Citigroup Cuts Kenvue (NYSE:KVUE) Price Target to $21.00

Kenvue (NYSE:KVUE) had its target price decreased by Citigroup from $25.00 to $21.00 in a research note released on Wednesday,Benzinga reports. Citigroup currently has a neutral rating on the stock.

Several other research analysts have also recently issued reports on KVUE. Royal Bank of Canada raised shares of Kenvue from a “hold” rating to a “moderate buy” rating in a report on Monday, December 9th. Piper Sandler raised Kenvue from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $21.00 to $26.00 in a report on Monday, January 6th. Jefferies Financial Group assumed coverage on shares of Kenvue in a research report on Tuesday, September 24th. They set a “buy” rating and a $27.00 target price on the stock. Deutsche Bank Aktiengesellschaft cut shares of Kenvue from a “buy” rating to a “hold” rating and reduced their price objective for the company from $25.00 to $24.00 in a research note on Thursday, December 12th. Finally, Barclays raised shares of Kenvue to a “hold” rating in a report on Thursday, December 12th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $23.08.

Kenvue Trading Down 0.4 %

NYSE KVUE opened at $21.11 on Wednesday. The firm’s fifty day moving average is $22.42 and its two-hundred day moving average is $21.66. Kenvue has a one year low of $17.67 and a one year high of $24.46. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.69 and a current ratio of 1.00. The firm has a market cap of $40.46 billion, a PE ratio of 38.37, a P/E/G ratio of 1.99 and a beta of 1.46.

Kenvue (NYSE:KVUE) last posted its quarterly earnings data on Thursday, November 7th. The company reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.01. Kenvue had a return on equity of 21.43% and a net margin of 6.88%. The company had revenue of $3.90 billion during the quarter, compared to analysts’ expectations of $3.92 billion. During the same period last year, the firm earned $0.31 EPS. The firm’s revenue for the quarter was down .4% on a year-over-year basis. Analysts expect that Kenvue will post 1.14 earnings per share for the current year.

Kenvue Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th will be issued a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a dividend yield of 3.89%. The ex-dividend date is Wednesday, February 12th. Kenvue’s dividend payout ratio (DPR) is 149.09%.

Hedge Funds Weigh In On Kenvue

Several large investors have recently added to or reduced their stakes in KVUE. FMR LLC lifted its holdings in shares of Kenvue by 2.3% during the 3rd quarter. FMR LLC now owns 137,915,493 shares of the company’s stock worth $3,189,985,000 after acquiring an additional 3,075,019 shares during the period. State Street Corp grew its stake in shares of Kenvue by 16.8% during the 3rd quarter. State Street Corp now owns 127,213,940 shares of the company’s stock valued at $2,942,458,000 after buying an additional 18,283,473 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in shares of Kenvue by 8.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 86,979,341 shares of the company’s stock worth $2,011,832,000 after buying an additional 7,115,374 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Kenvue by 0.9% in the third quarter. Geode Capital Management LLC now owns 44,677,077 shares of the company’s stock valued at $1,029,810,000 after acquiring an additional 399,846 shares during the last quarter. Finally, Harris Associates L P increased its stake in Kenvue by 7.5% during the third quarter. Harris Associates L P now owns 31,459,511 shares of the company’s stock worth $727,658,000 after acquiring an additional 2,186,114 shares during the last quarter. 97.64% of the stock is currently owned by hedge funds and other institutional investors.

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.