Kenvue (NYSE:KVUE) Sets New 1-Year High – Here’s Why

Shares of Kenvue Inc. (NYSE:KVUE) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $24.23 and last traded at $24.23, with a volume of 2291582 shares traded. The stock had previously closed at $23.78.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on KVUE shares. JPMorgan Chase & Co. increased their target price on Kenvue from $24.00 to $25.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. Piper Sandler raised their price target on shares of Kenvue from $20.00 to $21.00 and gave the stock a “neutral” rating in a research note on Monday, September 23rd. Deutsche Bank Aktiengesellschaft increased their target price on shares of Kenvue from $23.00 to $24.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. Royal Bank of Canada downgraded shares of Kenvue from an “outperform” rating to a “sector perform” rating and set a $24.00 price objective for the company. in a research note on Tuesday, September 24th. Finally, UBS Group lifted their target price on Kenvue from $20.00 to $22.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. 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 stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $22.64.

Kenvue Price Performance

The company has a current ratio of 1.00, a quick ratio of 0.69 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $46.17 billion, a P/E ratio of 43.78, a P/E/G ratio of 2.19 and a beta of 1.36. The company has a 50 day moving average price of $22.83 and a 200 day moving average price of $20.82.

Kenvue (NYSE:KVUE) last released its quarterly earnings data on Thursday, November 7th. The company reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.01. The firm had revenue of $3.90 billion during the quarter, compared to analysts’ expectations of $3.92 billion. Kenvue had a net margin of 6.88% and a return on equity of 21.43%. The company’s revenue for the quarter was down .4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.31 earnings per share. On average, equities analysts predict that Kenvue Inc. will post 1.07 EPS for the current fiscal year.

Kenvue Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th will be paid a dividend of $0.205 per share. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 3.41%. Kenvue’s dividend payout ratio (DPR) is currently 149.09%.

Institutional Investors Weigh In On Kenvue

Several institutional investors have recently made changes to their positions in KVUE. Riverview Trust Co bought a new stake in shares of Kenvue during the 3rd quarter valued at $30,000. Ashton Thomas Securities LLC acquired a new position in shares of Kenvue in the 3rd quarter valued at approximately $35,000. Studio Investment Management LLC boosted its position in shares of Kenvue by 52.1% during the 2nd quarter. Studio Investment Management LLC now owns 2,468 shares of the company’s stock worth $45,000 after acquiring an additional 845 shares in the last quarter. Deseret Mutual Benefit Administrators increased its stake in Kenvue by 49.7% in the third quarter. Deseret Mutual Benefit Administrators now owns 1,960 shares of the company’s stock valued at $45,000 after acquiring an additional 651 shares during the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new position in Kenvue during the second quarter valued at approximately $61,000. 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.