Kenvue Inc. (NYSE:KVUE) Short Interest Down 12.9% in March

Kenvue Inc. (NYSE:KVUE) was the target of a significant drop in short interest in March. As of March 13th, there was short interest totaling 58,159,600 shares, a drop of 12.9% from the February 26th total of 66,801,459 shares. Currently, 3.0% of the shares of the stock are sold short. Based on an average daily volume of 29,600,865 shares, the days-to-cover ratio is currently 2.0 days.

Institutional Investors Weigh In On Kenvue

Several institutional investors and hedge funds have recently bought and sold shares of the business. Elyxium Wealth LLC purchased a new stake in Kenvue in the fourth quarter worth $26,000. Physician Wealth Advisors Inc. lifted its position in Kenvue by 67.5% during the fourth quarter. Physician Wealth Advisors Inc. now owns 1,533 shares of the company’s stock valued at $26,000 after buying an additional 618 shares during the period. Cornerstone Planning Group LLC boosted its holdings in shares of Kenvue by 705.2% during the 3rd quarter. Cornerstone Planning Group LLC now owns 1,554 shares of the company’s stock valued at $25,000 after buying an additional 1,361 shares in the last quarter. NBT Bank N A NY boosted its holdings in shares of Kenvue by 180.3% during the 3rd quarter. NBT Bank N A NY now owns 1,564 shares of the company’s stock valued at $25,000 after buying an additional 1,006 shares in the last quarter. Finally, Salomon & Ludwin LLC purchased a new stake in shares of Kenvue in the 3rd quarter worth about $25,000. Hedge funds and other institutional investors own 97.64% of the company’s stock.

Kenvue Trading Down 0.0%

Shares of KVUE opened at $17.24 on Wednesday. The stock has a market capitalization of $33.04 billion, a P/E ratio of 22.39, a PEG ratio of 3.91 and a beta of 0.51. Kenvue has a twelve month low of $14.02 and a twelve month high of $25.17. The company has a quick ratio of 0.68, a current ratio of 0.96 and a debt-to-equity ratio of 0.66. The firm has a fifty day simple moving average of $18.01 and a two-hundred day simple moving average of $17.09.

Kenvue (NYSE:KVUE) last released its quarterly earnings data on Tuesday, February 17th. The company reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.05. The firm had revenue of $3.78 billion for the quarter, compared to analysts’ expectations of $3.68 billion. Kenvue had a net margin of 9.72% and a return on equity of 19.72%. The company’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.26 earnings per share. On average, research analysts anticipate that Kenvue will post 1.14 EPS for the current year.

Kenvue Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 25th. Shareholders of record on Wednesday, February 11th were given a dividend of $0.2075 per share. The ex-dividend date of this dividend was Wednesday, February 11th. This represents a $0.83 dividend on an annualized basis and a yield of 4.8%. Kenvue’s dividend payout ratio is presently 107.79%.

Wall Street Analyst Weigh In

KVUE has been the subject of a number of research reports. Canaccord Genuity Group boosted their price target on shares of Kenvue from $17.00 to $18.00 and gave the stock a “hold” rating in a research note on Wednesday, February 18th. UBS Group lifted their price objective on shares of Kenvue from $17.00 to $19.00 and gave the stock a “neutral” rating in a report on Wednesday, February 18th. Barclays upped their target price on shares of Kenvue from $18.00 to $19.00 and gave the stock an “equal weight” rating in a research report on Friday, March 6th. Jefferies Financial Group cut Kenvue from a “buy” rating to a “hold” rating and reduced their target price for the company from $23.00 to $18.00 in a research note on Friday, January 30th. Finally, Citigroup raised their price target on Kenvue from $18.00 to $20.00 and gave the company a “neutral” rating in a research report on Wednesday, February 18th. Three equities research analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $19.58.

About Kenvue

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.