Public Employees Retirement System of Ohio Cuts Position in Kenvue Inc. (NYSE:KVUE)

Public Employees Retirement System of Ohio lessened its stake in Kenvue Inc. (NYSE:KVUE - Free Report) by 4.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 703,160 shares of the company's stock after selling 36,286 shares during the quarter. Public Employees Retirement System of Ohio's holdings in Kenvue were worth $16,264,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of KVUE. Riverview Trust Co purchased a new stake in Kenvue in the 3rd quarter worth $30,000. Ashton Thomas Securities LLC purchased a new stake in shares of Kenvue in the third quarter worth about $35,000. Studio Investment Management LLC boosted its stake in Kenvue by 52.1% during the second quarter. Studio Investment Management LLC now owns 2,468 shares of the company's stock valued at $45,000 after buying an additional 845 shares during the last quarter. Deseret Mutual Benefit Administrators grew its holdings in Kenvue by 49.7% during the 3rd quarter. Deseret Mutual Benefit Administrators now owns 1,960 shares of the company's stock valued at $45,000 after buying an additional 651 shares in the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new position in Kenvue during the 2nd quarter valued at approximately $61,000. Institutional investors own 97.64% of the company's stock.

Kenvue Trading Down 2.2 %

KVUE stock traded down $0.51 during trading on Wednesday, hitting $22.23. The company had a trading volume of 9,433,236 shares, compared to its average volume of 17,686,359. The firm has a market capitalization of $42.62 billion, a P/E ratio of 40.42, a PEG ratio of 2.07 and a beta of 1.37. The company has a quick ratio of 0.69, a current ratio of 1.00 and a debt-to-equity ratio of 0.66. Kenvue Inc. has a 52-week low of $17.67 and a 52-week high of $24.46. The company has a 50 day simple moving average of $22.95 and a 200-day simple moving average of $21.16.

Kenvue (NYSE:KVUE - Get Free Report) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.28 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $3.92 billion. During the same quarter in the previous year, the firm posted $0.31 earnings per share. The company's revenue was down .4% on a year-over-year basis. As a group, research analysts forecast that Kenvue Inc. will post 1.07 earnings per share for the current fiscal year.

Kenvue Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th were given a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a dividend yield of 3.69%. The ex-dividend date was Wednesday, November 13th. Kenvue's payout ratio is 149.09%.

Analysts Set New Price Targets

A number of research firms have recently commented on KVUE. Piper Sandler increased their target price on Kenvue from $20.00 to $21.00 and gave the company a "neutral" rating in a research report on Monday, September 23rd. Royal Bank of Canada upgraded shares of Kenvue from a "hold" rating to a "moderate buy" rating in a research report on Monday. JPMorgan Chase & Co. lifted their price objective on shares of Kenvue from $24.00 to $25.00 and gave the stock an "overweight" rating in a research note on Friday, October 11th. Jefferies Financial Group began coverage on shares of Kenvue in a research report on Tuesday, September 24th. They set a "buy" rating and a $27.00 target price on the stock. Finally, Bank of America lifted their price target on Kenvue from $24.00 to $27.00 and gave the stock a "buy" rating in a research report on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $22.64.

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.