Kenvue (NYSE:KVUE) Sets New 52-Week Low on Analyst Downgrade

Kenvue Inc. (NYSE:KVUE)’s stock price hit a new 52-week low on Wednesday after Citigroup lowered their price target on the stock from $21.00 to $20.00. Citigroup currently has a neutral rating on the stock. Kenvue traded as low as $17.72 and last traded at $17.74, with a volume of 11360712 shares. The stock had previously closed at $18.22.

Several other equities analysts have also recently weighed in on KVUE. Sanford C. Bernstein initiated coverage on Kenvue in a research report on Thursday, April 11th. They set an “underperform” rating and a $18.00 price objective for the company. HSBC boosted their price objective on Kenvue from $20.00 to $21.00 and gave the stock a “hold” rating in a research report on Wednesday, May 8th. Finally, William Blair initiated coverage on Kenvue in a research report on Wednesday, April 3rd. They set a “market perform” rating for the company. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $23.00.

Institutional Investors Weigh In On Kenvue

Several large investors have recently modified their holdings of KVUE. Vanguard Group Inc. bought a new stake in shares of Kenvue in the 3rd quarter valued at approximately $2,944,816,000. Price T Rowe Associates Inc. MD grew its stake in shares of Kenvue by 23.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 134,565,333 shares of the company’s stock valued at $2,887,773,000 after purchasing an additional 25,238,112 shares during the period. Norges Bank bought a new stake in shares of Kenvue in the 4th quarter valued at approximately $282,100,000. Clearbridge Investments LLC grew its stake in shares of Kenvue by 16,051.1% in the 1st quarter. Clearbridge Investments LLC now owns 9,813,597 shares of the company’s stock valued at $210,600,000 after purchasing an additional 9,752,836 shares during the period. Finally, Van ECK Associates Corp bought a new stake in shares of Kenvue in the 1st quarter valued at approximately $208,745,000. 97.64% of the stock is currently owned by institutional investors.

Kenvue Stock Performance

The company has a market capitalization of $35.12 billion, a P/E ratio of 23.51, a price-to-earnings-growth ratio of 1.87 and a beta of 1.40. The firm has a 50 day moving average price of $19.00 and a two-hundred day moving average price of $19.78. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.68 and a current ratio of 0.99.

Kenvue (NYSE:KVUE) last released its quarterly earnings results on Tuesday, May 7th. The company reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.03. The business had revenue of $2.89 billion for the quarter, compared to analyst estimates of $3.79 billion. Kenvue had a return on equity of 21.06% and a net margin of 9.63%. Kenvue’s revenue for the quarter was down 24.9% on a year-over-year basis. On average, research analysts expect that Kenvue Inc. will post 1.17 earnings per share for the current fiscal year.

Kenvue Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 22nd. Investors of record on Wednesday, May 8th were given a dividend of $0.20 per share. The ex-dividend date was Tuesday, May 7th. This represents a $0.80 dividend on an annualized basis and a yield of 4.36%. Kenvue’s dividend payout ratio (DPR) is presently 102.56%.

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.