Kenvue (NYSE:KVUE) Reaches New 12-Month Low on Analyst Downgrade

Kenvue Inc. (NYSE:KVUE) reached a new 52-week low during trading on Wednesday after Citigroup lowered their price target on the stock from $21.00 to $20.00. Citigroup currently has a neutral rating on the stock. Kenvue traded as low as $17.72 and last traded at $17.74, with a volume of 11360712 shares trading hands. The stock had previously closed at $18.22.

KVUE has been the topic of a number of other reports. HSBC increased their price target on Kenvue from $20.00 to $21.00 and gave the stock a “hold” rating in a research report on Wednesday, May 8th. William Blair began coverage on Kenvue in a research note on Wednesday, April 3rd. They issued a “market perform” rating on the stock. Finally, Sanford C. Bernstein initiated coverage on shares of Kenvue in a research report on Thursday, April 11th. They set an “underperform” rating and a $18.00 price target for the company. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Kenvue presently has an average rating of “Hold” and an average price target of $23.00.

Institutional Investors Weigh In On Kenvue

Institutional investors and hedge funds have recently modified their holdings of the stock. Stephens Inc. AR lifted its position in shares of Kenvue by 86.1% in the fourth quarter. Stephens Inc. AR now owns 57,694 shares of the company’s stock worth $1,242,000 after purchasing an additional 26,700 shares in the last quarter. Stifel Financial Corp increased its position in Kenvue by 60.4% in the 4th quarter. Stifel Financial Corp now owns 745,064 shares of the company’s stock worth $16,041,000 after purchasing an additional 280,591 shares during the last quarter. Raleigh Capital Management Inc. raised its stake in shares of Kenvue by 93,834.8% during the 4th quarter. Raleigh Capital Management Inc. now owns 43,210 shares of the company’s stock worth $930,000 after purchasing an additional 43,164 shares in the last quarter. Fifth Third Bancorp grew its stake in shares of Kenvue by 35.3% in the 4th quarter. Fifth Third Bancorp now owns 277,580 shares of the company’s stock valued at $5,976,000 after buying an additional 72,435 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in Kenvue by 2.6% during the fourth quarter. The Manufacturers Life Insurance Company now owns 1,598,567 shares of the company’s stock valued at $34,417,000 after acquiring an additional 40,995 shares in the last quarter. Institutional investors and hedge funds own 97.64% of the company’s stock.

Kenvue Trading Up 2.3 %

The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.68 and a current ratio of 0.99. The company has a market cap of $35.12 billion, a price-to-earnings ratio of 23.51, a price-to-earnings-growth ratio of 1.87 and a beta of 1.40. The company’s 50 day moving average price is $19.00 and its 200 day moving average price is $19.78.

Kenvue (NYSE:KVUE) last announced its earnings results on Tuesday, May 7th. The company reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.03. Kenvue had a return on equity of 21.06% and a net margin of 9.63%. The firm had revenue of $2.89 billion during the quarter, compared to analysts’ expectations of $3.79 billion. The business’s revenue was down 24.9% compared to the same quarter last year. Research analysts anticipate that Kenvue Inc. will post 1.17 EPS for the current year.

Kenvue Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 22nd. Stockholders of record on Wednesday, May 8th were paid a $0.20 dividend. The ex-dividend date was Tuesday, May 7th. This represents a $0.80 annualized dividend and a dividend yield of 4.36%. Kenvue’s payout ratio is 102.56%.

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.