Kenvue (NYSE:KVUE) Trading 5.2% Higher

Kenvue Inc. (NYSE:KVUE - Get Free Report) shares were up 5.2% during trading on Tuesday . The company traded as high as $20.06 and last traded at $19.87. Approximately 3,220,488 shares traded 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.

Analysts Set New Price Targets

Several research firms have recently commented on KVUE. William Blair began coverage on shares of Kenvue in a research report on Wednesday, April 3rd. They set a "market perform" rating for the company. Royal Bank of Canada dropped their price target on shares of Kenvue from $25.00 to $24.00 and set an "outperform" rating on the stock in a research note on Friday, February 9th. The Goldman Sachs Group initiated coverage on Kenvue in a research report on Friday, March 1st. They set a "neutral" rating and a $20.00 price objective for the company. JPMorgan Chase & Co. lowered their target price on Kenvue from $25.00 to $24.00 and set an "overweight" rating on the stock in a research report on Friday, February 9th. Finally, Sanford C. Bernstein assumed coverage on Kenvue in a research report on Thursday, April 11th. They set an "underperform" rating and a $18.00 price target for the company. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $24.85.

Kenvue Trading Up 5.2 %

The company's 50-day simple moving average is $19.85 and its 200-day simple moving average is $20.11. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.12 and a quick ratio of 0.78.

Kenvue (NYSE:KVUE - Get Free Report) last issued its earnings results on Thursday, February 8th. The company reported $0.31 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.28 by $0.03. Kenvue had a return on equity of 15.62% and a net margin of 9.87%. The business had revenue of $3.67 billion for the quarter, compared to analysts' expectations of $3.78 billion. Kenvue's revenue was down 2.7% compared to the same quarter last year. Sell-side analysts predict that Kenvue Inc. will post 1.15 earnings per share for the current year.

Kenvue Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Wednesday, May 8th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 3.98%. The ex-dividend date is Tuesday, May 7th.

Hedge Funds Weigh In On Kenvue

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Manchester Capital Management LLC grew its holdings in shares of Kenvue by 80.8% during the first quarter. Manchester Capital Management LLC now owns 1,186 shares of the company's stock valued at $25,000 after buying an additional 530 shares in the last quarter. Clearstead Advisors LLC purchased a new position in Kenvue during the 3rd quarter valued at about $25,000. Planned Solutions Inc. acquired a new position in shares of Kenvue in the 4th quarter valued at about $27,000. Mather Group LLC. purchased a new stake in shares of Kenvue in the first quarter worth approximately $28,000. Finally, Pacific Capital Wealth Advisors Inc. acquired a new stake in shares of Kenvue during the fourth quarter worth approximately $28,000. 97.64% of the stock is currently owned by hedge funds and other institutional investors.

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.