T. Rowe Price Associates, Inc. recently announced the acquisition of new stake in Kenvue Inc. (NYSE:KVUE). This fresh investment now brings its stake to 1.37% valued currently at $603.28 million. In addition, Massachusetts Financial Services raised its holdings by 18.64 million to 18.64 million shares.
With over 32.26 million Kenvue Inc. (KVUE) shares trading Friday and a closing price of $21.22 on the day, the dollar volume was approximately $684.6 million. Currently, there are 3.45B common shares owned by the public and among those 3.26B shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 14 analysts who have offered their price forecasts for KVUE have a consensus price objective of $28.00. The analysts have set the share’s price value over the next 12 months at a high of $30.00 and a low of $26.00. The average price target is 23.61% above its recent price level and an upside to the estimated low will see the stock gain 18.38% over that period. But an upside of 29.27% will see the stock hit the forecast high price target while median target price for the stock is $28.00.
Insiders at the company have transacted a total of 1 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 1 of these insider trades were purchases, accounting for 20,000 shares. Insider sales of the common stock occurred on 0 occasions, with total insider shares sold totaling 0 shares.
The top 3 mutual fund holders in Kenvue Inc. are Vanguard Total Stock Market ETF, Vanguard 500 Index Fund, and SPDR S&P 500 ETF Trust. Vanguard Total Stock Market ETF owns 53.68 million shares of the company’s stock, all valued at over $1.24 billion. The company bought an additional 53.68 million shares recently to bring their total holdings to about 2.80% of the shares outstanding. SPDR S&P 500 ETF Trust bought 80106.0 shares to bring its total holdings to over 18.89 million shares at a value of $435.53 million. SPDR S&P 500 ETF Trust now owns shares totaling to 0.99% of the shares outstanding.
Shares of Kenvue Inc. (NYSE: KVUE) opened at $21.72, down -$0.02 from a prior closing price of $21.74. However, the script later moved the day high at 21.87, down -2.39%. The company’s stock has a 5-day price change of -0.38% and -17.59% over the past three months. It has a 12-month low price of $20.38 and touched a high of $27.80 over the same period. KVUE has an average intraday trading volume of 36.41 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -5.94%, -10.01%, and -14.12% respectively.
Institutional ownership of Kenvue Inc. (NYSE: KVUE) shares accounts for 4.82% of the company’s 3.45B shares outstanding. Mutual fund holders own 19.60%, while other institutional holders and individual stakeholders account for 9.52% and -8.02% respectively.
It has a market capitalization of $74.98B. The stock’s trailing 12-month PE ratio is 37.23, while the earnings-per-share (ttm) stands at $0.57. The company has a PEG of 25.15 and a Quick Ratio of 0.80 with the debt-to-equity ratio at 0.76. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.32% over the week and 3.09% over the month.
Analysts forecast that Kenvue Inc. (KVUE) will achieve an EPS of $0.32 for the current quarter, $0.3 for the next quarter and $1.3 for 2024. The lowest estimate earnings-per-share for the quarter is $0.31 while analysts give the company a high EPS estimate of $0.33. Earnings per share for the fiscal year are expected to increase by 2.80%, and 0.62% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 14 brokerage firm advisors rate Kenvue Inc. (KVUE) as a “Moderate Buy” at a consensus score of 2.30. Specifically, 6 Wall Street analysts polled rate the stock as a buy, while 7 of the 14 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the KVUE, a number of firms have released research notes about the stock. Deutsche Bank stated their Buy rating for the stock in a research note on September 11, 2023, with the firm’s price target at $27.
