Illinois Municipal Retirement Fund Trims Stock Holdings in Kenvue Inc. (NYSE:KVUE)

Illinois Municipal Retirement Fund trimmed its position in Kenvue Inc. (NYSE:KVUE) by 3.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 352,519 shares of the company’s stock after selling 12,915 shares during the period. Illinois Municipal Retirement Fund’s holdings in Kenvue were worth $8,453,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Fulton Bank N.A. grew its stake in Kenvue by 0.6% in the first quarter. Fulton Bank N.A. now owns 78,888 shares of the company’s stock worth $1,892,000 after purchasing an additional 465 shares during the period. Scott & Selber Inc. grew its stake in Kenvue by 0.4% in the first quarter. Scott & Selber Inc. now owns 106,621 shares of the company’s stock worth $2,557,000 after purchasing an additional 475 shares during the period. SRS Capital Advisors Inc. grew its stake in shares of Kenvue by 67.4% in the fourth quarter. SRS Capital Advisors Inc. now owns 1,418 shares of the company’s stock worth $30,000 after acquiring an additional 571 shares during the last quarter. Keystone Financial Group grew its stake in shares of Kenvue by 4.8% in the fourth quarter. Keystone Financial Group now owns 12,736 shares of the company’s stock worth $272,000 after acquiring an additional 578 shares during the last quarter. Finally, Transatlantique Private Wealth LLC grew its stake in shares of Kenvue by 5.7% in the fourth quarter. Transatlantique Private Wealth LLC now owns 10,680 shares of the company’s stock worth $228,000 after acquiring an additional 580 shares during the last quarter. 97.64% of the stock is owned by hedge funds and other institutional investors.

Kenvue Trading Down 1.1%

Shares of NYSE:KVUE opened at $20.89 on Friday. The company has a market cap of $40.07 billion, a P/E ratio of 37.97, a PEG ratio of 3.28 and a beta of 0.98. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.86 and a quick ratio of 0.60. Kenvue Inc. has a 1 year low of $17.67 and a 1 year high of $25.17. The stock’s fifty day moving average price is $22.85 and its 200-day moving average price is $22.37.

Kenvue (NYSE:KVUE) last posted its earnings results on Thursday, May 8th. The company reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.01. Kenvue had a return on equity of 20.87% and a net margin of 6.90%. The company had revenue of $3.74 billion for the quarter, compared to the consensus estimate of $3.69 billion. During the same quarter in the prior year, the company earned $0.28 earnings per share. Kenvue’s revenue was down 3.9% on a year-over-year basis. Sell-side analysts expect that Kenvue Inc. will post 1.14 earnings per share for the current year.

Kenvue Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 28th. Shareholders of record on Wednesday, May 14th were issued a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a yield of 3.93%. The ex-dividend date was Wednesday, May 14th. Kenvue’s dividend payout ratio is 149.09%.

Wall Street Analysts Forecast Growth

KVUE has been the topic of a number of recent research reports. Evercore ISI initiated coverage on Kenvue in a research note on Monday, March 24th. They issued an “in-line” rating and a $25.00 target price on the stock. Citigroup reissued a “neutral” rating on shares of Kenvue in a research note on Friday, June 13th. Canaccord Genuity Group increased their target price on Kenvue from $24.00 to $29.00 and gave the stock a “buy” rating in a research note on Wednesday, March 5th. UBS Group increased their target price on Kenvue from $24.00 to $25.00 and gave the stock a “neutral” rating in a research note on Friday, May 9th. Finally, Redburn Atlantic initiated coverage on Kenvue in a research note on Thursday, April 10th. They issued a “neutral” rating and a $23.50 target price on the stock. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Kenvue has an average rating of “Hold” and a consensus target price of $25.33.

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.