Kenvue Inc. (NYSE:KVUE) Sees Significant Increase in Short Interest

Kenvue Inc. (NYSE:KVUE) saw a significant increase in short interest in the month of November. As of November 30th, there was short interest totalling 42,410,000 shares, an increase of 28.1% from the November 15th total of 33,110,000 shares. Approximately 2.2% of the shares of the company are sold short. Based on an average daily volume of 15,330,000 shares, the days-to-cover ratio is presently 2.8 days.

Kenvue Stock Performance

Kenvue stock traded down $0.11 on Friday, hitting $22.21. The company’s stock had a trading volume of 9,184,286 shares, compared to its average volume of 17,639,725. Kenvue has a one year low of $17.67 and a one year high of $24.46. The firm has a market cap of $42.58 billion, a P/E ratio of 40.38, a price-to-earnings-growth ratio of 2.02 and a beta of 1.36. 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 company has a fifty day moving average price of $22.95 and a 200-day moving average price of $21.20.

Kenvue (NYSE:KVUE) last posted its earnings results on Thursday, November 7th. The company reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.01. The business had revenue of $3.90 billion for the quarter, compared to analysts’ expectations of $3.92 billion. Kenvue had a net margin of 6.88% and a return on equity of 21.43%. The firm’s revenue for the quarter was down .4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.31 earnings per share. On average, equities analysts anticipate that Kenvue will post 1.07 earnings per share for the current year.

Kenvue Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th were issued a dividend of $0.205 per share. The ex-dividend date was Wednesday, November 13th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 3.69%. Kenvue’s payout ratio is presently 149.09%.

Institutional Investors Weigh In On Kenvue

Large investors have recently made changes to their positions in the company. Riverview Trust Co bought a new stake in Kenvue during the 3rd quarter worth approximately $30,000. Ashton Thomas Securities LLC bought a new stake in shares of Kenvue during the third quarter worth $35,000. Studio Investment Management LLC grew its holdings in shares of Kenvue by 52.1% during the second quarter. Studio Investment Management LLC now owns 2,468 shares of the company’s stock worth $45,000 after purchasing an additional 845 shares during the last quarter. Deseret Mutual Benefit Administrators raised its holdings in shares of Kenvue by 49.7% in the third quarter. Deseret Mutual Benefit Administrators now owns 1,960 shares of the company’s stock valued at $45,000 after buying an additional 651 shares during the last quarter. Finally, Brooklyn Investment Group bought a new stake in Kenvue during the 3rd quarter worth about $71,000. Institutional investors own 97.64% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Jefferies Financial Group began coverage on shares of Kenvue in a research report on Tuesday, September 24th. They set a “buy” rating and a $27.00 target price for the company. Deutsche Bank Aktiengesellschaft cut Kenvue from a “buy” rating to a “hold” rating and cut their price objective for the stock from $25.00 to $24.00 in a research report on Thursday. Barclays upgraded Kenvue to a “hold” rating in a research note on Thursday. JPMorgan Chase & Co. lifted their price target on Kenvue from $24.00 to $25.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. Finally, Piper Sandler upped their price target on Kenvue from $20.00 to $21.00 and gave the stock a “neutral” rating in a report on Monday, September 23rd. One analyst has rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $22.64.

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.