Kenvue (NYSE:KVUE) Hits New 1-Year High – Time to Buy?

Kenvue Inc. (NYSE:KVUE)’s share price reached a new 52-week high during trading on Wednesday . The company traded as high as $24.46 and last traded at $24.12, with a volume of 12313208 shares changing hands. The stock had previously closed at $24.24.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on KVUE shares. Royal Bank of Canada downgraded Kenvue from an “outperform” rating to a “sector perform” rating and set a $24.00 target price for the company. in a report on Tuesday, September 24th. Bank of America raised their price target on Kenvue from $24.00 to $27.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. UBS Group raised their price target on Kenvue from $20.00 to $22.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. JPMorgan Chase & Co. raised their price target on Kenvue from $24.00 to $25.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. Finally, Jefferies Financial Group assumed coverage on Kenvue in a research report on Tuesday, September 24th. They issued a “buy” rating and a $27.00 price target for the company. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $22.64.

Kenvue Trading Down 0.5 %

The stock has a market cap of $46.24 billion, a PE ratio of 43.85, a PEG ratio of 2.19 and a beta of 1.36. The business has a 50-day moving average of $22.87 and a 200 day moving average of $20.92. 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 issued its quarterly earnings results on Thursday, November 7th. The company reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.01. Kenvue had a return on equity of 21.43% and a net margin of 6.88%. The firm had revenue of $3.90 billion for the quarter, compared to analyst estimates of $3.92 billion. During the same period last year, the company earned $0.31 EPS. The firm’s quarterly revenue was down .4% on a year-over-year basis. Equities research analysts predict that Kenvue Inc. will post 1.07 EPS for the current fiscal year.

Kenvue Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th will be paid a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a yield of 3.40%. The ex-dividend date is Wednesday, November 13th. Kenvue’s payout ratio is 149.09%.

Institutional Trading of Kenvue

Hedge funds have recently added to or reduced their stakes in the business. Riverview Trust Co acquired a new stake in Kenvue in the 3rd quarter worth about $30,000. Ashton Thomas Securities LLC acquired a new position in shares of Kenvue in the 3rd quarter valued at about $35,000. Deseret Mutual Benefit Administrators lifted its stake in shares of Kenvue by 49.7% in the 3rd quarter. Deseret Mutual Benefit Administrators now owns 1,960 shares of the company’s stock valued at $45,000 after purchasing an additional 651 shares in the last quarter. Studio Investment Management LLC lifted its stake in shares of Kenvue by 52.1% in the 2nd 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. Finally, Brooklyn Investment Group acquired a new position in shares of Kenvue in the 3rd quarter valued at about $71,000. 97.64% of the stock is 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.