Kenvue (NYSE:KVUE) Reaches New 12-Month High at $23.54

Kenvue Inc. (NYSE:KVUE)’s stock price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $23.54 and last traded at $23.45, with a volume of 572035 shares traded. The stock had previously closed at $23.39.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on KVUE shares. Deutsche Bank Aktiengesellschaft increased their price objective on Kenvue from $23.00 to $24.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. Citigroup decreased their target price on Kenvue from $21.00 to $20.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. UBS Group lifted their price target on Kenvue from $20.00 to $22.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $24.00 price objective on shares of Kenvue in a research note on Wednesday, August 7th. Finally, JPMorgan Chase & Co. boosted their target price on Kenvue from $22.00 to $24.00 and gave the company an “overweight” rating in a research note on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $21.44.

Kenvue Stock Down 0.7 %

The stock’s 50 day simple moving average is $20.41 and its two-hundred day simple moving average is $19.82. The firm has a market cap of $44.49 billion, a P/E ratio of 29.99, a P/E/G ratio of 2.92 and a beta of 1.40. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.99 and a quick ratio of 0.68.

Kenvue (NYSE:KVUE) last released its earnings results on Tuesday, August 6th. The company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.04. The firm had revenue of $4 billion for the quarter, compared to analysts’ expectations of $3.93 billion. Kenvue had a return on equity of 21.80% and a net margin of 7.23%. The company’s quarterly revenue was down .3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.32 earnings per share. As a group, research analysts forecast that Kenvue Inc. will post 1.08 earnings per share for the current year.

Kenvue Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 28th. Investors of record on Wednesday, August 14th were issued a $0.205 dividend. This is a positive change from Kenvue’s previous quarterly dividend of $0.20. This represents a $0.82 dividend on an annualized basis and a yield of 3.53%. The ex-dividend date of this dividend was Wednesday, August 14th. Kenvue’s payout ratio is presently 105.13%.

Institutional Trading of Kenvue

Large investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in Kenvue by 12.0% during the first quarter. Vanguard Group Inc. now owns 166,789,085 shares of the company’s stock valued at $3,579,294,000 after acquiring an additional 17,908,497 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Kenvue by 23.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 134,565,333 shares of the company’s stock worth $2,887,773,000 after purchasing an additional 25,238,112 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in Kenvue by 9.6% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 79,863,967 shares of the company’s stock worth $1,451,927,000 after purchasing an additional 7,023,047 shares during the period. Wellington Management Group LLP grew its holdings in Kenvue by 6.7% during the fourth quarter. Wellington Management Group LLP now owns 76,501,956 shares of the company’s stock valued at $1,647,087,000 after purchasing an additional 4,815,126 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in shares of Kenvue by 11.1% in the first quarter. JPMorgan Chase & Co. now owns 68,319,998 shares of the company’s stock worth $1,466,147,000 after buying an additional 6,825,611 shares during the period. 97.64% of the stock is currently owned by 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.