Maryland State Retirement & Pension System Trims Stock Holdings in Kenvue Inc. (NYSE:KVUE)

Maryland State Retirement & Pension System decreased its holdings in Kenvue Inc. (NYSE:KVUE) by 6.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 102,254 shares of the company’s stock after selling 7,238 shares during the period. Maryland State Retirement & Pension System’s holdings in Kenvue were worth $2,183,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. FMR LLC grew its stake in Kenvue by 2.3% during the third quarter. FMR LLC now owns 137,915,493 shares of the company’s stock valued at $3,189,985,000 after acquiring an additional 3,075,019 shares in the last quarter. State Street Corp lifted its position in Kenvue by 16.8% during the third quarter. State Street Corp now owns 127,213,940 shares of the company’s stock valued at $2,942,458,000 after purchasing an additional 18,283,473 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of Kenvue by 8.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 86,979,341 shares of the company’s stock worth $2,011,832,000 after acquiring an additional 7,115,374 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Kenvue by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 44,677,077 shares of the company’s stock worth $1,029,810,000 after acquiring an additional 399,846 shares during the last quarter. Finally, Harris Associates L P lifted its holdings in shares of Kenvue by 7.5% in the 3rd quarter. Harris Associates L P now owns 31,459,511 shares of the company’s stock worth $727,658,000 after acquiring an additional 2,186,114 shares during the last quarter. Hedge funds and other institutional investors own 97.64% of the company’s stock.

Kenvue Stock Performance

Shares of KVUE stock opened at $23.41 on Friday. Kenvue Inc. has a one year low of $17.67 and a one year high of $24.46. The company’s 50-day moving average is $22.03 and its 200 day moving average is $22.42. The company has a market capitalization of $44.74 billion, a price-to-earnings ratio of 44.17, a price-to-earnings-growth ratio of 2.62 and a beta of 1.25. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.69 and a current ratio of 1.00.

Kenvue (NYSE:KVUE) last posted its earnings results on Thursday, February 6th. The company reported $0.26 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.26. Kenvue had a net margin of 6.66% and a return on equity of 20.97%. Sell-side analysts expect that Kenvue Inc. will post 1.14 EPS for the current fiscal year.

Kenvue Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th were paid a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a yield of 3.50%. The ex-dividend date of this dividend was Wednesday, February 12th. Kenvue’s dividend payout ratio is currently 154.72%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on KVUE. Royal Bank of Canada reiterated a “sector perform” rating and set a $24.00 price target on shares of Kenvue in a report on Monday, February 3rd. UBS Group lowered their price target on shares of Kenvue from $23.00 to $21.00 and set a “neutral” rating for the company in a report on Friday, February 7th. Citigroup reduced their price objective on shares of Kenvue from $25.00 to $21.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 15th. Barclays reduced their price objective on shares of Kenvue from $23.00 to $21.00 and set an “equal weight” rating on the stock in a research report on Friday, January 17th. Finally, Canaccord Genuity Group boosted their price objective on shares of Kenvue from $24.00 to $29.00 and gave the company a “buy” rating in a research report on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $23.75.

Kenvue Company 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.