It’s Easy To Bet On Kenvue Inc (NYSE: KVUE) For Economic Progress Over The Impending Months

In the last trading session, 10.46 million shares of the Kenvue Inc (NYSE:KVUE) were traded. Most recently the company’s share price was $21.23, and it changed around -$0.23 or -1.07% from the last close, which brings the market valuation of the company to $40.65B. KVUE currently trades at a discount to its 52-week high of $27.80, offering almost -30.95% off that amount. The share price’s 52-week low was $17.82, which indicates that the current value has risen by an impressive 16.06% since then. We note from Kenvue Inc’s average daily trading volume that its 10-day average is 20.17 million shares, with the 3-month average coming to 17.37 million.

Kenvue Inc (NYSE:KVUE) trade information

Instantly KVUE has showed a red trend with a performance of -1.07% at the end of last trading. The performance over the last five days has remained in the green territory. The company’s shares are currently down -1.39% year-to-date, but still up 3.06% over the last five days. On the other hand, Kenvue Inc (NYSE:KVUE) is 11.74% up in the 30-day period. We can see from the shorts that 27.45 million shares have been sold at a short interest cover period of 1.45 day(s).

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The consensus price target as assigned by Wall Street analysts is $29, which translates to bulls needing to increase their stock price by 26.79% from its current value. Analyst projections state that KVUE is forecast to be at a low of $29 and a high of $29.

Kenvue Inc (KVUE) estimates and forecasts

Kenvue Inc share prices are performing particularly well not compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 5.57 percent over the past six months and at a -9.30% annual growth rate that is well below the industry average of 6.40%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will loss -29.70% in revenue this quarter, and will report a decrease of -6.30% in the next quarter. The year-over-year growth rate is expected to be 1.40%, up from the previous year.

Consensus estimates provided by 9 financial analysts predict the company will bring in an average of $3.8 billion in revenue for the current quarter. 9 analysts expect Kenvue Inc to make $4.01 billion in revenue for the quarter ending Jun 2024. The company’s sales for the same quarters a year ago were $3.85 billion and $3.96 billion respectively. Analysts predict that the company’s current quarter sales will drop, forecast at -1.40%. Forecasts for the next quarter put sales growth at 1.30%.

Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 3.41%. Kenvue Inc earnings are expected to increase by -10.36% in 2024, but the outlook is positive 1.79% per year for the next five years.

KVUE Dividends

Kenvue Inc’s next quarterly earnings report is expected to be released in May. The annual dividend yield of the stock is 2.83 percent and its annual dividend per share was 0.60. It is important to note, however, that the 2.83% dividend yield ratio should be regarded as a guide only, as many other factors should be taken into consideration before making any investment decision.

Kenvue Inc (NYSE:KVUE)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 0.02% of Kenvue Inc shares, and 98.82% of them are in the hands of institutional investors. The stock currently has a share float of 98.84%. Kenvue Inc stock is held by 1,245 institutions, with Price (T.Rowe) Associates Inc being the largest institutional investor. By Jun 29, 2023, it held 1.37% of the shares, which is about 26.32 million shares worth $695.31 million.

Massachusetts Financial Services Co., with 0.97% or 18.64 million shares worth $492.51 million as of Jun 29, 2023, holds the second largest percentage of outstanding shares.

SPDR S&P 500 ETF Trust and iShares Core S&P 500 ETF were the top two Mutual Funds as of Aug 30, 2023. The former held 18.94 million shares worth $436.48 million, making up 0.99% of all outstanding shares. On the other hand, iShares Core S&P 500 ETF held roughly 16.12 million shares worth around $371.55 million, which represents about 0.84% of the total shares outstanding.