Kenvue (NYSE:KVUE) Shares Down 5.1% – Here’s Why

Kenvue Inc. (NYSE:KVUE) fell 5.1% during mid-day trading on Wednesday . The stock traded as low as $22.18 and last traded at $22.28. 12,263,352 shares changed hands during trading, a decline of 31% from the average session volume of 17,731,625 shares. The stock had previously closed at $23.48.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on KVUE. Jefferies Financial Group initiated coverage on shares of Kenvue in a research report on Tuesday, September 24th. They set a “buy” rating and a $27.00 price target on the stock. Deutsche Bank Aktiengesellschaft upped their target price on shares of Kenvue from $23.00 to $24.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. Piper Sandler upped their target price on shares of 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. upped their target price on shares of Kenvue from $24.00 to $25.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. Finally, UBS Group upped their target price on shares of Kenvue from $20.00 to $22.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, Kenvue has an average rating of “Hold” and a consensus price target of $22.64.

Kenvue Trading Down 1.4 %

The firm has a fifty day moving average price of $22.97 and a 200 day moving average price of $21.04. The company has a market cap of $44.40 billion, a price-to-earnings ratio of 42.71, a P/E/G ratio of 2.20 and a beta of 1.37. 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 announced its quarterly earnings results on Thursday, November 7th. The company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.01. Kenvue had a return on equity of 21.43% and a net margin of 6.88%. The business had revenue of $3.90 billion during the quarter, compared to the consensus estimate of $3.92 billion. During the same quarter last year, the firm posted $0.31 EPS. The company’s quarterly revenue was down .4% on a year-over-year basis. As a group, equities analysts predict that Kenvue Inc. will post 1.07 EPS for the current fiscal year.

Kenvue Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th were issued a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a dividend yield of 3.54%. The ex-dividend date of this dividend was Wednesday, November 13th. Kenvue’s dividend payout ratio is currently 149.09%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of KVUE. EverSource Wealth Advisors LLC increased its position in shares of Kenvue by 78.6% in the first quarter. EverSource Wealth Advisors LLC now owns 4,155 shares of the company’s stock worth $89,000 after purchasing an additional 1,829 shares during the period. GAMMA Investing LLC grew its position in Kenvue by 46.6% in the second quarter. GAMMA Investing LLC now owns 10,952 shares of the company’s stock valued at $199,000 after acquiring an additional 3,483 shares during the last quarter. Mather Group LLC. grew its position in Kenvue by 230.9% in the second quarter. Mather Group LLC. now owns 4,232 shares of the company’s stock valued at $77,000 after acquiring an additional 2,953 shares during the last quarter. Valeo Financial Advisors LLC bought a new position in Kenvue in the second quarter valued at about $811,000. Finally, Simplicity Wealth LLC grew its position in Kenvue by 59.2% in the second quarter. Simplicity Wealth LLC now owns 249,901 shares of the company’s stock valued at $4,543,000 after acquiring an additional 92,966 shares during the last quarter. Institutional investors own 97.64% of the company’s stock.

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.