Kenvue Inc. (NYSE:KVUE) Increases Dividend to $0.21 Per Share

Key Points

• Kenvue Inc. has declared a quarterly dividend of $0.21 per share, which is an increase of 1.2% from its previous dividend.
• The company's stock has a current market capitalization of $42.59 billion, with a PE ratio of 40.36 and a debt-to-equity ratio of 0.63.
• Despite reporting a quarterly earnings per share (EPS) of $0.24, Kenvue's revenue was down 3.9% year-over-year, prompting analysts to adjust their target prices downwards.

Kenvue Inc. (NYSE:KVUE - Get Free Report) declared a quarterly dividend on Wednesday, July 30th, RTT News reports. Investors of record on Wednesday, August 13th will be given a dividend of 0.2075 per share on Wednesday, August 27th. This represents a c) annualized dividend and a dividend yield of 3.8%. The ex-dividend date is Wednesday, August 13th. This is a 1.2% increase from Kenvue's previous quarterly dividend of $0.21.

Kenvue has a payout ratio of 67.2% meaning its dividend is sufficiently covered by earnings. Research analysts expect Kenvue to earn $1.24 per share next year, which means the company should continue to be able to cover its $0.82 annual dividend with an expected future payout ratio of 66.1%.

Kenvue Stock Performance

Shares of NYSE KVUE traded up $0.16 during mid-day trading on Friday, hitting $21.60. The stock had a trading volume of 13,846,355 shares, compared to its average volume of 18,076,148. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.60 and a current ratio of 0.86. The company has a 50 day moving average of $21.82 and a two-hundred day moving average of $22.38. Kenvue has a twelve month low of $18.10 and a twelve month high of $25.17. The firm has a market cap of $41.44 billion, a PE ratio of 39.27, a PEG ratio of 3.59 and a beta of 0.83.

Kenvue (NYSE:KVUE - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.23 by $0.01. Kenvue had a net margin of 6.90% and a return on equity of 20.87%. The company had revenue of $3.74 billion for the quarter, compared to analyst estimates of $3.69 billion. During the same period in the prior year, the company earned $0.28 earnings per share. The firm's revenue was down 3.9% on a year-over-year basis. Research analysts predict that Kenvue will post 1.14 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Barclays lowered their price target on shares of Kenvue from $23.00 to $22.00 and set an "equal weight" rating on the stock in a report on Tuesday, July 15th. Redburn Atlantic assumed coverage on shares of Kenvue in a report on Thursday, April 10th. They issued a "neutral" rating and a $23.50 price target on the stock. UBS Group lowered their price target on shares of Kenvue from $25.00 to $23.00 and set a "neutral" rating on the stock in a report on Thursday, July 17th. JPMorgan Chase & Co. lowered their target price on shares of Kenvue from $27.00 to $26.00 and set an "overweight" rating on the stock in a research note on Friday, July 25th. Finally, Citigroup lowered their target price on shares of Kenvue from $24.50 to $22.00 and set a "neutral" rating on the stock in a research note on Tuesday, July 15th. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, Kenvue currently has an average rating of "Hold" and an average price target of $24.79.

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.