Kenvue (NYSE:KVUE) Trading 5.2% Higher Following Strong Earnings

Kenvue Inc. (NYSE:KVUE) shares shot up 5.2% during mid-day trading on Tuesday following a better than expected earnings announcement. The company traded as high as $20.06 and last traded at $19.87. 3,220,488 shares changed hands during mid-day trading, a decline of 81% from the average session volume of 16,736,973 shares. The stock had previously closed at $18.88.

The company reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.03. Kenvue had a net margin of 9.87% and a return on equity of 15.62%. The company had revenue of $2.89 billion for the quarter, compared to analysts’ expectations of $3.79 billion. The firm’s revenue was down 24.9% compared to the same quarter last year.

Kenvue Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors of record on Wednesday, May 8th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, May 7th. This represents a $0.80 dividend on an annualized basis and a yield of 3.89%.

Analyst Ratings Changes

Several brokerages have recently weighed in on KVUE. JPMorgan Chase & Co. decreased their price target on Kenvue from $25.00 to $24.00 and set an “overweight” rating on the stock in a research report on Friday, February 9th. William Blair started coverage on shares of Kenvue in a research report on Wednesday, April 3rd. They set a “market perform” rating for the company. Sanford C. Bernstein assumed coverage on Kenvue in a research report on Thursday, April 11th. They issued an “underperform” rating and a $18.00 price objective on the stock. The Goldman Sachs Group assumed coverage on Kenvue in a research report on Friday, March 1st. They set a “neutral” rating and a $20.00 target price for the company. Finally, Royal Bank of Canada lowered their price target on Kenvue from $25.00 to $24.00 and set an “outperform” rating on the stock in a report on Friday, February 9th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $24.38.

Institutional Trading of Kenvue

Several hedge funds have recently added to or reduced their stakes in KVUE. Vanguard Group Inc. increased its holdings in shares of Kenvue by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 148,880,588 shares of the company’s stock worth $3,205,399,000 after buying an additional 2,226,390 shares during the period. Price T Rowe Associates Inc. MD increased its stake in Kenvue by 19.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 109,327,221 shares of the company’s stock worth $2,353,816,000 after purchasing an additional 18,118,056 shares during the period. FMR LLC lifted its position in Kenvue by 572.1% in the third quarter. FMR LLC now owns 89,182,980 shares of the company’s stock valued at $1,790,794,000 after purchasing an additional 75,913,107 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Kenvue by 6.7% during the fourth quarter. Wellington Management Group LLP now owns 76,501,956 shares of the company’s stock valued at $1,647,087,000 after purchasing an additional 4,815,126 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its holdings in shares of Kenvue by 9.1% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 66,665,454 shares of the company’s stock worth $1,435,307,000 after purchasing an additional 5,574,265 shares during the last quarter. 97.64% of the stock is owned by institutional investors.

Kenvue Trading Up 0.4 %

The firm’s fifty day moving average price is $19.90 and its 200-day moving average price is $20.12. The company has a quick ratio of 0.78, a current ratio of 1.12 and a debt-to-equity ratio of 0.69.

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.