Kenvue (NYSE:KVUE) Sets New 12-Month High – Here’s What Happened

Kenvue Inc. (NYSE:KVUE) reached a new 52-week high on Tuesday . The stock traded as high as $23.57 and last traded at $23.39, with a volume of 4794998 shares changing hands. The stock had previously closed at $23.04.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft increased their target price on Kenvue from $23.00 to $24.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Royal Bank of Canada cut Kenvue from an “outperform” rating to a “sector perform” rating and set a $24.00 price objective on the stock. in a research note on Tuesday, September 24th. Jefferies Financial Group started coverage on Kenvue in a research report on Tuesday, September 24th. They set a “buy” rating and a $27.00 target price for the company. Bank of America raised their price target on Kenvue from $24.00 to $27.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Finally, Piper Sandler increased their target price on shares of Kenvue from $20.00 to $21.00 and gave the stock a “neutral” rating in a report on Monday, September 23rd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $22.64.

Kenvue Trading Up 0.8 %

The company has a debt-to-equity ratio of 0.69, a current ratio of 0.99 and a quick ratio of 0.68. The company’s 50 day simple moving average is $22.55 and its two-hundred day simple moving average is $20.45. The company has a market cap of $44.49 billion, a PE ratio of 39.72, a price-to-earnings-growth ratio of 2.97 and a beta of 1.36.

Kenvue (NYSE:KVUE) last released its earnings results on Tuesday, August 6th. The company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.04. Kenvue had a return on equity of 21.80% and a net margin of 7.23%. The company had revenue of $4 billion during the quarter, compared to the consensus estimate of $3.93 billion. During the same period in the previous year, the company posted $0.32 EPS. Kenvue’s revenue was down .3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Kenvue Inc. will post 1.08 EPS for the current fiscal year.

Kenvue Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th will be given a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a dividend yield of 3.53%. The ex-dividend date of this dividend is Wednesday, November 13th. Kenvue’s dividend payout ratio is presently 141.38%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in KVUE. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of Kenvue during the first quarter valued at $1,050,000. Lorne Steinberg Wealth Management Inc. raised its stake in shares of Kenvue by 59.0% during the second quarter. Lorne Steinberg Wealth Management Inc. now owns 154,690 shares of the company’s stock valued at $2,812,000 after purchasing an additional 57,375 shares during the period. Kennon Green & Company LLC lifted its holdings in Kenvue by 140.7% in the 2nd quarter. Kennon Green & Company LLC now owns 159,106 shares of the company’s stock worth $2,893,000 after buying an additional 93,008 shares in the last quarter. Czech National Bank raised its position in shares of Kenvue by 20.3% in the 2nd quarter. Czech National Bank now owns 364,886 shares of the company’s stock valued at $6,634,000 after purchasing an additional 61,635 shares in the last quarter. Finally, Crestwood Advisors Group LLC increased its stake in Kenvue by 14.8% during the second quarter. Crestwood Advisors Group LLC now owns 1,537,348 shares of the company’s stock valued at $27,950,000 after purchasing an additional 198,607 shares during the last quarter. Hedge funds and other institutional investors own 97.64% of the company’s stock.

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.