Kenvue (NYSE:KVUE) Price Target Raised to $23.00

Kenvue (NYSE:KVUE) had its price objective upped by Barclays from $21.00 to $23.00 in a research report sent to investors on Thursday,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

Several other analysts also recently weighed in on KVUE. Royal Bank of Canada reissued a “sector perform” rating and issued a $24.00 price target on shares of Kenvue in a research note on Monday, February 3rd. Piper Sandler boosted their target price on Kenvue from $24.00 to $27.00 and gave the company an “overweight” rating in a research note on Monday, February 24th. UBS Group reduced their price target on Kenvue from $23.00 to $21.00 and set a “neutral” rating on the stock in a research report on Friday, February 7th. Canaccord Genuity Group boosted their price objective on Kenvue from $24.00 to $29.00 and gave the company a “buy” rating in a research report on Wednesday, March 5th. Finally, Citigroup cut their target price on shares of Kenvue from $25.00 to $21.00 and set a “neutral” rating on the stock in a report on Wednesday, January 15th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Kenvue has an average rating of “Hold” and an average target price of $24.00.

Kenvue Price Performance

Shares of Kenvue stock opened at $23.74 on Thursday. The firm has a market capitalization of $45.36 billion, a PE ratio of 44.78, a price-to-earnings-growth ratio of 2.62 and a beta of 1.25. 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 12 month low of $17.67 and a 12 month high of $24.46. The business’s 50-day moving average price is $22.32 and its 200-day moving average price is $22.45.

Kenvue (NYSE:KVUE) last issued its quarterly earnings results on Thursday, February 6th. The company reported $0.26 EPS for the quarter, meeting analysts’ consensus estimates of $0.26. Kenvue had a net margin of 6.66% and a return on equity of 20.97%. Sell-side analysts forecast that Kenvue will post 1.14 EPS for the current fiscal year.

Kenvue Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th were paid a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a yield of 3.45%. The ex-dividend date of this dividend was Wednesday, February 12th. Kenvue’s payout ratio is currently 154.72%.

Institutional Trading of Kenvue

Several large investors have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD boosted its position in shares of Kenvue by 3.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 245,885,918 shares of the company’s stock valued at $5,249,665,000 after purchasing an additional 8,211,748 shares in the last quarter. Vanguard Group Inc. lifted its position in Kenvue by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 218,543,705 shares of the company’s stock valued at $4,665,908,000 after buying an additional 1,636,741 shares during the period. State Street Corp boosted its holdings 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 in the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of Kenvue by 12.3% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 97,661,344 shares of the company’s stock worth $2,085,070,000 after buying an additional 10,682,003 shares during the period. Finally, Geode Capital Management LLC grew its position in shares of Kenvue by 3.1% in the 4th quarter. Geode Capital Management LLC now owns 46,068,931 shares of the company’s stock worth $980,989,000 after buying an additional 1,391,854 shares during the period. 97.64% of the stock is owned by 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.