Kenvue (NYSE:KVUE) Hits New 12-Month High - Here's Why

Kenvue Inc. (NYSE:KVUE - Get Free Report) hit a new 52-week high on Wednesday . The company traded as high as $23.72 and last traded at $23.61, with a volume of 15989605 shares. The stock had previously closed at $23.38.

Analyst Ratings Changes

Several research firms have recently weighed in on KVUE. Evercore ISI began coverage on shares of Kenvue in a research note on Monday, March 24th. They issued an "in-line" rating and a $25.00 target price for the company. Redburn Atlantic started coverage on Kenvue in a research note on Thursday, April 10th. They issued a "neutral" rating and a $23.50 price target for the company. UBS Group reduced their price objective on Kenvue from $23.00 to $21.00 and set a "neutral" rating for the company in a research report on Friday, February 7th. Barclays reduced their target price on Kenvue from $23.00 to $22.00 and set an "equal weight" rating for the company in a report on Monday, April 14th. Finally, Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $24.00 price objective on shares of Kenvue in a report on Monday, February 3rd. Eight investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Kenvue currently has an average rating of "Hold" and a consensus target price of $24.42.

Kenvue Trading Down 1.3 %

The stock has a market cap of $45.41 billion, a price-to-earnings ratio of 44.65, a PEG ratio of 2.62 and a beta of 1.02. The company has a quick ratio of 0.69, a current ratio of 1.00 and a debt-to-equity ratio of 0.66. The business has a 50-day moving average of $23.09 and a 200-day moving average of $22.52.

Kenvue (NYSE:KVUE - Get Free Report) last released its earnings results on Thursday, February 6th. The company reported $0.26 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.26. Kenvue had a net margin of 6.66% and a return on equity of 20.97%. As a group, research analysts forecast that Kenvue Inc. will post 1.14 earnings per share for the current year.

Kenvue Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 28th. Shareholders of record on Wednesday, May 14th will be paid a dividend of $0.205 per share. The ex-dividend date is Wednesday, May 14th. This represents a $0.82 dividend on an annualized basis and a yield of 3.46%. Kenvue's dividend payout ratio (DPR) is presently 154.72%.

Institutional Trading of Kenvue

Hedge funds have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD increased its position in shares of Kenvue by 3.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 245,885,918 shares of the company's stock worth $5,249,665,000 after acquiring an additional 8,211,748 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Kenvue by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 218,543,705 shares of the company's stock valued at $4,665,908,000 after buying an additional 1,636,741 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Kenvue by 12.3% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 97,661,344 shares of the company's stock valued at $2,085,070,000 after purchasing an additional 10,682,003 shares during the period. Geode Capital Management LLC lifted its stake in shares of Kenvue by 3.1% in the 4th quarter. Geode Capital Management LLC now owns 46,068,931 shares of the company's stock valued at $980,989,000 after purchasing an additional 1,391,854 shares during the period. Finally, Franklin Resources Inc. boosted its stake in Kenvue by 61.5% in the 4th quarter. Franklin Resources Inc. now owns 42,719,377 shares of the company's stock worth $912,059,000 after purchasing an additional 16,269,721 shares in the last quarter. 97.64% of the stock is owned by institutional investors and hedge funds.

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.