Kenvue (NYSE:KVUE) Receives New Coverage from Analysts at Jefferies Financial Group

Jefferies Financial Group initiated coverage on shares of Kenvue (NYSE:KVUE) in a research note published on Tuesday morning, Marketbeat reports. The firm issued a buy rating and a $27.00 target price on the stock.

Several other equities analysts have also recently issued reports on KVUE. Citigroup reduced their price target on shares of Kenvue from $21.00 to $20.00 and set a neutral rating on the stock in a research report on Wednesday, July 10th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Kenvue from $23.00 to $24.00 and gave the company a buy rating in a research report on Wednesday, August 7th. Royal Bank of Canada cut shares of Kenvue from an outperform rating to a sector perform rating and set a $24.00 price target on the stock. in a research report on Tuesday. JPMorgan Chase & Co. boosted their price objective on shares of Kenvue from $22.00 to $24.00 and gave the stock an overweight rating in a research note on Wednesday, August 7th. Finally, UBS Group boosted their price objective on shares of Kenvue from $20.00 to $22.00 and gave the stock a neutral rating in a research note on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of Hold and an average price target of $22.10.

Kenvue Price Performance

KVUE stock opened at $23.27 on Tuesday. The firm’s 50-day moving average price is $21.31 and its two-hundred day moving average price is $20.05. Kenvue has a 12-month low of $17.67 and a 12-month high of $23.55. The stock has a market capitalization of $44.55 billion, a price-to-earnings ratio of 29.83, a PEG ratio of 2.92 and a beta of 1.40. The company has a current ratio of 0.99, a quick ratio of 0.68 and a debt-to-equity ratio of 0.69.

Kenvue (NYSE:KVUE) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.04. Kenvue had a net margin of 7.23% and a return on equity of 21.80%. The firm had revenue of $4 billion for the quarter, compared to analysts’ expectations of $3.93 billion. During the same quarter in the previous year, the company earned $0.32 earnings per share. The company’s revenue for the quarter was down .3% compared to the same quarter last year. As a group, equities analysts predict that Kenvue will post 1.08 earnings per share for the current year.

Kenvue Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 28th. Shareholders of record on Wednesday, August 14th were issued a dividend of $0.205 per share. This is a boost from Kenvue’s previous quarterly dividend of $0.20. This represents a $0.82 dividend on an annualized basis and a yield of 3.52%. The ex-dividend date was Wednesday, August 14th. Kenvue’s dividend payout ratio is currently 105.13%.

Institutional Trading of Kenvue

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Stephens Inc. AR raised its position in shares of Kenvue by 86.1% during the 4th quarter. Stephens Inc. AR now owns 57,694 shares of the company’s stock valued at $1,242,000 after purchasing an additional 26,700 shares during the period. Stifel Financial Corp raised its position in shares of Kenvue by 60.4% during the 4th quarter. Stifel Financial Corp now owns 745,064 shares of the company’s stock valued at $16,041,000 after purchasing an additional 280,591 shares during the period. Raleigh Capital Management Inc. raised its position in shares of Kenvue by 93,834.8% during the 4th quarter. Raleigh Capital Management Inc. now owns 43,210 shares of the company’s stock valued at $930,000 after purchasing an additional 43,164 shares during the period. The Manufacturers Life Insurance Company raised its position in shares of Kenvue by 2.6% during the 4th quarter. The Manufacturers Life Insurance Company now owns 1,598,567 shares of the company’s stock valued at $34,417,000 after purchasing an additional 40,995 shares during the period. Finally, Cornerstone Wealth Group LLC raised its position in shares of Kenvue by 176.2% during the 1st quarter. Cornerstone Wealth Group LLC now owns 350,371 shares of the company’s stock valued at $7,519,000 after purchasing an additional 223,537 shares during the period. 97.64% of the stock is owned by hedge funds and other institutional investors.

About Kenvue

Kenvue Inc operates as a consumer health company worldwide. The company operates through three segments: Self Care, Skin Health and Beauty, and Essential Health. The Self Care segment offers cough, cold and allergy, pain care, digestive health, smoking cessation, eye care, and other products under the Tylenol, Motrin, Benadryl, Nicorette, Zarbee's, ORSLTM, Rhinocort, Calpol, and Zyrtec brands.