Kenvue Inc. (NYSE:KVUE) Plans Dividend Increase – $0.21 Per Share

Kenvue Inc. (NYSE:KVUE) declared a quarterly dividend on Thursday, July 25th, RTT News reports. Investors of record on Wednesday, August 14th will be paid a dividend of 0.205 per share on Wednesday, August 28th. This represents a $0.82 dividend on an annualized basis and a yield of 4.49%. This is a boost from Kenvue’s previous quarterly dividend of $0.20.

Kenvue has a dividend payout ratio of 65.6% meaning its dividend is sufficiently covered by earnings. Analysts expect Kenvue to earn $1.25 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 64.0%.

Kenvue Stock Performance

Shares of NYSE KVUE opened at $18.25 on Friday. The company has a market cap of $34.95 billion, a PE ratio of 23.40, a PEG ratio of 1.99 and a beta of 1.40. The company has a quick ratio of 0.68, a current ratio of 0.99 and a debt-to-equity ratio of 0.66. The firm’s 50-day moving average price is $18.63 and its 200-day moving average price is $19.58. Kenvue has a 52-week low of $17.67 and a 52-week high of $25.23.

Kenvue (NYSE:KVUE) last issued its quarterly earnings results on Tuesday, May 7th. The company reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.03. Kenvue had a net margin of 9.63% and a return on equity of 21.06%. The business had revenue of $2.89 billion for the quarter, compared to analysts’ expectations of $3.79 billion. The business’s quarterly revenue was down 24.9% compared to the same quarter last year. As a group, analysts anticipate that Kenvue will post 1.13 EPS for the current year.

Wall Street Analyst Weigh In

KVUE has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft cut their price objective on Kenvue from $24.00 to $23.00 and set a “buy” rating for the company in a research note on Thursday. Citigroup reduced their price objective on shares of Kenvue from $21.00 to $20.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. JPMorgan Chase & Co. reduced their price target on shares of Kenvue from $23.00 to $22.00 and set an “overweight” rating on the stock in a report on Monday. HSBC boosted their price target on shares of Kenvue from $20.00 to $21.00 and gave the stock a “hold” rating in a research note on Wednesday, May 8th. Finally, William Blair began coverage on Kenvue in a report on Wednesday, April 3rd. They issued a “market perform” rating on the stock. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $22.45.

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.