California Public Employees Retirement System Sells 154,721 Shares of Kenvue Inc. (NYSE:KVUE)

California Public Employees Retirement System reduced its holdings in shares of Kenvue Inc. (NYSE:KVUE - Free Report) by 5.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,944,531 shares of the company's stock after selling 154,721 shares during the period. California Public Employees Retirement System owned about 0.15% of Kenvue worth $62,866,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of KVUE. Norges Bank bought a new stake in shares of Kenvue during the 4th quarter valued at $521,348,000. State Street Corp lifted its position in shares of Kenvue by 16.8% in the third quarter. State Street Corp now owns 127,213,940 shares of the company's stock worth $2,942,458,000 after buying an additional 18,283,473 shares in the last quarter. Boston Partners lifted its position in shares of Kenvue by 36.9% in the fourth quarter. Boston Partners now owns 23,595,963 shares of the company's stock worth $503,145,000 after buying an additional 6,366,097 shares in the last quarter. Raymond James Financial Inc. bought a new position in Kenvue during the fourth quarter valued at approximately $98,926,000. Finally, Empower Advisory Group LLC purchased a new position in Kenvue during the 4th quarter valued at approximately $48,252,000. Hedge funds and other institutional investors own 97.64% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Barclays increased their target price on Kenvue from $21.00 to $23.00 and gave the company an "equal weight" rating in a research report on Thursday, March 27th. Canaccord Genuity Group lifted their price objective on shares of Kenvue from $24.00 to $29.00 and gave the stock a "buy" rating in a research note on Wednesday, March 5th. Piper Sandler boosted their target price on shares of Kenvue from $24.00 to $27.00 and gave the stock an "overweight" rating in a report on Monday, February 24th. Deutsche Bank Aktiengesellschaft downgraded shares of Kenvue from a "buy" rating to a "hold" rating and lowered their price target for the company from $25.00 to $24.00 in a report on Thursday, December 12th. Finally, UBS Group reduced their price objective on Kenvue from $23.00 to $21.00 and set a "neutral" rating on the stock in a research note on Friday, February 7th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $24.00.

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Kenvue Trading Down 0.9 %

Shares of KVUE stock traded down $0.23 on Thursday, reaching $23.65. 21,703,204 shares of the company's stock were exchanged, compared to its average volume of 16,767,870. The company's fifty day simple moving average is $22.50 and its 200 day simple moving average is $22.47. Kenvue Inc. has a 52 week low of $17.67 and a 52 week high of $24.46. The company has a current ratio of 1.00, a quick ratio of 0.69 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $45.19 billion, a PE ratio of 44.61, a P/E/G ratio of 2.62 and a beta of 1.25.

Kenvue (NYSE:KVUE - Get Free Report) last released its earnings results on Thursday, February 6th. The company reported $0.26 earnings per share for the quarter, hitting the consensus estimate of $0.26. Kenvue had a return on equity of 20.97% and a net margin of 6.66%. As a group, analysts forecast that Kenvue Inc. will post 1.14 EPS for the current year.

Kenvue Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th were given a $0.205 dividend. The ex-dividend date of this dividend was Wednesday, February 12th. This represents a $0.82 annualized dividend and a yield of 3.47%. Kenvue's dividend payout ratio (DPR) is 154.72%.

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.