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

Kenvue Inc. (NYSE:KVUE) shares hit a new 52-week high on Thursday following a stronger than expected earnings report. The company traded as high as $25.09 and last traded at $24.93, with a volume of 3378882 shares. The stock had previously closed at $23.11.

The company reported $0.24 EPS for the quarter, topping the consensus estimate 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 the consensus estimate of $3.69 billion. During the same quarter in the previous year, the firm earned $0.28 earnings per share. The business’s quarterly revenue was down 3.9% on a year-over-year basis.

Kenvue Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 28th. Shareholders of record on Wednesday, May 14th will be given a $0.205 dividend. The ex-dividend date 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 is currently 154.72%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. UBS Group upped their price target on shares of Kenvue from $24.00 to $25.00 and gave the stock a “neutral” rating in a report on Friday. Barclays lowered their target price on Kenvue from $23.00 to $22.00 and set an “equal weight” rating for the company in a report on Monday, April 14th. Canaccord Genuity Group lifted their price target on Kenvue from $24.00 to $29.00 and gave the company a “buy” rating in a research note on Wednesday, March 5th. Evercore ISI started coverage on Kenvue in a report on Monday, March 24th. They set an “in-line” rating and a $25.00 price target on the stock. Finally, Redburn Atlantic initiated coverage on shares of Kenvue in a report on Thursday, April 10th. They issued a “neutral” rating and a $23.50 price objective for the company. Seven research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $25.25.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD grew its stake in Kenvue by 3.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 245,885,918 shares of the company’s stock worth $5,249,665,000 after purchasing an additional 8,211,748 shares during the period. Vanguard Group Inc. grew its position in shares of Kenvue by 4.9% during the 1st quarter. Vanguard Group Inc. now owns 229,144,387 shares of the company’s stock worth $5,494,882,000 after buying an additional 10,600,682 shares during the period. Massachusetts Financial Services Co. MA grew its position in shares of Kenvue by 12.3% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 97,661,344 shares of the company’s stock worth $2,085,070,000 after buying an additional 10,682,003 shares during the period. Geode Capital Management LLC increased its stake in shares of Kenvue by 3.1% in the 4th quarter. Geode Capital Management LLC now owns 46,068,931 shares of the company’s stock valued at $980,989,000 after acquiring an additional 1,391,854 shares in the last quarter. Finally, Franklin Resources Inc. lifted its position in shares of Kenvue by 61.5% during the 4th quarter. Franklin Resources Inc. now owns 42,719,377 shares of the company’s stock valued at $912,059,000 after acquiring an additional 16,269,721 shares during the period. Institutional investors own 97.64% of the company’s stock.

Kenvue Stock Performance

The company has a quick ratio of 0.69, a current ratio of 1.00 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $46.95 billion, a P/E ratio of 46.17, a price-to-earnings-growth ratio of 2.62 and a beta of 1.02. The company’s 50 day moving average is $23.13 and its 200-day moving average is $22.56.

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.