New York State Common Retirement Fund Decreases Holdings in Kenvue Inc. $KVUE

New York State Common Retirement Fund reduced its stake in Kenvue Inc. (NYSE:KVUE) by 16.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,044,689 shares of the company’s stock after selling 402,487 shares during the period. New York State Common Retirement Fund’s holdings in Kenvue were worth $42,795,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in KVUE. Mackenzie Financial Corp boosted its position in shares of Kenvue by 18.4% in the second quarter. Mackenzie Financial Corp now owns 267,392 shares of the company’s stock worth $5,597,000 after buying an additional 41,554 shares during the period. Skandinaviska Enskilda Banken AB publ boosted its holdings in Kenvue by 1.5% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 376,630 shares of the company’s stock worth $7,883,000 after acquiring an additional 5,481 shares during the period. Neuberger Berman Group LLC grew its position in Kenvue by 80.4% in the second quarter. Neuberger Berman Group LLC now owns 1,689,155 shares of the company’s stock valued at $35,354,000 after acquiring an additional 752,891 shares in the last quarter. Colonial Trust Advisors raised its stake in shares of Kenvue by 8.9% during the second quarter. Colonial Trust Advisors now owns 170,579 shares of the company’s stock valued at $3,570,000 after purchasing an additional 13,885 shares during the period. Finally, Norges Bank acquired a new position in shares of Kenvue during the second quarter worth $537,418,000. 97.64% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on KVUE shares. Rothschild & Co Redburn raised shares of Kenvue from a “neutral” rating to a “buy” rating and lowered their price target for the company from $22.50 to $22.00 in a report on Friday, September 26th. Bank of America decreased their price objective on shares of Kenvue from $25.00 to $21.00 and set a “buy” rating for the company in a research report on Wednesday, October 8th. Rothschild Redb upgraded Kenvue from a “hold” rating to a “strong-buy” rating in a research note on Friday, September 26th. Citigroup dropped their target price on Kenvue from $20.00 to $17.00 and set a “neutral” rating on the stock in a research report on Thursday, October 9th. Finally, Edward Jones cut Kenvue from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 3rd. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and thirteen have issued a Hold rating to the company. Based on data from MarketBeat.com, Kenvue currently has an average rating of “Hold” and a consensus price target of $20.23.

Kenvue Price Performance

KVUE opened at $17.31 on Monday. The company has a market capitalization of $33.15 billion, a P/E ratio of 23.07 and a beta of 0.59. The company has a 50-day moving average of $16.06 and a 200-day moving average of $19.54. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.69 and a current ratio of 0.98. Kenvue Inc. has a 1-year low of $14.02 and a 1-year high of $25.17.

Kenvue (NYSE:KVUE) last posted its quarterly earnings results on Monday, November 3rd. The company reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.01. The business had revenue of $3.76 billion during the quarter, compared to the consensus estimate of $3.83 billion. Kenvue had a return on equity of 20.02% and a net margin of 9.55%.The company’s revenue for the quarter was down 3.5% compared to the same quarter last year. During the same period last year, the firm earned $0.28 earnings per share. Kenvue has set its FY 2025 guidance at 1.000-1.050 EPS. Equities analysts expect that Kenvue Inc. will post 1.14 EPS for the current fiscal year.

Kenvue Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 26th. Stockholders of record on Wednesday, November 12th were issued a $0.2075 dividend. This represents a $0.83 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date was Wednesday, November 12th. Kenvue’s payout ratio is 110.67%.

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.