Kenvue Inc. (NYSE:KVUE – Get Free Report) was the target of a significant increase in short interest during the month of September. As of September 30th, there was short interest totalling 45,130,000 shares, an increase of 9.6% from the September 15th total of 41,180,000 shares. Currently, 2.4% of the company’s shares are sold short. Based on an average daily volume of 16,210,000 shares, the short-interest ratio is presently 2.8 days.
Kenvue Stock Down 0.1 %
Shares of KVUE stock traded down $0.03 during mid-day trading on Wednesday, hitting $21.73. 13,919,492 shares of the stock traded hands, compared to its average volume of 18,186,336. Kenvue has a 52-week low of $17.67 and a 52-week high of $23.55. The stock’s fifty day moving average is $22.22 and its two-hundred day moving average is $20.18. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.99 and a quick ratio of 0.68. The stock has a market cap of $41.61 billion, a P/E ratio of 27.90, a P/E/G ratio of 2.76 and a beta of 1.40.
Kenvue (NYSE:KVUE – Get Free Report) last posted its quarterly earnings data 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 return on equity of 21.80% and a net margin of 7.23%. The firm had revenue of $4 billion during the quarter, compared to analysts’ expectations of $3.93 billion. During the same quarter last year, the firm earned $0.32 EPS. The business’s quarterly revenue was down .3% on a year-over-year basis. Equities analysts predict that Kenvue will post 1.08 EPS for the current year.
Kenvue Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 28th. Stockholders of record on Wednesday, August 14th were issued a dividend of $0.205 per share. The ex-dividend date of this dividend was Wednesday, August 14th. This represents a $0.82 annualized dividend and a dividend yield of 3.77%. This is an increase from Kenvue’s previous quarterly dividend of $0.20. Kenvue’s dividend payout ratio is 105.13%.
Hedge Funds Weigh In On Kenvue
Several hedge funds and other institutional investors have recently modified their holdings of KVUE. Cornerstone Wealth Group LLC raised its holdings in shares of Kenvue by 176.2% in the first quarter. Cornerstone Wealth Group LLC now owns 350,371 shares of the company’s stock worth $7,519,000 after buying an additional 223,537 shares during the last quarter. NBC Securities Inc. raised its stake in Kenvue by 8.4% in the 1st quarter. NBC Securities Inc. now owns 11,301 shares of the company’s stock worth $242,000 after acquiring an additional 879 shares during the last quarter. Janney Montgomery Scott LLC lifted its position in Kenvue by 56.2% during the 1st quarter. Janney Montgomery Scott LLC now owns 1,840,875 shares of the company’s stock worth $39,505,000 after acquiring an additional 662,666 shares during the period. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in Kenvue during the 1st quarter valued at about $1,050,000. Finally, Norden Group LLC acquired a new position in shares of Kenvue in the first quarter valued at about $1,792,000. 97.64% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several equities analysts have commented on KVUE shares. Piper Sandler upped their price objective on Kenvue from $20.00 to $21.00 and gave the company a “neutral” rating in a research report on Monday, September 23rd. JPMorgan Chase & Co. lifted their price objective on shares of Kenvue from $24.00 to $25.00 and gave the company an “overweight” rating in a report on Friday, October 11th. Citigroup dropped their target price on shares of Kenvue from $21.00 to $20.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Kenvue from $23.00 to $24.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. Finally, Royal Bank of Canada downgraded Kenvue from an “outperform” rating to a “sector perform” rating and set a $24.00 price objective on the stock. in a report on Tuesday, September 24th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Kenvue presently has an average rating of “Hold” and a consensus price target of $22.20.
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.