Kenvue Inc. (NYSE:KVUE) Short Interest Update

Kenvue Inc. (NYSE:KVUE - Get Free Report) was the recipient of a significant increase in short interest during the month of October. As of October 31st, there was short interest totalling 38,500,000 shares, an increase of 23.8% from the October 15th total of 31,090,000 shares. Based on an average daily volume of 15,340,000 shares, the days-to-cover ratio is presently 2.5 days. Currently, 2.0% of the company's stock are short sold.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on KVUE shares. UBS Group upped their price objective on shares of Kenvue from $20.00 to $22.00 and gave the company a "neutral" rating in a research note on Wednesday, August 7th. Royal Bank of Canada downgraded Kenvue from an "outperform" rating to a "sector perform" rating and set a $24.00 price target on the stock. in a research note on Tuesday, September 24th. Piper Sandler increased their price objective on Kenvue from $20.00 to $21.00 and gave the company a "neutral" rating in a report on Monday, September 23rd. JPMorgan Chase & Co. lifted their target price on shares of Kenvue from $24.00 to $25.00 and gave the company an "overweight" rating in a report on Friday, October 11th. Finally, Bank of America lifted their price objective on shares of Kenvue from $24.00 to $27.00 and gave the company a "buy" rating in a research note on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $22.64.

Hedge Funds Weigh In On Kenvue

Several hedge funds have recently bought and sold shares of KVUE. Riverview Trust Co acquired a new position in shares of Kenvue during the 3rd quarter worth approximately $30,000. Ashton Thomas Securities LLC acquired a new position in shares of Kenvue in the third quarter worth $35,000. Deseret Mutual Benefit Administrators lifted 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 valued at $45,000 after acquiring an additional 651 shares in the last quarter. Studio Investment Management LLC increased its position in Kenvue by 52.1% during the 2nd quarter. Studio Investment Management LLC now owns 2,468 shares of the company's stock worth $45,000 after purchasing an additional 845 shares in the last quarter. Finally, Brooklyn Investment Group acquired a new position in Kenvue in the 3rd quarter valued at about $71,000. 97.64% of the stock is owned by hedge funds and other institutional investors.

Kenvue Price Performance

KVUE stock traded up $0.23 on Friday, reaching $23.84. 16,166,858 shares of the company's stock were exchanged, compared to its average volume of 18,054,082. Kenvue has a twelve month low of $17.67 and a twelve month high of $24.13. 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 stock has a fifty day moving average of $22.75 and a 200-day moving average of $20.65. The firm has a market cap of $45.70 billion, a PE ratio of 43.31, a P/E/G ratio of 2.10 and a beta of 1.36.

Kenvue (NYSE:KVUE - Get Free Report) last announced its quarterly 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 business had revenue of $3.90 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter last year, the firm posted $0.31 EPS. As a group, equities analysts predict that Kenvue will post 1.07 EPS for the current fiscal year.

Kenvue Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th will be paid a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a dividend yield of 3.44%. The ex-dividend date is Wednesday, November 13th. Kenvue's dividend payout ratio (DPR) is 149.09%.

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.