Retirement Systems of Alabama Has $9.62 Million Holdings in Kenvue Inc. (NYSE:KVUE)

Retirement Systems of Alabama trimmed its stake in shares of Kenvue Inc. (NYSE:KVUE) by 1.5% during the third quarter, Holdings Channel.com reports. The firm owned 416,058 shares of the company’s stock after selling 6,332 shares during the period. Retirement Systems of Alabama’s holdings in Kenvue were worth $9,623,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. FMR LLC lifted its holdings in Kenvue by 2.3% during the 3rd quarter. FMR LLC now owns 137,915,493 shares of the company’s stock worth $3,189,985,000 after buying an additional 3,075,019 shares in the last quarter. State Street Corp raised its position in shares of Kenvue by 16.8% during the third quarter. State Street Corp now owns 127,213,940 shares of the company’s stock worth $2,942,458,000 after acquiring an additional 18,283,473 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of Kenvue by 8.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 86,979,341 shares of the company’s stock valued at $2,011,832,000 after acquiring an additional 7,115,374 shares during the period. Geode Capital Management LLC boosted its holdings in Kenvue by 0.9% in the third quarter. Geode Capital Management LLC now owns 44,677,077 shares of the company’s stock valued at $1,029,810,000 after acquiring an additional 399,846 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in Kenvue by 21.0% in the second quarter. Bank of New York Mellon Corp now owns 43,444,085 shares of the company’s stock valued at $789,813,000 after acquiring an additional 7,546,362 shares during the last quarter. 97.64% of the stock is owned by institutional investors.

Kenvue Stock Performance

KVUE stock opened at $22.06 on Tuesday. Kenvue Inc. has a 1-year low of $17.67 and a 1-year high of $24.46. 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 firm has a market cap of $42.29 billion, a PE ratio of 40.13, a P/E/G ratio of 2.02 and a beta of 1.36. The business’s 50-day moving average price is $22.95 and its two-hundred day moving average price is $21.22.

Kenvue (NYSE:KVUE) last released its quarterly earnings data 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 return on equity of 21.43% and a net margin of 6.88%. The business had revenue of $3.90 billion for the quarter, compared to analysts’ expectations of $3.92 billion. During the same quarter in the previous year, the business posted $0.31 EPS. Kenvue’s revenue for the quarter 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 year.

Kenvue Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th were issued a $0.205 dividend. This represents a $0.82 annualized dividend and a dividend yield of 3.72%. The ex-dividend date was Wednesday, November 13th. Kenvue’s dividend payout ratio (DPR) is presently 149.09%.

Analyst Ratings Changes

KVUE has been the topic of a number of research reports. Bank of America upped their target price on shares of Kenvue from $24.00 to $27.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Barclays raised shares of Kenvue to a “hold” rating in a research note on Thursday, December 12th. Piper Sandler raised their price objective on shares of Kenvue from $20.00 to $21.00 and gave the company a “neutral” rating in a research note on Monday, September 23rd. JPMorgan Chase & Co. lifted their target price on shares of Kenvue from $24.00 to $25.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. Finally, Royal Bank of Canada raised Kenvue from a “hold” rating to a “moderate buy” rating in a research note on Monday, December 9th. One analyst has rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price 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.