Kenvue (NYSE:KVUE) Price Target Raised to $25.00

Kenvue (NYSE:KVUE) had its price objective hoisted by JPMorgan Chase & Co. from $24.00 to $25.00 in a research note issued to investors on Friday morning, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

A number of other equities research analysts have also weighed in on KVUE. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Kenvue from $23.00 to $24.00 and gave the company a buy rating in a research note on Wednesday, August 7th. Royal Bank of Canada downgraded Kenvue from an outperform rating to a sector perform rating and set a $24.00 target price on the stock. in a report on Tuesday, September 24th. Jefferies Financial Group initiated coverage on Kenvue in a research note on Tuesday, September 24th. They set a buy rating and a $27.00 price target for the company. Piper Sandler increased their price objective on shares of Kenvue from $20.00 to $21.00 and gave the stock a neutral rating in a research note on Monday, September 23rd. Finally, UBS Group boosted their target price on shares of Kenvue from $20.00 to $22.00 and gave the company a neutral rating in a research report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Kenvue currently has an average rating of Hold and an average target price of $22.20.

Kenvue Trading Up 0.7 %

Kenvue stock opened at $21.46 on Friday. Kenvue has a one year low of $17.67 and a one year high of $23.55. The business’s fifty day moving average is $22.13 and its 200 day moving average is $20.19. The stock has a market capitalization of $41.09 billion, a PE ratio of 27.51, a price-to-earnings-growth ratio of 2.76 and a beta of 1.40. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.99 and a quick ratio of 0.68.

Kenvue (NYSE:KVUE) last announced its quarterly earnings results 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 the consensus estimate of $3.93 billion. During the same quarter last year, the firm posted $0.32 EPS. The business’s quarterly revenue was down .3% compared to the same quarter last year. On average, sell-side analysts predict that Kenvue will post 1.08 EPS for the current year.

Kenvue Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 28th. Shareholders of record on Wednesday, August 14th were paid a $0.205 dividend. This represents a $0.82 annualized dividend and a yield of 3.82%. This is an increase from Kenvue’s previous quarterly dividend of $0.20. The ex-dividend date was Wednesday, August 14th. Kenvue’s dividend payout ratio is presently 105.13%.

Hedge Funds Weigh In On Kenvue

Hedge funds have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD lifted its stake in Kenvue by 23.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 134,565,333 shares of the company’s stock worth $2,887,773,000 after purchasing an additional 25,238,112 shares in the last quarter. Vanguard Group Inc. grew its holdings in Kenvue by 12.0% during the 1st quarter. Vanguard Group Inc. now owns 166,789,085 shares of the company’s stock valued at $3,579,294,000 after buying an additional 17,908,497 shares in the last quarter. Van ECK Associates Corp increased its stake in Kenvue by 110.9% in the 2nd quarter. Van ECK Associates Corp now owns 20,510,427 shares of the company’s stock worth $372,880,000 after acquiring an additional 10,783,258 shares during the last quarter. Clearbridge Investments LLC raised its holdings in shares of Kenvue by 16,051.1% during the 1st quarter. Clearbridge Investments LLC now owns 9,813,597 shares of the company’s stock worth $210,600,000 after acquiring an additional 9,752,836 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of Kenvue by 21.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 43,444,085 shares of the company’s stock valued at $789,813,000 after acquiring an additional 7,546,362 shares during the last quarter. Hedge funds and other institutional investors own 97.64% of the company’s stock.

Kenvue Company Profile

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.