Kenvue (NYSE:KVUE) PT Raised to $24.00

Kenvue (NYSE:KVUE) had its price objective upped by JPMorgan Chase & Co. from $22.00 to $24.00 in a research note released on Wednesday, Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other equities research analysts also recently weighed in on KVUE. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Kenvue from $24.00 to $23.00 and set a buy rating for the company in a research note on Thursday, July 25th. UBS Group upped 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. HSBC raised their price target on Kenvue from $20.00 to $21.00 and gave the stock a hold rating in a research report on Wednesday, May 8th. Sanford C. Bernstein assumed coverage on Kenvue in a report on Thursday, April 11th. They issued an underperform rating and a $18.00 price objective for the company. Finally, Citigroup reduced their target price on Kenvue from $21.00 to $20.00 and set a neutral rating on the stock in a report on Wednesday, July 10th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Kenvue has an average rating of Hold and an average target price of $22.64.

Kenvue Trading Down 1.1 %

NYSE:KVUE traded down $0.23 during trading hours on Wednesday, hitting $21.02. 20,636,934 shares of the stock were exchanged, compared to its average volume of 19,304,982. The company’s 50 day moving average is $18.61 and its two-hundred day moving average is $19.44. The company has a market capitalization of $40.25 billion, a P/E ratio of 26.95, a price-to-earnings-growth ratio of 2.07 and a beta of 1.38. Kenvue has a twelve month low of $17.67 and a twelve month high of $24.10. The company has a quick ratio of 0.68, a current ratio of 0.99 and a debt-to-equity ratio of 0.66.

Kenvue (NYSE:KVUE) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.04. The business had revenue of $4 billion for the quarter, compared to analysts’ expectations of $3.93 billion. Kenvue had a return on equity of 21.06% and a net margin of 9.63%. The firm’s quarterly revenue was down .3% compared to the same quarter last year. During the same quarter last year, the business earned $0.32 earnings per share. On average, sell-side analysts anticipate that Kenvue will post 1.13 earnings per share for the current fiscal year.

Kenvue Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 28th. Shareholders of record on Wednesday, August 14th will be paid a $0.205 dividend. This is a boost from Kenvue’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Wednesday, August 14th. This represents a $0.82 annualized dividend and a yield of 3.90%. Kenvue’s payout ratio is presently 105.13%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Manchester Capital Management LLC increased its position in shares of Kenvue by 80.8% in the first quarter. Manchester Capital Management LLC now owns 1,186 shares of the company’s stock valued at $25,000 after acquiring an additional 530 shares during the last quarter. Pacific Capital Wealth Advisors Inc. acquired a new stake in shares of Kenvue in the 4th quarter valued at approximately $28,000. Mather Group LLC. acquired a new position in Kenvue during the first quarter worth $28,000. Oakworth Capital Inc. bought a new stake in Kenvue during the first quarter worth $31,000. Finally, Riverview Trust Co bought a new position in shares of Kenvue in the 1st quarter valued at about $33,000. 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.