Kenvue (NYSE:KVUE) Stock Price Up 5.2% Following Strong Earnings

Kenvue Inc. (NYSE:KVUE) shares rose 5.2% during mid-day trading on Tuesday after the company announced better than expected quarterly earnings. The company traded as high as $20.06 and last traded at $19.87. Approximately 3,220,488 shares were traded during mid-day trading, a decline of 81% from the average daily volume of 16,736,973 shares. The stock had previously closed at $18.88.

The company reported $0.28 EPS for the quarter, topping the consensus estimate of $0.25 by $0.03. The company had revenue of $2.89 billion during the quarter, compared to analyst estimates of $3.79 billion. Kenvue had a return on equity of 15.62% and a net margin of 9.87%. The company’s quarterly revenue was down 24.9% on a year-over-year basis.

Kenvue Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Wednesday, May 8th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 3.89%. The ex-dividend date of this dividend is Tuesday, May 7th.

Analyst Ratings Changes

Several brokerages have issued reports on KVUE. William Blair began coverage on shares of Kenvue in a research note on Wednesday, April 3rd. They issued a “market perform” rating for the company. Royal Bank of Canada decreased their price target on shares of Kenvue from $25.00 to $24.00 and set an “outperform” rating for the company in a research note on Friday, February 9th. JPMorgan Chase & Co. decreased their price target on shares of Kenvue from $25.00 to $24.00 and set an “overweight” rating for the company in a research note on Friday, February 9th. The Goldman Sachs Group began coverage on shares of Kenvue in a research note on Friday, March 1st. They set a “neutral” rating and a $20.00 price target for the company. Finally, Sanford C. Bernstein began coverage on shares of Kenvue in a research note on Thursday, April 11th. They issued an “underperform” rating and a $18.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $24.38.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of KVUE. Clearstead Advisors LLC acquired a new position in shares of Kenvue in the third quarter worth about $25,000. Manchester Capital Management LLC raised its position in shares of Kenvue by 80.8% in the first quarter. Manchester Capital Management LLC now owns 1,186 shares of the company’s stock worth $25,000 after acquiring an additional 530 shares during the period. Planned Solutions Inc. acquired a new position in shares of Kenvue in the fourth quarter worth about $27,000. Venturi Wealth Management LLC acquired a new position in shares of Kenvue in the third quarter worth about $28,000. Finally, EverSource Wealth Advisors LLC acquired a new position in shares of Kenvue in the third quarter worth about $28,000. Institutional investors and hedge funds own 97.64% of the company’s stock.

Kenvue Price Performance

The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.78 and a current ratio of 1.12. The firm’s 50-day moving average is $19.90 and its two-hundred day moving average is $20.12.

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.