Kenvue (NYSE:KVUE) Sets New 52-Week High – Still a Buy?

Kenvue Inc. (NYSE:KVUE)’s share price reached a new 52-week high during trading on Thursday . The stock traded as high as $24.23 and last traded at $24.23, with a volume of 2291582 shares traded. The stock had previously closed at $23.78.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft upped their price target on Kenvue from $23.00 to $24.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Bank of America lifted their price target on shares of Kenvue from $24.00 to $27.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Royal Bank of Canada lowered shares of Kenvue from an “outperform” rating to a “sector perform” rating and set a $24.00 target price on the stock. in a research note on Tuesday, September 24th. Piper Sandler boosted their target price on shares of Kenvue from $20.00 to $21.00 and gave the stock a “neutral” rating in a research report on Monday, September 23rd. Finally, Jefferies Financial Group began coverage on Kenvue in a research report on Tuesday, September 24th. They issued a “buy” rating and a $27.00 price target on the stock. One analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $22.64.

Kenvue Stock Down 0.0 %

The firm’s 50-day simple moving average is $22.83 and its two-hundred day simple moving average is $20.82. The stock has a market cap of $46.17 billion, a price-to-earnings ratio of 43.78, a PEG ratio of 2.19 and a beta of 1.36. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.69 and a current ratio of 1.00.

Kenvue (NYSE:KVUE) last posted its quarterly earnings data on Thursday, November 7th. The company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.01. The firm had revenue of $3.90 billion for the quarter, compared to the consensus estimate of $3.92 billion. Kenvue had a return on equity of 21.43% and a net margin of 6.88%. The business’s revenue for the quarter was down .4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.31 EPS. On average, sell-side analysts expect that Kenvue Inc. will post 1.07 EPS for the current fiscal year.

Kenvue Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th will be given a $0.205 dividend. The ex-dividend date is Wednesday, November 13th. This represents a $0.82 dividend on an annualized basis and a yield of 3.41%. Kenvue’s payout ratio is 149.09%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Riverview Trust Co acquired a new position in Kenvue in the third quarter valued at approximately $30,000. Ashton Thomas Securities LLC bought a new position in Kenvue during the 3rd quarter worth approximately $35,000. Studio Investment Management LLC increased its stake in Kenvue by 52.1% in the second quarter. Studio Investment Management LLC now owns 2,468 shares of the company’s stock valued at $45,000 after purchasing an additional 845 shares in the last quarter. Deseret Mutual Benefit Administrators raised its holdings in Kenvue by 49.7% in the third quarter. Deseret Mutual Benefit Administrators now owns 1,960 shares of the company’s stock worth $45,000 after purchasing an additional 651 shares during the period. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new position in shares of Kenvue in the 2nd quarter valued at $61,000. 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.