Kenvue (NYSE:KVUE) Posts Earnings Results, Misses Expectations By $0.01 EPS

Kenvue (NYSE:KVUE) announced its earnings results on Thursday. The company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.01), FiscalAI reports. Kenvue had a return on equity of 20.81% and a net margin of 10.61%.The business had revenue of $3.96 billion for the quarter, compared to analysts’ expectations of $3.97 billion. During the same quarter last year, the firm earned $0.29 earnings per share. The firm’s quarterly revenue was up 3.0% compared to the same quarter last year.

Kenvue Price Performance

NYSE KVUE traded down $0.59 during trading hours on Thursday, reaching $19.08. The company’s stock had a trading volume of 25,099,333 shares, compared to its average volume of 20,800,660. Kenvue has a 1-year low of $14.02 and a 1-year high of $21.96. The firm has a market capitalization of $36.63 billion, a price-to-earnings ratio of 22.45, a P/E/G ratio of 1.49 and a beta of 0.47. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.98 and a quick ratio of 0.70. The company’s 50-day moving average is $18.73 and its two-hundred day moving average is $18.08.

Kenvue Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Investors of record on Wednesday, August 12th will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date of this dividend is Wednesday, August 12th. This is a positive change from Kenvue’s previous quarterly dividend of $0.21. Kenvue’s payout ratio is currently 97.65%.

Wall Street Analyst Weigh In

KVUE has been the topic of several recent analyst reports. Wall Street Zen upgraded shares of Kenvue to a “buy” rating in a report on Sunday, July 12th. UBS Group raised their price objective on Kenvue from $18.00 to $20.00 and gave the stock a “neutral” rating in a research note on Thursday, July 16th. Citigroup decreased their target price on Kenvue from $20.00 to $19.00 and set a “neutral” rating for the company in a report on Wednesday, April 15th. Zacks Research lowered Kenvue from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 7th. Finally, Weiss Ratings upgraded shares of Kenvue from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, June 15th. Three research analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $19.58.

Insider Activity at Kenvue

In related news, General Counsel Matthew Orlando sold 38,491 shares of the company’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $17.66, for a total transaction of $679,751.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.59% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Kenvue

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. DV Equities LLC purchased a new stake in shares of Kenvue during the 4th quarter valued at approximately $46,000. Quarry LP purchased a new position in Kenvue in the fourth quarter worth approximately $76,000. Arax Advisory Partners grew its position in Kenvue by 219.7% in the fourth quarter. Arax Advisory Partners now owns 4,463 shares of the company’s stock worth $77,000 after acquiring an additional 3,067 shares during the period. Johnson Financial Group Inc. increased its stake in Kenvue by 277.8% during the third quarter. Johnson Financial Group Inc. now owns 5,062 shares of the company’s stock worth $82,000 after acquiring an additional 3,722 shares during the last quarter. Finally, Triumph Capital Management acquired a new stake in Kenvue during the third quarter worth $104,000. Institutional investors and hedge funds own 97.64% of the company’s stock.

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.