State of Michigan Retirement System Boosts Stock Holdings in Kenvue Inc. (NYSE:KVUE)

State of Michigan Retirement System raised its holdings in shares of Kenvue Inc. (NYSE:KVUEFree Report) by 4.1% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 492,039 shares of the company’s stock after acquiring an additional 19,600 shares during the period. State of Michigan Retirement System’s holdings in Kenvue were worth $10,594,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in KVUE. Princeton Global Asset Management LLC boosted its holdings in shares of Kenvue by 8.5% during the fourth quarter. Princeton Global Asset Management LLC now owns 171,356 shares of the company’s stock worth $3,689,000 after purchasing an additional 13,445 shares during the period. Oak Thistle LLC purchased a new stake in shares of Kenvue during the fourth quarter worth about $1,316,000. Pinnacle Financial Partners Inc boosted its holdings in shares of Kenvue by 12.1% during the fourth quarter. Pinnacle Financial Partners Inc now owns 14,539 shares of the company’s stock worth $313,000 after purchasing an additional 1,570 shares during the period. Essex Savings Bank boosted its holdings in shares of Kenvue by 15.1% during the fourth quarter. Essex Savings Bank now owns 17,794 shares of the company’s stock worth $383,000 after purchasing an additional 2,335 shares during the period. Finally, Parsons Capital Management Inc. RI boosted its holdings in shares of Kenvue by 13.4% during the fourth quarter. Parsons Capital Management Inc. RI now owns 124,830 shares of the company’s stock worth $2,688,000 after purchasing an additional 14,718 shares during the period. 97.64% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on KVUE shares. Royal Bank of Canada dropped their target price on shares of Kenvue from $25.00 to $24.00 and set an “outperform” rating for the company in a report on Friday, February 9th. UBS Group increased their target price on shares of Kenvue from $20.00 to $23.00 and gave the stock a “neutral” rating in a report on Tuesday, December 19th. JPMorgan Chase & Co. dropped their target price on shares of Kenvue from $25.00 to $24.00 and set an “overweight” rating for the company in a report on Friday, February 9th. Finally, The Goldman Sachs Group began coverage on shares of Kenvue in a report on Friday, March 1st. They issued a “neutral” rating and a $20.00 price objective for the company. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Kenvue has a consensus rating of “Moderate Buy” and an average price target of $25.42.

Check Out Our Latest Analysis on KVUE

Kenvue Stock Down 1.9 %

KVUE stock opened at $20.82 on Wednesday. The firm has a 50 day moving average price of $20.04 and a 200-day moving average price of $20.23. Kenvue Inc. has a 52-week low of $17.82 and a 52-week high of $27.80. The company has a current ratio of 1.12, a quick ratio of 0.78 and a debt-to-equity ratio of 0.69.

Kenvue (NYSE:KVUEGet Free Report) last released its earnings results on Thursday, February 8th. The company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.03. Kenvue had a net margin of 9.87% and a return on equity of 15.62%. The firm had revenue of $3.67 billion during the quarter, compared to analyst estimates of $3.78 billion. The firm’s revenue was down 2.7% compared to the same quarter last year. As a group, research analysts forecast that Kenvue Inc. will post 1.17 EPS for the current year.

Kenvue Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 28th. Stockholders of record on Wednesday, February 14th were issued a dividend of $0.20 per share. The ex-dividend date was Tuesday, February 13th. This represents a $0.80 annualized dividend and a dividend yield of 3.84%.

About Kenvue

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Kenvue (NYSE:KVUE)

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