Here's How You Can Earn $100 In Passive Income By Investing In Kenvue Stock

Kenvue Inc. KVUE, the world’s largest pure-play consumer health company by sales, generating $15.5 billion in annual revenue, is set to report its Q3 2024 earnings on October 24. Wall Street analysts expect the company to post an EPS of $0.28, down from $0.31 in the year-ago period. According to data from Benzinga Pro, quarterly revenue is expected to be $3.96 billion, up from $3.92 billion in the year-ago period.

The 52-week range of Kenvue's stock price was $17.67 to $24.10.

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Kenvue’s stock dividend yield is 3.80%. It paid $0.82 in dividends during the last 12 months.

The Latest On Kenvue:

On Aug. 8, Kenvue reported its Q2 2024 earnings, posting an adjusted EPS of $0.32, beating the consensus of $0.28, and revenues of $4 billion, compared to the consensus estimate of $3.942 billion, as reported by Benzinga.

According to the company's announcement, Q2 net sales decreased 0.3% following a 5.4% increase in the prior year. Organic growth was 1.5% over 7.7% in the prior year. Organic growth comprised 2.1% value realization (price and mix) and (0.6)% volume. Value realization was driven by a combination of both carryover pricing and new price actions. The slight volume declines were driven primarily by Skin Health and Beauty and Self Care, partially offset by growth in Essential Health.

"We are on track to deliver the financial targets we set for 2024, and while we are in the early days, our work to transform Kenvue into a bolder, more agile organization focused on profitable growth is producing results," said Thibaut Mongon, Chief Executive Officer.

Following the earnings announcement, several Wall Street analysts raised their price targets on Kenvue. Check out this article by Benzinga, which decodes five analyst evaluations of the stock over the past three months.

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How Can You Earn $100 Per Month As A Kenvue Investor?

If you want to make $100 per month –$1,200 annually – from Kenvue stock dividends, your investment value needs to be approximately $31,579, which is around 1,465 shares at $21.56 each. 

Understanding the dividend yield calculations: When estimating, you need two key variables: the desired annual income ($1,200) and the dividend yield (3.80%). So, $1,200 / 0.0380 = $31,579 to generate an income of $100 per month.

You can calculate the dividend yield by dividing the annual dividend payments by the stock’s current price.

The dividend yield can change over time as a result of fluctuating stock prices and dividend payments.

For instance, assume a stock that pays $2 as an annual dividend is priced at $50. Its dividend yield would be $2/$50 = 4%. If the stock price rises to $60, the dividend yield drops to 3.33% ($2/$60). A drop in stock price to $40 will have an inverse effect and increase the dividend yield to 5% ($2/$40).

In summary, income-focused investors may find Kenvue stock an attractive option for earning a steady $100 per month by owning 1,465 shares of stock.