Kenvue (NYSE:KVUE) Trading 5.2% Higher

Kenvue Inc. (NYSE:KVUE)’s share price was up 5.2% during trading on Tuesday . The company traded as high as $20.06 and last traded at $19.87. Approximately 3,220,488 shares were traded during trading, a decline of 81% from the average daily volume of 16,736,973 shares. The stock had previously closed at $18.88.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Royal Bank of Canada cut their price objective on Kenvue from $25.00 to $24.00 and set an “outperform” rating for the company in a research report on Friday, February 9th. William Blair initiated coverage on shares of Kenvue in a report on Wednesday, April 3rd. They issued a “market perform” rating on the stock. Sanford C. Bernstein initiated coverage on shares of Kenvue in a research note on Thursday, April 11th. They set an “underperform” rating and a $18.00 target price for the company. The Goldman Sachs Group assumed coverage on shares of Kenvue in a report on Friday, March 1st. They issued a “neutral” rating and a $20.00 price target on the stock. Finally, JPMorgan Chase & Co. dropped their price target on Kenvue from $25.00 to $24.00 and set an “overweight” rating for the company in a report on Friday, February 9th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, Kenvue presently has an average rating of “Hold” and a consensus price target of $24.85.

Kenvue Price Performance

The company has a quick ratio of 0.78, a current ratio of 1.12 and a debt-to-equity ratio of 0.69. The company has a 50 day moving average price of $19.82 and a 200-day moving average price of $20.11.

Kenvue (NYSE:KVUE) last issued its quarterly earnings results on Thursday, February 8th. The company reported $0.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.03. The firm had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.78 billion. Kenvue had a return on equity of 15.62% and a net margin of 9.87%. The firm’s revenue was down 2.7% on a year-over-year basis. On average, sell-side analysts predict that Kenvue Inc. will post 1.15 EPS for the current fiscal year.

Kenvue Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Wednesday, May 8th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 3.98%. The ex-dividend date of this dividend is Tuesday, May 7th.

Institutional Investors Weigh In On Kenvue

Several hedge funds and other institutional investors have recently bought and sold shares of KVUE. Clearstead Advisors LLC acquired a new position in Kenvue during the 3rd quarter worth approximately $25,000. Manchester Capital Management LLC lifted its holdings in shares of Kenvue by 80.8% in the 1st quarter. Manchester Capital Management LLC now owns 1,186 shares of the company’s stock worth $25,000 after purchasing an additional 530 shares in the last quarter. Planned Solutions Inc. acquired a new stake in Kenvue in the 4th quarter valued at $27,000. Venturi Wealth Management LLC bought a new stake in Kenvue during the 3rd quarter valued at $28,000. Finally, EverSource Wealth Advisors LLC acquired a new position in Kenvue during the third quarter worth $28,000. 97.64% of the stock is 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.