Analysts Set Kenvue Inc. (NYSE:KVUE) Price Target at $22.64

Kenvue Inc. (NYSE:KVUE) has been assigned a consensus rating of “Hold” from the twelve brokerages that are presently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $22.64.

Several equities research analysts have recently weighed in on the stock. Piper Sandler increased their target price 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. Barclays raised Kenvue to a “hold” rating in a research note on Thursday, December 12th. Bank of America lifted their target price on Kenvue from $24.00 to $27.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Royal Bank of Canada upgraded Kenvue from a “hold” rating to a “moderate buy” rating in a research note on Monday, December 9th. Finally, 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 objective on the stock.

Kenvue Trading Down 0.9 %

KVUE opened at $21.53 on Wednesday. The company has a quick ratio of 0.69, a current ratio of 1.00 and a debt-to-equity ratio of 0.66. Kenvue has a 52 week low of $17.67 and a 52 week high of $24.46. The business’s 50 day moving average is $22.96 and its two-hundred day moving average is $21.38. The firm has a market cap of $41.28 billion, a price-to-earnings ratio of 39.15, a price-to-earnings-growth ratio of 2.02 and a beta of 1.36.

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

Kenvue Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th were issued a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a yield of 3.81%. The ex-dividend date was Wednesday, November 13th. Kenvue’s dividend payout ratio (DPR) is currently 149.09%.

Hedge Funds Weigh In On Kenvue

Institutional investors and hedge funds have recently made changes to their positions in the stock. Riverview Trust Co acquired a new stake in Kenvue in the third quarter valued at $30,000. Ashton Thomas Securities LLC acquired a new stake in Kenvue in the 3rd quarter valued at about $35,000. Studio Investment Management LLC increased its holdings in Kenvue by 52.1% during the 2nd quarter. Studio Investment Management LLC now owns 2,468 shares of the company’s stock valued at $45,000 after acquiring an additional 845 shares in the last quarter. Deseret Mutual Benefit Administrators raised its position in Kenvue by 49.7% during the third quarter. Deseret Mutual Benefit Administrators now owns 1,960 shares of the company’s stock worth $45,000 after acquiring an additional 651 shares during the last quarter. Finally, Brooklyn Investment Group purchased a new stake in shares of Kenvue in the third quarter valued at about $71,000. 97.64% of the stock is owned by institutional investors and hedge funds.

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.