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

Kenvue Inc. (NYSE:KVUE)’s share price gapped up before the market opened on Monday . The stock had previously closed at $21.72, but opened at $22.95. Kenvue shares last traded at $23.09, with a volume of 6,965,026 shares trading hands.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on KVUE. Deutsche Bank Aktiengesellschaft increased their price objective on Kenvue from $23.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. UBS Group upped their price objective on shares of Kenvue from $20.00 to $22.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Piper Sandler raised their target price on shares of Kenvue from $20.00 to $21.00 and gave the stock a “neutral” rating in a report on Monday, September 23rd. Bank of America increased their price target on Kenvue from $24.00 to $27.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, JPMorgan Chase & Co. boosted their target price on shares of Kenvue from $24.00 to $25.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $22.64.

Kenvue Stock Up 0.0 %

The firm has a market cap of $43.91 billion, a PE ratio of 29.40, a PEG ratio of 2.76 and a beta of 1.40. The business’s 50 day moving average price is $22.33 and its 200 day moving average price is $20.24. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.99 and a quick ratio of 0.68.

Kenvue (NYSE:KVUE) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.28 by $0.04. The company had revenue of $4 billion during the quarter, compared to analyst estimates of $3.93 billion. Kenvue had a return on equity of 21.80% and a net margin of 7.23%. Kenvue’s quarterly revenue was down .3% on a year-over-year basis. During the same period in the previous year, the business earned $0.32 EPS. On average, equities research analysts expect that Kenvue Inc. will post 1.08 earnings per share for the current year.

Kenvue Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th will be issued a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a dividend yield of 3.58%. The ex-dividend date is Wednesday, November 13th. Kenvue’s payout ratio is 105.13%.

Hedge Funds Weigh In On Kenvue

Several hedge funds and other institutional investors have recently modified their holdings of the business. Manchester Capital Management LLC raised its holdings in Kenvue by 80.8% in the 1st quarter. Manchester Capital Management LLC now owns 1,186 shares of the company’s stock valued at $25,000 after acquiring an additional 530 shares during the last quarter. Riverview Trust Co purchased a new position in Kenvue during the third quarter worth approximately $30,000. Mather Group LLC. purchased a new position in Kenvue during the first quarter worth approximately $28,000. MV Capital Management Inc. boosted its stake in Kenvue by 71.2% during the first quarter. MV Capital Management Inc. now owns 1,544 shares of the company’s stock worth $33,000 after buying an additional 642 shares during the last quarter. Finally, Salomon & Ludwin LLC purchased a new stake in Kenvue in the 1st quarter valued at $33,000. 97.64% of the stock is 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.