Barclays Upgrades Kenvue (NYSE:KVUE) to “Hold”

Barclays upgraded shares of Kenvue (NYSE:KVUE) to a hold rating in a research report released on Thursday,Zacks.com reports.

Several other brokerages have also recently weighed in on KVUE. Deutsche Bank Aktiengesellschaft cut shares of Kenvue from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $25.00 to $24.00 in a research note on Thursday. Jefferies Financial Group assumed coverage on shares of Kenvue in a research report on Tuesday, September 24th. They issued a “buy” rating and a $27.00 price target on the stock. Bank of America boosted their price objective on shares of Kenvue from $24.00 to $27.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. JPMorgan Chase & Co. upped their price objective on Kenvue from $24.00 to $25.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. Finally, Piper Sandler lifted their target price on Kenvue from $20.00 to $21.00 and gave the company a “neutral” rating in a research report on Monday, September 23rd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $22.64.

Kenvue Price Performance

Shares of KVUE opened at $22.21 on Thursday. The firm has a fifty day simple moving average of $22.95 and a two-hundred day simple moving average of $21.20. The firm has a market cap of $42.58 billion, a PE ratio of 40.38, a P/E/G ratio of 2.02 and a beta of 1.36. The company has a current ratio of 1.00, a quick ratio of 0.69 and a debt-to-equity ratio of 0.66. Kenvue has a 1-year low of $17.67 and a 1-year high of $24.46.

Kenvue (NYSE:KVUE) last posted its quarterly earnings data on Thursday, November 7th. The company reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.01. The company had revenue of $3.90 billion during the quarter, compared to analysts’ expectations of $3.92 billion. Kenvue had a return on equity of 21.43% and a net margin of 6.88%. Kenvue’s revenue for the quarter was down .4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.31 earnings per share. On average, equities analysts anticipate that Kenvue will post 1.07 EPS for the current year.

Kenvue Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th were paid a $0.205 dividend. The ex-dividend date of this dividend was Wednesday, November 13th. This represents a $0.82 dividend on an annualized basis and a yield of 3.69%. Kenvue’s payout ratio is presently 149.09%.

Institutional Trading of Kenvue

Several institutional investors have recently made changes to their positions in the business. Huntington National Bank lifted its holdings in Kenvue by 26.5% in the 3rd quarter. Huntington National Bank now owns 4,161 shares of the company’s stock worth $96,000 after purchasing an additional 871 shares in the last quarter. ING Groep NV raised its position in shares of Kenvue by 23.6% during the third quarter. ING Groep NV now owns 3,576,616 shares of the company’s stock valued at $82,727,000 after buying an additional 681,954 shares during the last quarter. Kennon Green & Company LLC lifted its holdings in shares of Kenvue by 140.7% in the second quarter. Kennon Green & Company LLC now owns 159,106 shares of the company’s stock worth $2,893,000 after buying an additional 93,008 shares in the last quarter. Crestwood Advisors Group LLC boosted its position in shares of Kenvue by 14.8% during the second quarter. Crestwood Advisors Group LLC now owns 1,537,348 shares of the company’s stock worth $27,950,000 after acquiring an additional 198,607 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its stake in Kenvue by 34.9% during the second quarter. Assenagon Asset Management S.A. now owns 347,625 shares of the company’s stock valued at $6,320,000 after acquiring an additional 89,896 shares in 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.