Kenvue (NYSE:KVUE) Shares Gap Up – Here’s Why

Shares of Kenvue Inc. (NYSE:KVUE) gapped up prior to trading on Monday . The stock had previously closed at $21.72, but opened at $22.95. Kenvue shares last traded at $23.09, with a volume of 6,965,026 shares traded.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on KVUE shares. Piper Sandler upped their price target on shares of Kenvue from $20.00 to $21.00 and gave the stock a “neutral” rating in a report on Monday, September 23rd. UBS Group lifted their price target on shares of Kenvue from $20.00 to $22.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Citigroup dropped their price objective on Kenvue from $21.00 to $20.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. Bank of America lifted their target price on Kenvue from $24.00 to $27.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, Deutsche Bank Aktiengesellschaft increased their price target on Kenvue from $23.00 to $24.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $22.64.

Kenvue Price Performance

The firm has a market capitalization of $43.91 billion, a P/E ratio of 29.40, a P/E/G ratio of 2.76 and a beta of 1.40. The stock’s fifty day simple moving average is $22.33 and its 200 day simple moving average is $20.24. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.99 and a quick ratio of 0.68.

Kenvue (NYSE:KVUE) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.28 by $0.04. Kenvue had a net margin of 7.23% and a return on equity of 21.80%. The firm had revenue of $4 billion during the quarter, compared to analyst estimates of $3.93 billion. During the same quarter in the previous year, the business posted $0.32 EPS. Kenvue’s revenue was down .3% on a year-over-year basis. On average, equities research analysts predict that Kenvue Inc. will post 1.08 EPS for the current year.

Kenvue Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th will be given a $0.205 dividend. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 3.58%. Kenvue’s payout ratio is 105.13%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in KVUE. DORCHESTER WEALTH MANAGEMENT Co boosted its holdings in Kenvue by 8.0% in the third quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 347,270 shares of the company’s stock worth $8,032,000 after acquiring an additional 25,650 shares in the last quarter. Boyd Watterson Asset Management LLC OH boosted its stake in Kenvue by 4.5% in the 3rd quarter. Boyd Watterson Asset Management LLC OH now owns 21,121 shares of the company’s stock worth $489,000 after purchasing an additional 917 shares in the last quarter. Coho Partners Ltd. acquired a new stake in Kenvue in the 3rd quarter worth approximately $8,300,000. International Assets Investment Management LLC grew its position in Kenvue by 1,529.5% during the 3rd quarter. International Assets Investment Management LLC now owns 106,341 shares of the company’s stock worth $2,460,000 after purchasing an additional 99,815 shares during the last quarter. Finally, Altus Wealth Group LLC increased its stake in Kenvue by 28.9% during the 3rd quarter. Altus Wealth Group LLC now owns 31,861 shares of the company’s stock valued at $737,000 after purchasing an additional 7,142 shares in the last quarter. 97.64% of the stock is 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.