Kenvue (NYSE:KVUE) Shares Gap Up to $18.19

Kenvue Inc. (NYSE:KVUE)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $18.19, but opened at $20.08. Kenvue shares last traded at $20.50, with a volume of 2,135,170 shares trading hands.

Analyst Ratings Changes

KVUE has been the topic of a number of research analyst reports. JPMorgan Chase & Co. lowered their target price on Kenvue from $23.00 to $22.00 and set an “overweight” rating on the stock in a report on Monday, July 22nd. Sanford C. Bernstein initiated coverage on Kenvue in a report on Thursday, April 11th. They set an “underperform” rating and a $18.00 target price on the stock. Citigroup lowered their target price on Kenvue from $21.00 to $20.00 and set a “neutral” rating on the stock in a report on Wednesday, July 10th. HSBC lifted their target price on Kenvue from $20.00 to $21.00 and gave the stock a “hold” rating in a report on Wednesday, May 8th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on Kenvue from $24.00 to $23.00 and set a “buy” rating on the stock in a report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $22.45.

Kenvue Price Performance

The company has a current ratio of 0.99, a quick ratio of 0.68 and a debt-to-equity ratio of 0.66. The firm has a market cap of $39.98 billion, a price-to-earnings ratio of 26.54, a price-to-earnings-growth ratio of 2.07 and a beta of 1.38. The stock has a 50-day moving average of $18.49 and a two-hundred day moving average of $19.43.

Kenvue (NYSE:KVUE) last announced its quarterly earnings data on Tuesday, May 7th. The company reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.03. Kenvue had a return on equity of 21.06% and a net margin of 9.63%. The firm had revenue of $2.89 billion during the quarter, compared to analyst estimates of $3.79 billion. The firm’s revenue was down 24.9% compared to the same quarter last year. On average, analysts anticipate that Kenvue Inc. will post 1.13 EPS for the current year.

Kenvue Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 28th. Shareholders of record on Wednesday, August 14th will be given a dividend of $0.205 per share. The ex-dividend date of this dividend is Wednesday, August 14th. 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 3.93%. Kenvue’s dividend payout ratio (DPR) is presently 105.13%.

Institutional Investors Weigh In On Kenvue

Institutional investors have recently bought and sold shares of the business. Stephens Inc. AR boosted its position in Kenvue by 86.1% during the 4th quarter. Stephens Inc. AR now owns 57,694 shares of the company’s stock worth $1,242,000 after acquiring an additional 26,700 shares during the period. Stifel Financial Corp boosted its position in Kenvue by 60.4% during the 4th quarter. Stifel Financial Corp now owns 745,064 shares of the company’s stock worth $16,041,000 after acquiring an additional 280,591 shares during the period. Raleigh Capital Management Inc. boosted its position in Kenvue by 93,834.8% during the 4th quarter. Raleigh Capital Management Inc. now owns 43,210 shares of the company’s stock worth $930,000 after acquiring an additional 43,164 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in shares of Kenvue by 2.6% during the 4th quarter. The Manufacturers Life Insurance Company now owns 1,598,567 shares of the company’s stock valued at $34,417,000 after buying an additional 40,995 shares during the last quarter. Finally, Cornerstone Wealth Group LLC lifted its holdings in shares of Kenvue by 176.2% during the 1st quarter. Cornerstone Wealth Group LLC now owns 350,371 shares of the company’s stock valued at $7,519,000 after buying an additional 223,537 shares during the last quarter. 97.64% of the stock is currently owned by institutional investors and hedge funds.

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.