Ontario Teachers Pension Plan Board Reduces Stake in Kenvue Inc. (NYSE:KVUE)

Ontario Teachers Pension Plan Board reduced its holdings in shares of Kenvue Inc. (NYSE:KVUE - Free Report) by 76.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 44,614 shares of the company's stock after selling 145,712 shares during the quarter. Ontario Teachers Pension Plan Board's holdings in Kenvue were worth $1,032,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Price T Rowe Associates Inc. MD increased its holdings in Kenvue by 23.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 134,565,333 shares of the company's stock worth $2,887,773,000 after acquiring an additional 25,238,112 shares during the period. Van ECK Associates Corp boosted its stake in shares of Kenvue by 110.9% in the 2nd quarter. Van ECK Associates Corp now owns 20,510,427 shares of the company's stock valued at $372,880,000 after purchasing an additional 10,783,258 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Kenvue by 21.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 43,444,085 shares of the company's stock valued at $789,813,000 after purchasing an additional 7,546,362 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in Kenvue by 9.6% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 79,863,967 shares of the company's stock valued at $1,451,927,000 after buying an additional 7,023,047 shares during the period. Finally, American Century Companies Inc. boosted its position in Kenvue by 20.7% during the 2nd quarter. American Century Companies Inc. now owns 27,382,644 shares of the company's stock valued at $497,816,000 after buying an additional 4,700,697 shares during the period. 97.64% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. JPMorgan Chase & Co. raised their target price on shares of Kenvue from $24.00 to $25.00 and gave the stock an "overweight" rating in a research report on Friday, October 11th. Royal Bank of Canada lowered shares of Kenvue from an "outperform" rating to a "sector perform" rating and set a $24.00 price objective for the company. in a research note on Tuesday, September 24th. Jefferies Financial Group started coverage on shares of Kenvue in a research note on Tuesday, September 24th. They set a "buy" rating and a $27.00 price objective for the company. Piper Sandler lifted their price target on shares of Kenvue from $20.00 to $21.00 and gave the stock a "neutral" rating in a research note on Monday, September 23rd. Finally, UBS Group raised their price objective on shares of Kenvue from $20.00 to $22.00 and gave the stock a "neutral" rating in a report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Kenvue presently has an average rating of "Hold" and a consensus price target of $22.64.

Kenvue Trading Up 0.4 %

Shares of KVUE opened at $23.78 on Thursday. Kenvue Inc. has a twelve month low of $17.67 and a twelve month high of $24.13. The company has a market cap of $45.59 billion, a P/E ratio of 43.24, a P/E/G ratio of 2.15 and a beta of 1.36. 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 company's fifty day simple moving average is $22.79 and its 200-day simple moving average is $20.78.

Kenvue (NYSE:KVUE - Get Free Report) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.28 EPS for the quarter, topping analysts' consensus estimates of $0.27 by $0.01. Kenvue had a net margin of 6.88% and a return on equity of 21.43%. The firm had revenue of $3.90 billion for the quarter, compared to analysts' expectations of $3.92 billion. During the same period in the prior year, the business posted $0.31 earnings per share. The business's revenue for the quarter was down .4% on a year-over-year basis. As a group, analysts expect that Kenvue Inc. will post 1.07 EPS for the current year.

Kenvue Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th will be issued a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a dividend yield of 3.45%. The ex-dividend date is Wednesday, November 13th. Kenvue's dividend payout ratio is currently 149.09%.

Kenvue 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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