New York State Common Retirement Fund Has $51 Million Position in Kenvue Inc. (NYSE:KVUE)

New York State Common Retirement Fund increased its stake in Kenvue Inc. (NYSE:KVUE) by 4.1% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 2,368,935 shares of the company’s stock after purchasing an additional 94,284 shares during the quarter. New York State Common Retirement Fund owned approximately 0.12% of Kenvue worth $51,003,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in KVUE. Vanguard Group Inc. bought a new stake in shares of Kenvue during the third quarter valued at approximately $2,944,816,000. FMR LLC increased its position in shares of Kenvue by 572.1% during the third quarter. FMR LLC now owns 89,182,980 shares of the company’s stock valued at $1,790,794,000 after purchasing an additional 75,913,107 shares during the period. Wellington Management Group LLP increased its position in shares of Kenvue by 576.1% during the third quarter. Wellington Management Group LLP now owns 71,686,830 shares of the company’s stock valued at $1,439,472,000 after purchasing an additional 61,084,123 shares during the period. Massachusetts Financial Services Co. MA increased its position in shares of Kenvue by 227.7% during the third quarter. Massachusetts Financial Services Co. MA now owns 61,091,189 shares of the company’s stock valued at $1,226,711,000 after purchasing an additional 42,449,470 shares during the period. Finally, Morgan Stanley grew its position in Kenvue by 4,057.4% in the third quarter. Morgan Stanley now owns 31,162,614 shares of the company’s stock valued at $625,745,000 after acquiring an additional 30,413,040 shares during the period. 97.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. JPMorgan Chase & Co. lowered their price target on Kenvue from $25.00 to $24.00 and set an “overweight” rating on the stock in a research report on Friday, February 9th. The Goldman Sachs Group started coverage on Kenvue in a research note on Friday, March 1st. They issued a “neutral” rating and a $20.00 target price for the company. Royal Bank of Canada lowered their target price on Kenvue from $25.00 to $24.00 and set an “outperform” rating for the company in a research note on Friday, February 9th. William Blair started coverage on Kenvue in a report on Wednesday, April 3rd. They issued a “market perform” rating on the stock. Finally, Sanford C. Bernstein started coverage on Kenvue in a report on Thursday, April 11th. They issued an “underperform” rating and a $18.00 price target on the stock. One analyst has rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Kenvue has a consensus rating of “Hold” and a consensus price target of $24.85.

Kenvue Trading Down 1.1 %

Shares of KVUE opened at $19.36 on Wednesday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.78 and a current ratio of 1.12. Kenvue Inc. has a 1 year low of $17.82 and a 1 year high of $27.80. The stock’s 50-day moving average price is $19.84 and its two-hundred day moving average price is $20.15.

Kenvue (NYSE:KVUE) last released its quarterly earnings results on Thursday, February 8th. The company reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.03. The company had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.78 billion. Kenvue had a return on equity of 15.62% and a net margin of 9.87%. The business’s quarterly revenue was down 2.7% on a year-over-year basis. Equities analysts expect that Kenvue Inc. will post 1.15 EPS for the current year.

Kenvue Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 28th. Stockholders of record on Wednesday, February 14th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.13%. The ex-dividend date was Tuesday, February 13th.

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.