Kenvue (NYSE:KVUE) Shares Gap Up - Still a Buy?

Kenvue Inc. (NYSE:KVUE - Get Free Report) shares gapped up before the market opened on Monday . The stock had previously closed at $21.34, but opened at $22.58. Kenvue shares last traded at $21.02, with a volume of 15,067,408 shares.

Analyst Upgrades and Downgrades

A number of research firms have commented on KVUE. Redburn Atlantic began coverage on Kenvue in a research report on Thursday, April 10th. They set a "neutral" rating and a $23.50 target price on the stock. Barclays lifted their price target on Kenvue from $22.00 to $23.00 and gave the stock an "equal weight" rating in a research note on Monday, May 12th. Citigroup reissued a "neutral" rating on shares of Kenvue in a research note on Friday, June 13th. UBS Group lifted their target price on shares of Kenvue from $24.00 to $25.00 and gave the stock a "neutral" rating in a research report on Friday, May 9th. Finally, Evercore ISI initiated coverage on shares of Kenvue in a research report on Monday, March 24th. They issued an "in-line" rating and a $25.00 price target on the stock. Seven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $25.33.

Kenvue Price Performance

The stock's 50-day moving average is $22.34 and its 200-day moving average is $22.29. The company has a quick ratio of 0.60, a current ratio of 0.86 and a debt-to-equity ratio of 0.63. The firm has a market cap of $41.33 billion, a P/E ratio of 39.16, a price-to-earnings-growth ratio of 3.32 and a beta of 0.83.

Kenvue (NYSE:KVUE - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.23 by $0.01. The business had revenue of $3.74 billion during the quarter, compared to the consensus estimate of $3.69 billion. Kenvue had a return on equity of 20.87% and a net margin of 6.90%. Kenvue's revenue was down 3.9% on a year-over-year basis. During the same quarter last year, the company earned $0.28 EPS. As a group, equities analysts anticipate that Kenvue Inc. will post 1.14 EPS for the current fiscal year.

Kenvue Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 28th. Investors of record on Wednesday, May 14th were paid a dividend of $0.205 per share. The ex-dividend date was Wednesday, May 14th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 3.81%. Kenvue's dividend payout ratio (DPR) is presently 149.09%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Proficio Capital Partners LLC bought a new position in Kenvue during the 4th quarter worth $1,643,000. Sequoia Financial Advisors LLC grew its holdings in shares of Kenvue by 18.7% during the 4th quarter. Sequoia Financial Advisors LLC now owns 29,309 shares of the company's stock valued at $626,000 after purchasing an additional 4,619 shares during the last quarter. Farther Finance Advisors LLC lifted its stake in shares of Kenvue by 11.4% in the 4th quarter. Farther Finance Advisors LLC now owns 20,659 shares of the company's stock valued at $441,000 after acquiring an additional 2,117 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Kenvue by 5.9% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 20,852 shares of the company's stock valued at $445,000 after purchasing an additional 1,155 shares in the last quarter. Finally, Commonwealth Equity Services LLC increased its position in Kenvue by 5.7% in the 4th quarter. Commonwealth Equity Services LLC now owns 277,208 shares of the company's stock valued at $5,918,000 after acquiring an additional 14,882 shares during the period. 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.

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