Kenvue (NYSE:KVUE) Stock Rating Upgraded by Piper Sandler

Piper Sandler upgraded shares of Kenvue (NYSE:KVUE) from a neutral rating to an overweight rating in a research report released on Monday morning, Marketbeat reports. The firm currently has $26.00 target price on the stock, up from their previous target price of $21.00.

Other analysts also recently issued reports about the company. Royal Bank of Canada raised Kenvue from a “hold” rating to a “moderate buy” rating in a research report on Monday, December 9th. Bank of America lifted their price objective on Kenvue from $24.00 to $27.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Jefferies Financial Group began coverage on shares of Kenvue in a report on Tuesday, September 24th. They set a “buy” rating and a $27.00 price objective on the stock. JPMorgan Chase & Co. lifted their target price on shares of Kenvue from $24.00 to $25.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. Finally, Barclays upgraded shares of Kenvue to a “hold” rating in a research note on Thursday, December 12th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $23.09.

Kenvue Trading Up 0.1 %

Shares of Kenvue stock opened at $21.07 on Monday. The stock has a fifty day moving average price of $22.73 and a 200-day moving average price of $21.56. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.00 and a quick ratio of 0.69. The firm has a market cap of $40.40 billion, a PE ratio of 38.31, a P/E/G ratio of 2.02 and a beta of 1.46. Kenvue has a 1 year low of $17.67 and a 1 year high of $24.46.

Kenvue (NYSE:KVUE) last released its earnings results on Thursday, November 7th. The company reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.01. Kenvue had a net margin of 6.88% and a return on equity of 21.43%. The firm had revenue of $3.90 billion for the quarter, compared to analysts’ expectations of $3.92 billion. During the same period in the previous year, the company earned $0.31 earnings per share. The company’s quarterly revenue was down .4% on a year-over-year basis. Equities research analysts anticipate that Kenvue will post 1.07 EPS for the current year.

Kenvue Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th were given a $0.205 dividend. The ex-dividend date was Wednesday, November 13th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 3.89%. Kenvue’s dividend payout ratio (DPR) is presently 149.09%.

Hedge Funds Weigh In On Kenvue

Several hedge funds and other institutional investors have recently added to or reduced their stakes in KVUE. Huntington National Bank boosted its position in shares of Kenvue by 26.5% during the 3rd quarter. Huntington National Bank now owns 4,161 shares of the company’s stock valued at $96,000 after acquiring an additional 871 shares during the last quarter. ING Groep NV raised its stake in Kenvue by 23.6% in the third quarter. ING Groep NV now owns 3,576,616 shares of the company’s stock valued at $82,727,000 after purchasing an additional 681,954 shares in the last quarter. Kennon Green & Company LLC lifted its position in Kenvue by 140.7% during the second quarter. Kennon Green & Company LLC now owns 159,106 shares of the company’s stock valued at $2,893,000 after purchasing an additional 93,008 shares during the last quarter. Saturna Capital Corp grew its stake in Kenvue by 29.9% in the 3rd quarter. Saturna Capital Corp now owns 1,334,860 shares of the company’s stock worth $30,875,000 after buying an additional 307,039 shares in the last quarter. Finally, Everence Capital Management Inc. increased its holdings in shares of Kenvue by 122.1% in the 4th quarter. Everence Capital Management Inc. now owns 45,380 shares of the company’s stock worth $969,000 after buying an additional 24,950 shares during the last quarter. 97.64% of the stock is currently 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.