Kenvue (NYSE:KVUE) Stock Price Up 5.2% After Better-Than-Expected Earnings

Kenvue Inc. (NYSE:KVUE)’s stock price rose 5.2% on Tuesday following a better than expected earnings announcement. The company traded as high as $20.06 and last traded at $19.87. Approximately 3,220,488 shares changed hands during trading, a decline of 81% from the average daily volume of 16,736,973 shares. The stock had previously closed at $18.88.

The company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.03. Kenvue had a return on equity of 15.62% and a net margin of 9.87%. The business had revenue of $2.89 billion for the quarter, compared to analysts’ expectations of $3.79 billion. The business’s quarterly revenue was down 24.9% on a year-over-year basis.

Kenvue Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Wednesday, May 8th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.89%. The ex-dividend date of this dividend is Tuesday, May 7th.

Analysts Set New Price Targets

A number of brokerages recently issued reports on KVUE. HSBC lifted their target price on Kenvue from $20.00 to $21.00 and gave the company a “hold” rating in a research report on Wednesday. Royal Bank of Canada lowered their price target on Kenvue from $25.00 to $24.00 and set an “outperform” rating on the stock in a research report on Friday, February 9th. William Blair initiated coverage on Kenvue in a research note on Wednesday, April 3rd. They set a “market perform” rating for the company. Sanford C. Bernstein initiated coverage on Kenvue in a research note on Thursday, April 11th. They issued an “underperform” rating and a $18.00 price target for the company. Finally, JPMorgan Chase & Co. reduced their price target on Kenvue from $25.00 to $24.00 and set an “overweight” rating for the company in a research note on Friday, February 9th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, Kenvue currently has an average rating of “Hold” and an average target price of $24.38.

Institutional Investors Weigh In On Kenvue

Several large investors have recently added to or reduced their stakes in KVUE. Clearstead Advisors LLC acquired a new stake in Kenvue in the third quarter valued at approximately $25,000. Manchester Capital Management LLC lifted its holdings in shares of Kenvue by 80.8% in the first quarter. Manchester Capital Management LLC now owns 1,186 shares of the company’s stock valued at $25,000 after purchasing an additional 530 shares in the last quarter. Planned Solutions Inc. bought a new position in shares of Kenvue in the fourth quarter valued at approximately $27,000. Venturi Wealth Management LLC bought a new position in shares of Kenvue in the third quarter valued at approximately $28,000. Finally, EverSource Wealth Advisors LLC bought a new position in shares of Kenvue in the third quarter valued at approximately $28,000. Institutional investors and hedge funds own 97.64% of the company’s stock.

Kenvue Stock Performance

The company has a quick ratio of 0.78, a current ratio of 1.12 and a debt-to-equity ratio of 0.69. The stock has a fifty day moving average price of $19.90 and a two-hundred day moving average price of $20.12.

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.