Kenvue (NYSE:KVUE) Hits New 1-Year High – Time to Buy?

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

Analysts Set New Price Targets

KVUE has been the topic of several recent research reports. Jefferies Financial Group initiated coverage on Kenvue in a research report on Tuesday, September 24th. They set a “buy” rating and a $27.00 price target on the stock. Bank of America boosted their price target on Kenvue from $24.00 to $27.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. JPMorgan Chase & Co. lifted their price objective on Kenvue from $24.00 to $25.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. UBS Group lifted their price objective on Kenvue from $20.00 to $22.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Finally, Royal Bank of Canada downgraded Kenvue from an “outperform” rating to a “sector perform” rating and set a $24.00 price objective on the stock. in a report on Tuesday, September 24th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Kenvue currently has an average rating of “Hold” and an average price target of $22.64.

Kenvue Stock Performance

The stock has a market capitalization of $46.24 billion, a P/E ratio of 43.85, a P/E/G ratio of 2.19 and a beta of 1.36. The stock has a 50 day moving average of $22.87 and a 200 day moving average of $20.92. 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 issued its quarterly earnings data on Thursday, November 7th. The company reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.01. The firm had revenue of $3.90 billion during the quarter, compared to the consensus estimate of $3.92 billion. Kenvue had a return on equity of 21.43% and a net margin of 6.88%. The firm’s revenue was down .4% on a year-over-year basis. During the same period in the prior year, the business earned $0.31 EPS. Equities analysts predict that Kenvue Inc. will post 1.07 EPS for the current year.

Kenvue Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th will be paid a dividend of $0.205 per share. The ex-dividend date is Wednesday, November 13th. This represents a $0.82 dividend on an annualized basis and a yield of 3.40%. Kenvue’s payout ratio is currently 149.09%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Huntington National Bank boosted its position in Kenvue by 26.5% during the 3rd quarter. Huntington National Bank now owns 4,161 shares of the company’s stock worth $96,000 after acquiring an additional 871 shares during the period. ING Groep NV boosted its position in Kenvue by 23.6% during the 3rd quarter. ING Groep NV now owns 3,576,616 shares of the company’s stock worth $82,727,000 after acquiring an additional 681,954 shares during the period. Lorne Steinberg Wealth Management Inc. boosted its position in Kenvue by 59.0% during the 2nd quarter. Lorne Steinberg Wealth Management Inc. now owns 154,690 shares of the company’s stock worth $2,812,000 after acquiring an additional 57,375 shares during the period. Kennon Green & Company LLC boosted its position in Kenvue by 140.7% during the 2nd quarter. Kennon Green & Company LLC now owns 159,106 shares of the company’s stock worth $2,893,000 after acquiring an additional 93,008 shares during the period. Finally, Czech National Bank boosted its position in Kenvue by 20.3% during the 2nd quarter. Czech National Bank now owns 364,886 shares of the company’s stock worth $6,634,000 after acquiring an additional 61,635 shares during the period. 97.64% of the stock is currently owned by institutional investors.

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.