Kenvue (NYSE:KVUE) Shares Gap Up – Here’s What Happened

Kenvue Inc. (NYSE:KVUE)’s stock price gapped up prior to trading on Monday . The stock had previously closed at $14.37, but opened at $17.07. Kenvue shares last traded at $16.6520, with a volume of 66,887,499 shares traded.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. JPMorgan Chase & Co. cut their price target on Kenvue from $24.00 to $21.00 and set an “overweight” rating on the stock in a research note on Friday, October 10th. Rothschild & Co Redburn raised Kenvue from a “neutral” rating to a “buy” rating and lowered their price objective for the company from $22.50 to $22.00 in a report on Friday, September 26th. Jefferies Financial Group lowered their price objective on Kenvue from $25.00 to $23.00 and set a “buy” rating for the company in a report on Monday, October 27th. Redburn Partners set a $22.00 price objective on Kenvue in a report on Friday, September 26th. Finally, Johnson Rice reissued a “neutral” rating on shares of Kenvue in a report on Tuesday, October 28th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $20.17.

Kenvue Price Performance

The company has a market capitalization of $31.47 billion, a P/E ratio of 22.20, a price-to-earnings-growth ratio of 2.07 and a beta of 0.72. The company has a fifty day moving average price of $17.21 and a 200 day moving average price of $20.50. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.98 and a quick ratio of 0.68.

Kenvue (NYSE:KVUE) last posted its earnings results on Thursday, November 6th. The company reported $0.28 EPS for the quarter, beating the consensus estimate of $0.27 by $0.01. Kenvue had a return on equity of 20.06% and a net margin of 9.37%.Kenvue’s quarterly revenue was down 3.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.28 earnings per share. On average, sell-side analysts forecast that Kenvue Inc. will post 1.14 EPS for the current fiscal year.

Kenvue Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 26th. Stockholders of record on Wednesday, November 12th will be issued a dividend of $0.2075 per share. The ex-dividend date of this dividend is Wednesday, November 12th. This represents a $0.83 annualized dividend and a dividend yield of 5.1%. Kenvue’s dividend payout ratio is 112.16%.

Hedge Funds Weigh In On Kenvue

Institutional investors have recently made changes to their positions in the stock. Salomon & Ludwin LLC bought a new position in shares of Kenvue during the third quarter valued at approximately $25,000. NBT Bank N A NY grew its holdings in Kenvue by 180.3% in the 3rd quarter. NBT Bank N A NY now owns 1,564 shares of the company’s stock worth $25,000 after buying an additional 1,006 shares in the last quarter. Pittenger & Anderson Inc. bought a new position in Kenvue in the 1st quarter worth approximately $30,000. Trust Co. of Vermont grew its holdings in Kenvue by 266.8% in the 2nd quarter. Trust Co. of Vermont now owns 1,581 shares of the company’s stock worth $33,000 after buying an additional 1,150 shares in the last quarter. Finally, TruNorth Capital Management LLC bought a new position in Kenvue in the 1st quarter worth approximately $36,000. 97.64% of the stock is owned by institutional investors.

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.