Kenvue Inc. (NYSE:KVUE) Short Interest Down 29.3% in January

Kenvue Inc. (NYSE:KVUE) was the target of a large drop in short interest during the month of January. As of January 30th, there was short interest totaling 52,530,388 shares, a drop of 29.3% from the January 15th total of 74,325,166 shares. Based on an average trading volume of 56,045,387 shares, the days-to-cover ratio is currently 0.9 days. Approximately 2.7% of the company’s shares are short sold. Approximately 2.7% of the company’s shares are short sold. Based on an average trading volume of 56,045,387 shares, the days-to-cover ratio is currently 0.9 days.

Kenvue Stock Up 0.8%

Shares of KVUE traded up $0.15 during midday trading on Friday, reaching $18.70. The stock had a trading volume of 45,435,319 shares, compared to its average volume of 59,385,720. The company has a market cap of $35.82 billion, a price-to-earnings ratio of 24.93 and a beta of 0.59. The company’s fifty day simple moving average is $17.38 and its two-hundred day simple moving average is $17.70. Kenvue has a 1-year low of $14.02 and a 1-year high of $25.17. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.98 and a quick ratio of 0.69.

Kenvue Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 25th. Shareholders of record on Wednesday, February 11th will be issued a dividend of $0.2075 per share. This represents a $0.83 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date of this dividend is Wednesday, February 11th. Kenvue’s payout ratio is 110.67%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on KVUE. Evercore set a $18.00 price objective on Kenvue in a research note on Tuesday, October 28th. Zacks Research raised shares of Kenvue from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 26th. Canaccord Genuity Group restated a “hold” rating and issued a $15.00 price objective (down previously from $26.00) on shares of Kenvue in a report on Wednesday, October 29th. Deutsche Bank Aktiengesellschaft set a $18.00 target price on shares of Kenvue in a research note on Friday, October 24th. Finally, Edward Jones cut shares of Kenvue from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 3rd. Four analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $19.46.

Insider Activity at Kenvue

In other news, Director Jeffrey C. Smith purchased 3,200,000 shares of Kenvue stock in a transaction dated Friday, December 12th. The shares were purchased at an average price of $17.37 per share, with a total value of $55,584,000.00. Following the transaction, the director owned 27,307,632 shares in the company, valued at $474,333,567.84. This represents a 13.27% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.17% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Kenvue

Several hedge funds and other institutional investors have recently made changes to their positions in KVUE. Norges Bank purchased a new position in Kenvue in the fourth quarter valued at approximately $756,862,000. Independent Franchise Partners LLP grew its position in shares of Kenvue by 233.4% in the 2nd quarter. Independent Franchise Partners LLP now owns 31,265,574 shares of the company’s stock valued at $654,388,000 after buying an additional 21,886,537 shares during the last quarter. Cibc World Markets Corp acquired a new stake in Kenvue during the 4th quarter worth $162,193,000. Van ECK Associates Corp lifted its position in Kenvue by 101.3% in the third quarter. Van ECK Associates Corp now owns 18,361,581 shares of the company’s stock valued at $298,008,000 after acquiring an additional 9,240,434 shares during the last quarter. Finally, ING Groep NV boosted its stake in Kenvue by 1,311.9% in the fourth quarter. ING Groep NV now owns 9,856,090 shares of the company’s stock valued at $170,018,000 after acquiring an additional 9,157,999 shares in the last quarter. Institutional investors and hedge funds own 97.64% of the company’s stock.

Kenvue Company Profile

Kenvue is a consumer health company that was established as a standalone, publicly traded business after separating from Johnson & Johnson. Listed on the New York Stock Exchange under the symbol KVUE, Kenvue focuses on the development, manufacture, marketing and distribution of consumer health and personal care products across a range of categories including skin and beauty care, baby care, oral care, wound care and over?the?counter medicines.

The company owns and markets a portfolio of widely recognized consumer brands, including names familiar to global shoppers across retail and pharmacy channels.