Short Interest in Kenvue Inc. (NYSE:KVUE) Decreases By 8.6%

Kenvue Inc. (NYSE:KVUE - Get Free Report) was the target of a large decline in short interest in December. As of December 31st, there was short interest totalling 35,720,000 shares, a decline of 8.6% from the December 15th total of 39,060,000 shares. Based on an average daily volume of 13,550,000 shares, the days-to-cover ratio is presently 2.6 days. Approximately 1.9% of the shares of the stock are sold short.

Kenvue Trading Down 0.4 %

KVUE traded down $0.09 during trading hours on Friday, reaching $21.11. 11,266,973 shares of the company's stock traded hands, compared to its average volume of 8,612,558. The firm has a 50-day moving average price of $22.42 and a 200 day moving average price of $21.69. The firm has a market capitalization of $40.46 billion, a PE ratio of 38.37, a PEG ratio of 1.99 and a beta of 1.46. The company has a quick ratio of 0.69, a current ratio of 1.00 and a debt-to-equity ratio of 0.66. Kenvue has a 52-week low of $17.67 and a 52-week high of $24.46.

Kenvue (NYSE:KVUE - Get Free Report) last issued its earnings results on Thursday, November 7th. The company reported $0.28 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.27 by $0.01. The firm had revenue of $3.90 billion during 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 revenue was down .4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.31 earnings per share. As a group, sell-side analysts predict that Kenvue will post 1.14 EPS for the current fiscal year.

Kenvue Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th will be issued a dividend of $0.205 per share. The ex-dividend date of this dividend is Wednesday, February 12th. This represents a $0.82 annualized dividend and a yield of 3.89%. Kenvue's payout ratio is currently 149.09%.

Institutional Investors Weigh In On Kenvue

Several hedge funds have recently made changes to their positions in KVUE. Huntington National Bank boosted its stake in shares of Kenvue by 26.5% during the third quarter. Huntington National Bank now owns 4,161 shares of the company's stock valued at $96,000 after purchasing an additional 871 shares in the last quarter. ING Groep NV boosted its position in Kenvue by 23.6% during the 3rd quarter. ING Groep NV now owns 3,576,616 shares of the company's stock valued at $82,727,000 after acquiring an additional 681,954 shares in the last quarter. Saturna Capital Corp boosted its position in Kenvue by 29.9% during the 3rd quarter. Saturna Capital Corp now owns 1,334,860 shares of the company's stock valued at $30,875,000 after acquiring an additional 307,039 shares in the last quarter. Everence Capital Management Inc. increased its holdings in shares of Kenvue by 122.1% in the 4th quarter. Everence Capital Management Inc. now owns 45,380 shares of the company's stock valued at $969,000 after acquiring an additional 24,950 shares during the period. Finally, Tyler Stone Wealth Management raised its position in shares of Kenvue by 134.4% in the 3rd quarter. Tyler Stone Wealth Management now owns 49,050 shares of the company's stock worth $1,135,000 after acquiring an additional 28,125 shares in the last quarter. 97.64% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

KVUE has been the topic of several research reports. Deutsche Bank Aktiengesellschaft cut Kenvue from a "buy" rating to a "hold" rating and reduced their target price for the stock from $25.00 to $24.00 in a report on Thursday, December 12th. UBS Group reduced their price objective on Kenvue from $24.00 to $23.00 and set a "neutral" rating on the stock in a research note on Thursday. Barclays lowered their target price on Kenvue from $23.00 to $21.00 and set an "equal weight" rating for the company in a research report on Friday. Piper Sandler upgraded shares of Kenvue from a "neutral" rating to an "overweight" rating and boosted their price target for the stock from $21.00 to $26.00 in a research report on Monday, January 6th. Finally, Jefferies Financial Group initiated coverage on shares of Kenvue in a research note on Tuesday, September 24th. They set a "buy" rating and a $27.00 price target on the stock. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $23.08.

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.