Kenvue (NYSE:KVUE) Trading Up 4.7% – Here’s Why

Kenvue Inc. (NYSE:KVUE) shares shot up 4.7% during mid-day trading on Friday . The company traded as high as $17.62 and last traded at $17.6650. 14,250,222 shares traded hands during mid-day trading, a decline of 56% from the average session volume of 32,055,883 shares. The stock had previously closed at $16.88.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on KVUE. UBS Group reduced their target price on Kenvue from $19.00 to $18.00 and set a “neutral” rating for the company in a report on Tuesday, April 7th. Barclays reduced their target price on Kenvue from $19.00 to $18.00 and set an “equal weight” rating for the company in a report on Tuesday, April 14th. Citigroup reduced their target price on Kenvue from $20.00 to $19.00 and set a “neutral” rating for the company in a report on Wednesday, April 15th. Weiss Ratings lowered Kenvue from a “hold (c)” rating to a “hold (c-)” rating in a report on Friday, May 29th. Finally, Zacks Research upgraded Kenvue from a “hold” rating to a “strong-buy” rating in a report on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and twelve have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $19.33.

Kenvue Price Performance

The company has a quick ratio of 0.70, a current ratio of 0.98 and a debt-to-equity ratio of 0.67. The stock has a market capitalization of $34.01 billion, a price-to-earnings ratio of 20.84, a P/E/G ratio of 1.28 and a beta of 0.54. The company’s 50-day simple moving average is $17.37 and its 200 day simple moving average is $17.47.

Kenvue (NYSE:KVUE) last posted its earnings results on Thursday, May 7th. The company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.27 by $0.05. The firm had revenue of $3.91 billion for the quarter, compared to the consensus estimate of $3.84 billion. Kenvue had a net margin of 10.61% and a return on equity of 20.81%. The business’s quarterly revenue was up 4.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.24 earnings per share. Equities research analysts forecast that Kenvue Inc. will post 1.16 EPS for the current year.

Kenvue Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 27th. Shareholders of record on Wednesday, May 13th were given a dividend of $0.2075 per share. This represents a $0.83 annualized dividend and a yield of 4.7%. The ex-dividend date of this dividend was Wednesday, May 13th. Kenvue’s dividend payout ratio is presently 97.65%.

Insider Buying and Selling

In other Kenvue news, General Counsel Matthew Orlando sold 38,491 shares of the stock in a transaction on Friday, May 8th. The shares were sold at an average price of $17.66, for a total transaction of $679,751.06. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 1.59% of the stock is owned by insiders.

Hedge Funds Weigh In On Kenvue

Several hedge funds have recently bought and sold shares of KVUE. Arrowstreet Capital Limited Partnership acquired a new position in Kenvue during the second quarter worth $6,528,000. Jump Financial LLC grew its position in shares of Kenvue by 210.6% in the second quarter. Jump Financial LLC now owns 54,823 shares of the company’s stock valued at $1,147,000 after purchasing an additional 37,170 shares during the last quarter. AXA S.A. grew its position in shares of Kenvue by 21.1% in the second quarter. AXA S.A. now owns 48,892 shares of the company’s stock valued at $1,023,000 after purchasing an additional 8,524 shares during the last quarter. NewEdge Advisors LLC grew its position in shares of Kenvue by 219.1% in the second quarter. NewEdge Advisors LLC now owns 97,481 shares of the company’s stock valued at $2,040,000 after purchasing an additional 66,930 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in shares of Kenvue by 0.6% in the second quarter. The Manufacturers Life Insurance Company now owns 1,873,705 shares of the company’s stock valued at $39,217,000 after purchasing an additional 10,885 shares during the last quarter. 97.64% of the stock is owned by institutional investors and hedge funds.

About Kenvue

Kenvue is a consumer health company that was established as a standalone, publicly traded business after separating from Johnson & Johnson. Listed on the New York Stock Exchange under the symbol KVUE, Kenvue focuses on the development, manufacture, marketing and distribution of consumer health and personal care products across a range of categories including skin and beauty care, baby care, oral care, wound care and over‑the‑counter medicines.

The company owns and markets a portfolio of widely recognized consumer brands, including names familiar to global shoppers across retail and pharmacy channels.