California Public Employees Retirement System Purchases 1,137,317 Shares of Kenvue Inc. $KVUE

California Public Employees Retirement System lifted its holdings in Kenvue Inc. (NYSE:KVUE) by 35.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,379,740 shares of the company’s stock after acquiring an additional 1,137,317 shares during the period. California Public Employees Retirement System’s holdings in Kenvue were worth $71,083,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Kenvue by 1.8% during the 2nd quarter. Vanguard Group Inc. now owns 233,246,267 shares of the company’s stock valued at $4,881,844,000 after purchasing an additional 4,101,880 shares in the last quarter. American Century Companies Inc. increased its holdings in Kenvue by 22.4% in the third quarter. American Century Companies Inc. now owns 37,046,660 shares of the company’s stock worth $601,267,000 after purchasing an additional 6,781,640 shares in the last quarter. Independent Franchise Partners LLP increased its holdings in Kenvue by 233.4% in the second quarter. Independent Franchise Partners LLP now owns 31,265,574 shares of the company’s stock worth $654,388,000 after purchasing an additional 21,886,537 shares in the last quarter. Norges Bank acquired a new position in Kenvue in the second quarter valued at approximately $537,418,000. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Kenvue by 13.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 23,127,234 shares of the company’s stock worth $375,377,000 after buying an additional 2,747,952 shares in the last quarter. 97.64% of the stock is owned by institutional investors and hedge funds.

Kenvue Price Performance

Shares of NYSE:KVUE opened at $17.72 on Tuesday. Kenvue Inc. has a twelve month low of $14.02 and a twelve month high of $25.17. The stock’s 50 day moving average is $17.91 and its 200-day moving average is $17.26. The company has a quick ratio of 0.68, a current ratio of 0.96 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $33.95 billion, a price-to-earnings ratio of 23.01, a PEG ratio of 3.97 and a beta of 0.51.

Kenvue (NYSE:KVUE) last posted its quarterly earnings results on Tuesday, February 17th. The company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.05. The business had revenue of $3.78 billion during the quarter, compared to the consensus estimate of $3.68 billion. Kenvue had a net margin of 9.72% and a return on equity of 19.72%. Kenvue’s revenue was up 3.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.26 EPS. Sell-side analysts forecast that Kenvue Inc. will post 1.14 EPS for the current fiscal year.

Kenvue Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 25th. Stockholders of record on Wednesday, February 11th were issued a dividend of $0.2075 per share. This represents a $0.83 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date was Wednesday, February 11th. Kenvue’s dividend payout ratio (DPR) is currently 107.79%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on KVUE shares. Argus raised shares of Kenvue to a “hold” rating in a research report on Friday, March 6th. Citigroup increased their target price on shares of Kenvue from $18.00 to $20.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 18th. Barclays raised their price target on shares of Kenvue from $18.00 to $19.00 and gave the stock an “equal weight” rating in a report on Friday, March 6th. UBS Group upped their price objective on shares of Kenvue from $17.00 to $19.00 and gave the company a “neutral” rating in a report on Wednesday, February 18th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Kenvue in a research report on Friday, January 9th. Three analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the company’s stock. According to data from MarketBeat, Kenvue has a consensus rating of “Hold” and a consensus target price of $19.58.

Kenvue Company Profile

Kenvue is a consumer health company that was established as a standalone, publicly traded business after separating from Johnson & Johnson. Listed on the New York Stock Exchange under the symbol KVUE, Kenvue focuses on the development, manufacture, marketing and distribution of consumer health and personal care products across a range of categories including skin and beauty care, baby care, oral care, wound care and over?the?counter medicines.

The company owns and markets a portfolio of widely recognized consumer brands, including names familiar to global shoppers across retail and pharmacy channels.