Kenvue Inc. (NYSE:KVUE) Sees Large Growth in Short Interest

Kenvue Inc. (NYSE:KVUE) was the target of a significant growth in short interest during the month of February. As of February 28th, there was short interest totalling 37,630,000 shares, a growth of 18.9% from the February 13th total of 31,660,000 shares. Based on an average daily volume of 13,950,000 shares, the days-to-cover ratio is currently 2.7 days. Approximately 2.0% of the company’s shares are short sold.

Kenvue Stock Up 0.6 %

KVUE traded up $0.15 on Wednesday, hitting $23.49. 9,646,894 shares of the company were exchanged, compared to its average volume of 16,075,997. Kenvue has a 12 month low of $17.67 and a 12 month high of $24.46. The company has a market cap of $44.89 billion, a PE ratio of 44.31, a PEG ratio of 2.62 and a beta of 1.25. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.69 and a current ratio of 1.00. The stock’s fifty day moving average is $21.94 and its 200-day moving average is $22.41.

Kenvue (NYSE:KVUE) last released its earnings results on Thursday, February 6th. The company reported $0.26 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.26. Kenvue had a return on equity of 20.97% and a net margin of 6.66%. Equities research analysts predict that Kenvue will post 1.14 EPS for the current fiscal year.

Kenvue Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th were paid a $0.205 dividend. The ex-dividend date of this dividend was Wednesday, February 12th. This represents a $0.82 annualized dividend and a yield of 3.49%. Kenvue’s dividend payout ratio is 154.72%.

Institutional Trading of Kenvue

Institutional investors and hedge funds have recently bought and sold shares of the business. Grove Bank & Trust raised its stake in Kenvue by 438.4% in the fourth quarter. Grove Bank & Trust now owns 1,163 shares of the company’s stock valued at $25,000 after buying an additional 947 shares during the period. Geneos Wealth Management Inc. bought a new stake in Kenvue in the fourth quarter valued at approximately $29,000. SRS Capital Advisors Inc. raised its stake in Kenvue by 67.4% in the fourth quarter. SRS Capital Advisors Inc. now owns 1,418 shares of the company’s stock valued at $30,000 after buying an additional 571 shares during the period. Fortitude Family Office LLC raised its stake in Kenvue by 106.6% in the fourth quarter. Fortitude Family Office LLC now owns 1,506 shares of the company’s stock valued at $32,000 after buying an additional 777 shares during the period. Finally, Versant Capital Management Inc raised its stake in Kenvue by 300.8% in the fourth quarter. Versant Capital Management Inc now owns 1,920 shares of the company’s stock valued at $41,000 after buying an additional 1,441 shares during the period. Institutional investors own 97.64% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on KVUE shares. Barclays decreased their target price on Kenvue from $23.00 to $21.00 and set an “equal weight” rating for the company in a research note on Friday, January 17th. Deutsche Bank Aktiengesellschaft cut Kenvue from a “buy” rating to a “hold” rating and decreased their target price for the company from $25.00 to $24.00 in a research note on Thursday, December 12th. Canaccord Genuity Group boosted their target price on Kenvue from $24.00 to $29.00 and gave the company a “buy” rating in a research note on Wednesday, March 5th. Piper Sandler boosted their target price on Kenvue from $24.00 to $27.00 and gave the company an “overweight” rating in a research note on Monday, February 24th. Finally, Citigroup decreased their target price on Kenvue from $25.00 to $21.00 and set a “neutral” rating for the company in a research note on Wednesday, January 15th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Kenvue has a consensus rating of “Hold” and an average target price of $23.75.

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.