Short Interest in Kenvue Inc. (NYSE:KVUE) Expands By 28.1%

Kenvue Inc. (NYSE:KVUE) was the recipient of a significant increase in short interest during 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. Based on an average daily trading volume, of 15,330,000 shares, the short-interest ratio is presently 2.8 days. Currently, 2.2% of the shares of the stock are short sold.

Kenvue Stock Down 0.7 %

Shares of Kenvue stock traded down $0.15 during trading on Monday, reaching $22.06. The company’s stock had a trading volume of 7,785,956 shares, compared to its average volume of 17,599,004. Kenvue has a 1-year low of $17.67 and a 1-year high of $24.46. The company has a 50-day simple moving average of $22.95 and a two-hundred day simple moving average of $21.22. 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 market cap of $42.29 billion, a price-to-earnings ratio of 40.13, a P/E/G ratio of 2.02 and a beta of 1.36.

Kenvue (NYSE:KVUE) last announced its quarterly earnings data 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 firm had revenue of $3.90 billion for the quarter, compared to analyst estimates of $3.92 billion. Kenvue had a net margin of 6.88% and a return on equity of 21.43%. The business’s quarterly revenue was down .4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.31 earnings per share. As a group, equities analysts forecast that Kenvue will post 1.07 earnings per share for the current year.

Kenvue Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th were paid a $0.205 dividend. The ex-dividend date of this dividend was Wednesday, November 13th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 3.72%. Kenvue’s payout ratio is currently 149.09%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on KVUE shares. Piper Sandler boosted their price target on shares of Kenvue from $20.00 to $21.00 and gave the stock a “neutral” rating in a research report on Monday, September 23rd. JPMorgan Chase & Co. upped their target price on shares of Kenvue from $24.00 to $25.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. Jefferies Financial Group began coverage on shares of Kenvue in a report on Tuesday, September 24th. They issued a “buy” rating and a $27.00 price target for the company. Bank of America boosted their price objective on Kenvue from $24.00 to $27.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Finally, Barclays raised Kenvue to a “hold” rating in a research note on Thursday. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $22.64.

Institutional Investors Weigh In On Kenvue

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Riverview Trust Co acquired a new stake in shares of Kenvue during the 3rd quarter worth approximately $30,000. Ashton Thomas Securities LLC acquired a new stake in Kenvue during the third quarter valued at $35,000. Studio Investment Management LLC increased its holdings in Kenvue by 52.1% in the second quarter. Studio Investment Management LLC now owns 2,468 shares of the company’s stock valued at $45,000 after buying an additional 845 shares in the last quarter. Deseret Mutual Benefit Administrators raised its position 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 worth $45,000 after acquiring an additional 651 shares during the period. Finally, Brooklyn Investment Group purchased a new stake in shares of Kenvue during the 3rd quarter worth about $71,000. 97.64% of the stock is owned by institutional investors and hedge funds.

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.