Kenvue Inc. (NYSE:KVUE) Sees Significant Drop in Short Interest

Kenvue Inc. (NYSE:KVUE) was the recipient of a large decline in short interest during the month of January. As of January 15th, there was short interest totalling 35,720,000 shares, a decline of 8.6% from the December 31st total of 39,060,000 shares. Based on an average daily trading volume, of 13,550,000 shares, the days-to-cover ratio is currently 2.6 days. Currently, 1.9% of the company’s stock are sold short.

Kenvue Price Performance

NYSE KVUE traded down $0.07 during mid-day trading on Monday, hitting $21.22. The stock had a trading volume of 9,693,558 shares, compared to its average volume of 11,666,448. Kenvue has a 52-week low of $17.67 and a 52-week high of $24.46. The company has a market cap of $40.69 billion, a price-to-earnings ratio of 38.59, a P/E/G ratio of 2.05 and a beta of 1.45. The company has a quick ratio of 0.69, a current ratio of 1.00 and a debt-to-equity ratio of 0.66. The company has a 50 day simple moving average of $21.90 and a 200 day simple moving average of $21.92.

Kenvue (NYSE:KVUE) last posted its quarterly earnings data on Thursday, November 7th. The company reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.01. The company had revenue of $3.90 billion during the quarter, compared to the consensus estimate of $3.92 billion. Kenvue had a net margin of 6.88% and a return on equity of 21.43%. The company’s quarterly revenue was down .4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.31 EPS. Equities analysts forecast that Kenvue will post 1.14 EPS for the current fiscal year.

Kenvue Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th will be issued a $0.205 dividend. This represents a $0.82 annualized dividend and a yield of 3.86%. The ex-dividend date of this dividend is Wednesday, February 12th. Kenvue’s dividend payout ratio is currently 149.09%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on KVUE. Barclays decreased their target price on shares of Kenvue from $23.00 to $21.00 and set an “equal weight” rating for the company in a research note on Friday, January 17th. Deutsche Bank Aktiengesellschaft cut shares of Kenvue from a “buy” rating to a “hold” rating and decreased their target price for the company from $25.00 to $24.00 in a research report on Thursday, December 12th. JPMorgan Chase & Co. increased their price target on shares of Kenvue from $24.00 to $25.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. Bank of America increased their price objective on shares of Kenvue from $24.00 to $27.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Finally, Piper Sandler upgraded shares of Kenvue from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $21.00 to $26.00 in a research note on Monday, January 6th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Kenvue has a consensus rating of “Hold” and a consensus price target of $23.08.

Institutional Investors Weigh In On Kenvue

A number of hedge funds have recently added to or reduced their stakes in the stock. Northwestern Mutual Wealth Management Co. lifted its holdings in Kenvue by 13.7% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 62,687 shares of the company’s stock valued at $1,140,000 after acquiring an additional 7,564 shares during the last quarter. B. Riley Wealth Advisors Inc. lifted its position in shares of Kenvue by 7.2% during the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 27,278 shares of the company’s stock worth $496,000 after purchasing an additional 1,838 shares during the last quarter. Sanctuary Advisors LLC acquired a new stake in shares of Kenvue during the 2nd quarter worth approximately $3,859,000. Massmutual Trust Co. FSB ADV grew its position in Kenvue by 6.2% in the third quarter. Massmutual Trust Co. FSB ADV now owns 8,400 shares of the company’s stock valued at $194,000 after acquiring an additional 492 shares during the period. Finally, AMF Tjanstepension AB raised its holdings in shares of Kenvue by 187.3% in the third quarter. AMF Tjanstepension AB now owns 120,477 shares of the company’s stock valued at $2,787,000 after buying an additional 78,540 shares during the last quarter. 97.64% of the stock is currently owned by institutional investors.

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.