Kenvue (NYSE:KVUE) Stock Price Up 2.3%

Kenvue Inc. (NYSE:KVUE)’s stock price was up 2.3% during mid-day trading on Wednesday . The company traded as high as $21.56 and last traded at $21.55. Approximately 2,686,388 shares changed hands during trading, a decline of 90% from the average daily volume of 26,177,586 shares. The stock had previously closed at $21.06.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Bank of America initiated coverage on Kenvue in a report on Tuesday, May 30th. They set a “buy” rating and a $30.00 price target for the company. Argus began coverage on Kenvue in a report on Wednesday, September 6th. They set a “hold” rating for the company. Edward Jones began coverage on shares of Kenvue in a research report on Tuesday, July 25th. They issued a “buy” rating for the company. The Goldman Sachs Group raised shares of Kenvue from a “neutral” rating to a “buy” rating and set a $29.00 price target on the stock in a research report on Thursday, August 24th. Finally, Canaccord Genuity Group assumed coverage on shares of Kenvue in a report on Thursday, September 7th. They issued a “buy” rating and a $28.00 price objective for the company. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $28.09.

Kenvue Trading Up 0.6 %

The company has a current ratio of 1.17, a quick ratio of 0.79 and a debt-to-equity ratio of 0.70. The company has a fifty day moving average of $23.53.

Kenvue (NYSE:KVUE) last released its earnings results on Thursday, July 20th. The company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.02. The business had revenue of $4.01 billion for the quarter, compared to the consensus estimate of $3.96 billion. The business’s revenue was up 5.4% compared to the same quarter last year. On average, research analysts forecast that Kenvue Inc. will post 1.26 earnings per share for the current year.

Kenvue Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 7th. Shareholders of record on Monday, August 28th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 3.68%. The ex-dividend date of this dividend was Friday, August 25th.

Insider Transactions at Kenvue

In related news, Director Richard E. Allison, Jr. purchased 5,598 shares of the firm’s stock in a transaction that occurred on Wednesday, August 30th. The shares were bought at an average cost of $22.96 per share, with a total value of $128,530.08. Following the acquisition, the director now owns 25,598 shares of the company’s stock, valued at approximately $587,730.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Institutional Investors Weigh In On Kenvue

Hedge funds and other institutional investors have recently bought and sold shares of the company. Kistler Tiffany Companies LLC bought a new position in shares of Kenvue during the second quarter valued at $26,000. KBC Group NV bought a new position in shares of Kenvue in the 2nd quarter worth $866,000. Raymond James & Associates acquired a new position in shares of Kenvue during the second quarter valued at about $9,534,000. DekaBank Deutsche Girozentrale acquired a new stake in shares of Kenvue in the 2nd quarter worth about $8,629,000. Finally, Lipe & Dalton bought a new position in Kenvue in the 2nd quarter valued at about $1,147,000. Institutional investors own 11.33% of the company’s stock.

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, and other products under the Tylenol, Nicorette, and Zyrtec brands.