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 report published on Tuesday, MarketBeat reports. The firm issued a buy rating and a $27.00 price target on the stock.

A number of other analysts also recently issued reports on KVUE. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Kenvue from $23.00 to $24.00 and gave the company a buy rating in a report on Wednesday, August 7th. UBS Group lifted 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. Royal Bank of Canada cut shares of Kenvue from an outperform rating to a sector perform rating and set a $24.00 price objective for the company. in a research note on Tuesday. Piper Sandler lifted 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, JPMorgan Chase & Co. lifted 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. One analyst has rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of Hold and a consensus target price of $22.10.

Kenvue Stock Performance

Shares of NYSE KVUE opened at $23.27 on Tuesday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.68 and a current ratio of 0.99. The company has a market cap of $44.55 billion, a P/E ratio of 29.83, a P/E/G ratio of 2.92 and a beta of 1.40. The firm’s fifty day moving average is $21.31 and its two-hundred day moving average is $20.05. Kenvue has a 52-week low of $17.67 and a 52-week high of $23.55.

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. The company had revenue of $4 billion for the quarter, compared to the consensus estimate of $3.93 billion. Kenvue had a net margin of 7.23% and a return on equity of 21.80%. Kenvue’s revenue for the quarter was down .3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.32 EPS. As a group, analysts anticipate that Kenvue will post 1.08 EPS for the current fiscal year.

Kenvue Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 28th. Investors of record on Wednesday, August 14th were paid a dividend of $0.205 per share. The ex-dividend date was Wednesday, August 14th. 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 dividend yield of 3.52%. Kenvue’s payout ratio is currently 105.13%.

Hedge Funds Weigh In On Kenvue

Large investors have recently made changes to their positions in the company. Stephens Inc. AR boosted its stake in shares of Kenvue by 86.1% during the 4th quarter. Stephens Inc. AR now owns 57,694 shares of the company’s stock worth $1,242,000 after purchasing an additional 26,700 shares during the period. Stifel Financial Corp lifted its holdings in 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 buying an additional 280,591 shares in the last quarter. Raleigh Capital Management Inc. lifted its holdings in 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 buying an additional 43,164 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in 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 buying an additional 40,995 shares in the last quarter. Finally, Cornerstone Wealth Group LLC lifted its holdings in 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 buying an additional 223,537 shares in the last quarter. 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.