Kenvue Inc. (NYSE:KVUE) Stake Boosted by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund raised its position in shares of Kenvue Inc. (NYSE:KVUE) by 704.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 301,913 shares of the company’s stock after buying an additional 264,397 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Kenvue were worth $6,500,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Beaumont Financial Advisors LLC boosted its position in shares of Kenvue by 3.0% in the fourth quarter. Beaumont Financial Advisors LLC now owns 17,532 shares of the company’s stock worth $377,000 after buying an additional 509 shares during the period. Pinnacle Bancorp Inc. boosted its position in Kenvue by 51.3% during the 4th quarter. Pinnacle Bancorp Inc. now owns 1,552 shares of the company’s stock worth $33,000 after acquiring an additional 526 shares during the period. Dfpg Investments LLC grew its stake in Kenvue by 2.3% during the 4th quarter. Dfpg Investments LLC now owns 26,659 shares of the company’s stock valued at $567,000 after acquiring an additional 589 shares in the last quarter. Mutual Advisors LLC increased its holdings in shares of Kenvue by 6.1% in the 4th quarter. Mutual Advisors LLC now owns 10,606 shares of the company’s stock valued at $228,000 after purchasing an additional 612 shares during the period. Finally, Baron Wealth Management LLC lifted its position in shares of Kenvue by 7.5% in the fourth quarter. Baron Wealth Management LLC now owns 12,915 shares of the company’s stock worth $278,000 after purchasing an additional 899 shares in the last quarter. 97.64% of the stock is currently owned by institutional investors and hedge funds.

Kenvue Price Performance

NYSE:KVUE opened at $19.36 on Wednesday. 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 Inc. has a 1 year low of $17.82 and a 1 year high of $27.80. The firm’s fifty day simple moving average is $19.84 and its 200 day simple moving average is $20.15.

Kenvue (NYSE:KVUE) last issued its quarterly 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 return on equity of 15.62% and a net margin of 9.87%. The company had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.78 billion. The firm’s quarterly revenue was down 2.7% on a year-over-year basis. As a group, sell-side analysts expect that Kenvue Inc. will post 1.15 earnings per share for the current fiscal year.

Kenvue Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 28th. Shareholders of record on Wednesday, February 14th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 4.13%. The ex-dividend date was Tuesday, February 13th.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on KVUE shares. William Blair started coverage on shares of Kenvue in a report on Wednesday, April 3rd. They set a “market perform” rating on the stock. JPMorgan Chase & Co. dropped their target price on Kenvue from $25.00 to $24.00 and set an “overweight” rating on the stock in a research report on Friday, February 9th. The Goldman Sachs Group assumed coverage on Kenvue in a report on Friday, March 1st. They set a “neutral” rating and a $20.00 price target for the company. Sanford C. Bernstein started coverage on Kenvue in a research note on Thursday, April 11th. They issued an “underperform” rating and a $18.00 price target for the company. Finally, Royal Bank of Canada reduced their target price on shares of Kenvue from $25.00 to $24.00 and set an “outperform” rating for the company in a research note on Friday, February 9th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $24.85.

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.