Kenvue Inc. (NYSE:KVUE) Declares $0.21 Quarterly Dividend

Key Points

• Kenvue declared a quarterly dividend of $0.21 per share, payable October 2 to shareholders of record September 21. The dividend equates to an annualized $0.84 per share and a 4.7% yield.
• The dividend appears adequately covered, with a current payout ratio of 68.9% and an expected forward payout ratio of 68.3% based on projected earnings.
• Kenvue’s latest quarterly results slightly missed expectations, reporting $0.31 in EPS and $3.96 billion in revenue, while analysts maintain an overall “Hold” rating with an average price target of $19.27.

Kenvue Inc. (NYSE:KVUE - Get Free Report) declared a quarterly dividend on Thursday, September 10th. Stockholders of record on Monday, September 21st will be paid a dividend of 0.21 per share on Friday, October 2nd. This represents a c) annualized dividend and a dividend yield of 4.7%. The ex-dividend date is Monday, September 21st.

Kenvue has a payout ratio of 68.9% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Kenvue to earn $1.23 per share next year, which means the company should continue to be able to cover its $0.84 annual dividend with an expected future payout ratio of 68.3%.

Kenvue Price Performance

Shares of NYSE:KVUE traded up $0.03 during trading on Thursday, hitting $17.77. 64,381,411 shares of the company's stock were exchanged, compared to its average volume of 27,907,049. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.01 and a quick ratio of 0.71. Kenvue has a 52-week low of $14.02 and a 52-week high of $20.13. The business's 50-day simple moving average is $19.13 and its 200 day simple moving average is $18.25. The company has a market cap of $34.14 billion, a price-to-earnings ratio of 20.43, a PEG ratio of 1.64 and a beta of 0.46.

Kenvue (NYSE:KVUE - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The company reported $0.31 EPS for the quarter, missing analysts' consensus estimates of $0.32 by ($0.01). Kenvue had a return on equity of 21.22% and a net margin of 10.76%.The business had revenue of $3.96 billion during the quarter, compared to analysts' expectations of $3.97 billion. During the same period in the prior year, the firm posted $0.29 earnings per share. The firm's revenue for the quarter was up 3.0% on a year-over-year basis. As a group, equities analysts predict that Kenvue will post 1.14 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Zacks Research downgraded shares of Kenvue from a "strong-buy" rating to a "hold" rating in a report on Tuesday, July 7th. Barclays lifted their target price on Kenvue from $18.00 to $19.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 21st. UBS Group cut their price target on Kenvue from $20.00 to $19.00 and set a "neutral" rating for the company in a report on Tuesday, August 11th. Weiss Ratings raised Kenvue from a "hold (c-)" rating to a "hold (c)" rating in a report on Monday, June 15th. Finally, Wall Street Zen lowered shares of Kenvue from a "buy" rating to a "hold" rating in a report on Saturday, August 8th. Three analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company's stock. Based on data from MarketBeat, Kenvue currently has an average rating of "Hold" and an average target price of $19.27.

About Kenvue

Kenvue Inc is a global consumer health company that develops, markets and sells products designed to support everyday health and personal care. Its portfolio spans over-the-counter medicines, skin health and beauty, essential health products, and baby and family care.

The company's brands include Tylenol, Motrin, Zyrtec and Benadryl in self-care; Neutrogena, Aveeno and Clean & Clear in skin health and beauty; Listerine in oral care; and Johnson's and Band-Aid in baby care and essential health.

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