Kenvue (NYSE:KVUE) Reaches New 52-Week High – Time to Buy?

Shares of Kenvue Inc. (NYSE:KVUE) reached a new 52-week high on Wednesday . The company traded as high as $24.46 and last traded at $24.12, with a volume of 12313208 shares traded. The stock had previously closed at $24.24.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on KVUE shares. Piper Sandler upped their price target on shares of Kenvue from $20.00 to $21.00 and gave the company a “neutral” rating in a report on Monday, September 23rd. Jefferies Financial Group started coverage on shares of Kenvue in a research report on Tuesday, September 24th. They set a “buy” rating and a $27.00 price objective for the company. JPMorgan Chase & Co. raised their target price on Kenvue from $24.00 to $25.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. Royal Bank of Canada cut shares of Kenvue from an “outperform” rating to a “sector perform” rating and set a $24.00 target price for the company. in a research report on Tuesday, September 24th. Finally, UBS Group boosted their price target on Kenvue from $20.00 to $22.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $22.64.

Kenvue Trading Up 0.0 %

The business’s 50-day simple moving average is $22.92 and its 200-day simple moving average is $20.96. The company has a market cap of $46.26 billion, a PE ratio of 43.87, a P/E/G ratio of 2.20 and a beta of 1.36. The company has a current ratio of 1.00, a quick ratio of 0.69 and a debt-to-equity ratio of 0.66.

Kenvue (NYSE:KVUE) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.01. Kenvue had a return on equity of 21.43% and a net margin of 6.88%. The company had revenue of $3.90 billion during the quarter, compared to the consensus estimate of $3.92 billion. During the same period last year, the business earned $0.31 EPS. The business’s quarterly revenue was down .4% on a year-over-year basis. As a group, analysts expect that Kenvue Inc. will post 1.07 EPS for the current fiscal year.

Kenvue Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th were issued a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a yield of 3.40%. The ex-dividend date of this dividend was Wednesday, November 13th. Kenvue’s dividend payout ratio (DPR) is currently 149.09%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Huntington National Bank grew its position in Kenvue by 26.5% in the 3rd quarter. Huntington National Bank now owns 4,161 shares of the company’s stock worth $96,000 after purchasing an additional 871 shares during the last quarter. ING Groep NV increased its stake in Kenvue by 23.6% during the third quarter. ING Groep NV now owns 3,576,616 shares of the company’s stock valued at $82,727,000 after acquiring an additional 681,954 shares during the period. Lorne Steinberg Wealth Management Inc. raised its holdings in Kenvue by 59.0% in the 2nd quarter. Lorne Steinberg Wealth Management Inc. now owns 154,690 shares of the company’s stock valued at $2,812,000 after acquiring an additional 57,375 shares in the last quarter. Kennon Green & Company LLC boosted its position in shares of Kenvue by 140.7% during the 2nd quarter. Kennon Green & Company LLC now owns 159,106 shares of the company’s stock valued at $2,893,000 after acquiring an additional 93,008 shares in the last quarter. Finally, Czech National Bank grew its stake in shares of Kenvue by 20.3% in the 2nd quarter. Czech National Bank now owns 364,886 shares of the company’s stock valued at $6,634,000 after purchasing an additional 61,635 shares during the period. 97.64% of the stock is currently owned by institutional investors and hedge funds.

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.