Kenvue (NYSE:KVUE) Hits New 12-Month High – What’s Next?

Kenvue Inc. (NYSE:KVUE) reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $24.46 and last traded at $24.12, with a volume of 12313208 shares. The stock had previously closed at $24.24.

Analyst Ratings Changes

A number of brokerages have recently weighed in on KVUE. Royal Bank of Canada lowered shares of Kenvue from an “outperform” rating to a “sector perform” rating and set a $24.00 price objective on the stock. in a report on Tuesday, September 24th. JPMorgan Chase & Co. increased their price objective on Kenvue from $24.00 to $25.00 and gave the company an “overweight” rating in a report on Friday, October 11th. Bank of America upped their price objective on shares of Kenvue from $24.00 to $27.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Piper Sandler increased their price target on Kenvue from $20.00 to $21.00 and gave the stock a “neutral” rating in a research report on Monday, September 23rd. Finally, Jefferies Financial Group began coverage on Kenvue in a report on Tuesday, September 24th. They issued a “buy” rating and a $27.00 price objective for the company. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $22.64.

Kenvue Stock Up 0.0 %

The company has a debt-to-equity ratio of 0.66, a current ratio of 1.00 and a quick ratio of 0.69. The firm has a 50-day simple moving average of $22.92 and a two-hundred day simple moving average of $20.96. The company has a market cap of $46.26 billion, a PE ratio of 43.87, a P/E/G ratio of 2.20 and a beta of 1.36.

Kenvue (NYSE:KVUE) last released its 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. Kenvue had a net margin of 6.88% and a return on equity of 21.43%. The company had revenue of $3.90 billion for the quarter, compared to analyst estimates of $3.92 billion. During the same period in the prior year, the firm earned $0.31 EPS. The firm’s quarterly revenue was down .4% on a year-over-year basis. Research analysts anticipate that Kenvue Inc. will post 1.07 earnings per share for the current fiscal year.

Kenvue Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th were given a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a yield of 3.40%. The ex-dividend date of this dividend was Wednesday, November 13th. Kenvue’s dividend payout ratio (DPR) is presently 149.09%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Advisors Asset Management Inc. purchased a new position in Kenvue in the 1st quarter worth approximately $206,000. Janus Henderson Group PLC grew its holdings in Kenvue by 53.7% during the 1st quarter. Janus Henderson Group PLC now owns 165,162 shares of the company’s stock valued at $3,541,000 after purchasing an additional 57,679 shares in the last quarter. Tidal Investments LLC grew its holdings in Kenvue by 47.5% during the 1st quarter. Tidal Investments LLC now owns 131,764 shares of the company’s stock valued at $2,828,000 after purchasing an additional 42,418 shares in the last quarter. LRI Investments LLC purchased a new stake in Kenvue during the 1st quarter worth $106,000. Finally, Swedbank AB purchased a new position in Kenvue in the 1st quarter valued at about $27,856,000. 97.64% of the stock is owned by hedge funds and other institutional investors.

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.