Short Interest in Kenvue Inc. (NYSE:KVUE) Declines By 17.4%

Kenvue Inc. (NYSE:KVUE) was the target of a large drop in short interest in the month of July. As of July 31st, there was short interest totalling 30,250,000 shares, a drop of 17.4% from the July 15th total of 36,620,000 shares. Based on an average trading volume of 22,360,000 shares, the short-interest ratio is presently 1.4 days. Approximately 1.6% of the shares of the company are short sold.

Kenvue Stock Up 0.5 %

KVUE opened at $21.67 on Friday. Kenvue has a fifty-two week low of $17.67 and a fifty-two week high of $24.10. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.99 and a quick ratio of 0.68. The firm’s fifty day moving average price is $18.86 and its two-hundred day moving average price is $19.45. The company has a market capitalization of $41.49 billion, a P/E ratio of 27.78, a P/E/G ratio of 2.07 and a beta of 1.38.

Kenvue (NYSE:KVUE) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.04. Kenvue had a net margin of 9.63% and a return on equity of 21.06%. The firm had revenue of $4 billion for the quarter, compared to the consensus estimate of $3.93 billion. During the same quarter in the previous year, the company earned $0.32 earnings per share. The business’s revenue was down .3% compared to the same quarter last year. On average, analysts anticipate that Kenvue will post 1.13 EPS for the current year.

Kenvue Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 28th. Shareholders of record on Wednesday, August 14th will be issued a dividend of $0.205 per share. The ex-dividend date of this dividend is Wednesday, August 14th. This is a boost from Kenvue’s previous quarterly dividend of $0.20. This represents a $0.82 dividend on an annualized basis and a dividend yield of 3.78%. Kenvue’s dividend payout ratio (DPR) is presently 105.13%.

Analysts Set New Price Targets

KVUE has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft increased their target price on shares of Kenvue from $23.00 to $24.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. JPMorgan Chase & Co. raised their target price on shares of Kenvue from $22.00 to $24.00 and gave the stock an “overweight” rating in a report on Wednesday, August 7th. HSBC raised their target price on shares of Kenvue from $20.00 to $21.00 and gave the stock a “hold” rating in a report on Wednesday, May 8th. UBS Group increased their price target on shares of Kenvue from $20.00 to $22.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $24.00 price objective on shares of Kenvue in a research report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Kenvue has an average rating of “Hold” and a consensus target price of $22.64.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in KVUE. Price T Rowe Associates Inc. MD lifted its holdings in shares of Kenvue by 23.1% during the first 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 acquiring an additional 25,238,112 shares during the period. Vanguard Group Inc. lifted its holdings in shares of 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 period. Norges Bank bought a new position in shares of Kenvue during the fourth quarter valued at $282,100,000. Van ECK Associates Corp lifted its holdings in shares of Kenvue by 110.9% during the second quarter. Van ECK Associates Corp now owns 20,510,427 shares of the company’s stock valued at $372,880,000 after acquiring an additional 10,783,258 shares during the period. Finally, Clearbridge Investments LLC raised its holdings in shares of Kenvue by 16,051.1% in the first quarter. Clearbridge Investments LLC now owns 9,813,597 shares of the company’s stock valued at $210,600,000 after buying an additional 9,752,836 shares during the last quarter. 97.64% of the stock is 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.