Public Employees Retirement System of Ohio Sells 36,286 Shares of Kenvue Inc. (NYSE:KVUE)

Public Employees Retirement System of Ohio cut its stake in shares of Kenvue Inc. (NYSE:KVUE) by 4.9% in the 3rd quarter, HoldingsChannel reports. The fund owned 703,160 shares of the company’s stock after selling 36,286 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Kenvue were worth $16,264,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Riverview Trust Co purchased a new stake in Kenvue in the 3rd quarter worth approximately $30,000. Ashton Thomas Securities LLC purchased a new stake in Kenvue in the 3rd quarter worth approximately $35,000. Deseret Mutual Benefit Administrators lifted its holdings in Kenvue by 49.7% in the 3rd quarter. Deseret Mutual Benefit Administrators now owns 1,960 shares of the company’s stock worth $45,000 after buying an additional 651 shares during the period. Studio Investment Management LLC lifted its holdings in Kenvue by 52.1% in the 2nd quarter. Studio Investment Management LLC now owns 2,468 shares of the company’s stock worth $45,000 after buying an additional 845 shares during the period. Finally, Brooklyn Investment Group purchased a new stake in Kenvue in the 3rd quarter worth approximately $71,000. 97.64% of the stock is currently owned by hedge funds and other institutional investors.

Kenvue Trading Down 0.3 %

KVUE opened at $22.74 on Wednesday. The stock has a market cap of $43.60 billion, a price-to-earnings ratio of 41.35, a P/E/G ratio of 2.07 and a beta of 1.37. The stock’s 50 day moving average price is $22.96 and its 200-day moving average price is $21.15. Kenvue Inc. has a one year low of $17.67 and a one year high of $24.46. 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 announced its quarterly earnings results on Thursday, November 7th. The company reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.01. The firm had revenue of $3.90 billion during the quarter, compared to analyst estimates of $3.92 billion. Kenvue had a return on equity of 21.43% and a net margin of 6.88%. Kenvue’s quarterly revenue was down .4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.31 earnings per share. On average, equities analysts forecast that Kenvue Inc. will post 1.07 EPS for the current year.

Kenvue Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th were issued a dividend of $0.205 per share. The ex-dividend date of this dividend was Wednesday, November 13th. This represents a $0.82 dividend on an annualized basis and a yield of 3.61%. Kenvue’s dividend payout ratio is currently 149.09%.

Analyst Upgrades and Downgrades

KVUE has been the subject of several research analyst reports. Royal Bank of Canada cut Kenvue from an “outperform” rating to a “sector perform” rating and set a $24.00 price objective for the company. in a report on Tuesday, September 24th. Piper Sandler raised their target price on 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. raised their price objective on Kenvue from $24.00 to $25.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. Bank of America raised their price target on Kenvue from $24.00 to $27.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Finally, Jefferies Financial Group began coverage on Kenvue in a research note on Tuesday, September 24th. They issued a “buy” rating and a $27.00 price target on the stock. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Kenvue has an average rating of “Hold” and a consensus target price of $22.64.

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.