Kenvue (NYSE:KVUE) Reaches New 52-Week Low After Analyst Downgrade

Kenvue Inc. (NYSE:KVUE)’s share price hit a new 52-week low during trading on Wednesday after Citigroup lowered their price target on the stock from $21.00 to $20.00. Citigroup currently has a neutral rating on the stock. Kenvue traded as low as $17.72 and last traded at $17.74, with a volume of 11360712 shares changing hands. The stock had previously closed at $18.22.

KVUE has been the topic of a number of other research reports. Sanford C. Bernstein initiated coverage on shares of Kenvue in a research report on Thursday, April 11th. They issued an “underperform” rating and a $18.00 price objective on the stock. William Blair began coverage on shares of Kenvue in a research note on Wednesday, April 3rd. They set a “market perform” rating for the company. Finally, HSBC lifted their target price on Kenvue from $20.00 to $21.00 and gave the company a “hold” rating in a research report on Wednesday, May 8th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $23.00.

Institutional Investors Weigh In On Kenvue

A number of institutional investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its position in shares of Kenvue by 12.0% during the 1st quarter. Vanguard Group Inc. now owns 166,789,085 shares of the company’s stock worth $3,579,294,000 after acquiring an additional 17,908,497 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of 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 valued at $2,887,773,000 after purchasing an additional 25,238,112 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of Kenvue by 6.7% in the 4th 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 last quarter. JPMorgan Chase & Co. raised its holdings in shares of Kenvue by 11.1% during the 1st 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 in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its position in shares of Kenvue by 9.1% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 66,665,454 shares of the company’s stock worth $1,435,307,000 after buying an additional 5,574,265 shares during the last quarter. Institutional investors own 97.64% of the company’s stock.

Kenvue Stock Up 2.3 %

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 has a 50 day moving average of $19.00 and a two-hundred day moving average of $19.78. The firm has a market capitalization of $35.12 billion, a price-to-earnings ratio of 23.51, a price-to-earnings-growth ratio of 1.87 and a beta of 1.40.

Kenvue (NYSE:KVUE) last released its quarterly earnings data on Tuesday, May 7th. The company reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $3.79 billion. Kenvue’s quarterly revenue was down 24.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Kenvue Inc. will post 1.17 EPS for the current fiscal year.

Kenvue Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 22nd. Investors of record on Wednesday, May 8th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Tuesday, May 7th. This represents a $0.80 dividend on an annualized basis and a yield of 4.36%. Kenvue’s dividend payout ratio is currently 102.56%.

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.