February 14th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Tuesday, February 13th. This represents a $0.80 dividend on an annualized basis and a yield of 4.18%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on KVUE shares. William Blair started coverage on Kenvue in a research report on Wednesday, April 3rd. They issued a "market perform" rating on the stock. JPMorgan Chase & Co. decreased their target price on Kenvue from $25.00 to $24.00 and set an "overweight" rating on the stock in a research report on Friday, February 9th. Sanford C. Bernstein initiated coverage on Kenvue in a research report on Thursday, April 11th. They set an "underperform" rating and a $18.00 price objective on the stock. The Goldman Sachs Group initiated coverage on Kenvue in a research report on Friday, March 1st. They set a "neutral" rating and a $20.00 price objective on the stock. Finally, Royal Bank of Canada reduced their price objective on Kenvue from $25.00 to $24.00 and set an "outperform" rating on the stock in a research report on Friday, February 9th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $24.85.

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.