Kenvue (NYSE:KVUE) Reaches New 52-Week High After Strong Earnings

Kenvue Inc. (NYSE:KVUE)’s share price reached a new 52-week high during trading on Thursday after the company announced better than expected quarterly earnings. The company traded as high as $25.09 and last traded at $24.93, with a volume of 3378882 shares traded. The stock had previously closed at $23.11.

The company reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.01. Kenvue had a return on equity of 20.97% and a net margin of 6.66%. The firm had revenue of $3.74 billion during the quarter, compared to analysts’ expectations of $3.69 billion. During the same quarter last year, the firm posted $0.28 earnings per share. The company’s revenue for the quarter was down 3.9% compared to the same quarter last year.

Kenvue Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 28th. Shareholders of record on Wednesday, May 14th will be paid a dividend of $0.205 per share. The ex-dividend date of this dividend is Wednesday, May 14th. This represents a $0.82 dividend on an annualized basis and a yield of 3.35%. Kenvue’s dividend payout ratio (DPR) is presently 154.72%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on KVUE shares. Royal Bank of Canada reiterated a “sector perform” rating and set a $24.00 price objective on shares of Kenvue in a report on Monday, February 3rd. Barclays lowered their price objective on Kenvue from $23.00 to $22.00 and set an “equal weight” rating for the company in a research note on Monday, April 14th. Citigroup raised their target price on Kenvue from $22.00 to $24.50 and gave the company a “neutral” rating in a report on Friday. Evercore ISI initiated coverage on shares of Kenvue in a report on Monday, March 24th. They set an “in-line” rating and a $25.00 price objective on the stock. Finally, Canaccord Genuity Group upped their target price on shares of Kenvue from $24.00 to $29.00 and gave the stock a “buy” rating in a research note on Wednesday, March 5th. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Kenvue presently has a consensus rating of “Hold” and an average target price of $25.25.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in KVUE. Grove Bank & Trust raised its holdings in shares of Kenvue by 438.4% in the 4th quarter. Grove Bank & Trust now owns 1,163 shares of the company’s stock worth $25,000 after purchasing an additional 947 shares during the period. Pittenger & Anderson Inc. purchased a new stake in Kenvue in the first quarter worth $30,000. Geneos Wealth Management Inc. purchased a new stake in Kenvue in the fourth quarter worth $29,000. SRS Capital Advisors Inc. raised its stake in shares of Kenvue by 67.4% in the fourth quarter. SRS Capital Advisors Inc. now owns 1,418 shares of the company’s stock valued at $30,000 after buying an additional 571 shares during the period. Finally, TruNorth Capital Management LLC purchased a new position in shares of Kenvue during the 1st quarter valued at $36,000. 97.64% of the stock is currently owned by hedge funds and other institutional investors.

Kenvue Price Performance

The firm has a 50 day moving average price of $23.13 and a two-hundred day moving average price of $22.56. The company has a market cap of $46.95 billion, a P/E ratio of 46.17, a P/E/G ratio of 2.62 and a beta of 1.02. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.69 and a current ratio of 1.00.

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.