Kenvue (NYSE:KVUE) Stock Price Expected to Rise, Canaccord Genuity Group Analyst Says

Kenvue (NYSE:KVUE) had its target price boosted by Canaccord Genuity Group from $24.00 to $29.00 in a report released on Wednesday,Benzinga reports. Canaccord Genuity Group currently has a buy rating on the stock.

A number of other equities analysts have also recently weighed in on the stock. Citigroup lowered their price objective on shares of Kenvue from $25.00 to $21.00 and set a “neutral” rating for the company in a research report on Wednesday, January 15th. UBS Group reduced their target price on shares of Kenvue from $23.00 to $21.00 and set a “neutral” rating on the stock in a report on Friday, February 7th. Piper Sandler increased their target price on shares of Kenvue from $24.00 to $27.00 and gave the stock an “overweight” rating in a report on Monday, February 24th. Barclays reduced their target price on shares of Kenvue from $23.00 to $21.00 and set an “equal weight” rating on the stock in a report on Friday, January 17th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $24.00 target price on shares of Kenvue in a report on Monday, February 3rd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Kenvue has an average rating of “Hold” and a consensus price target of $23.75.

Kenvue Stock Performance

NYSE:KVUE opened at $23.46 on Wednesday. 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 stock has a market capitalization of $44.83 billion, a P/E ratio of 44.25, a PEG ratio of 2.62 and a beta of 1.45. The company has a 50 day moving average price of $21.64 and a 200 day moving average price of $22.32. Kenvue has a fifty-two week low of $17.67 and a fifty-two week high of $24.46.

Kenvue (NYSE:KVUE) last posted its quarterly earnings data on Thursday, February 6th. The company reported $0.26 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.26. Kenvue had a net margin of 6.66% and a return on equity of 20.97%. Equities research analysts forecast that Kenvue will post 1.14 EPS for the current year.

Kenvue Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th were issued a $0.205 dividend. The ex-dividend date of this dividend was Wednesday, February 12th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 3.50%. Kenvue’s payout ratio is currently 154.72%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Kenvue in the 4th quarter valued at about $26,982,000. Brooklyn FI LLC purchased a new position in shares of Kenvue in the 4th quarter valued at about $948,000. Azzad Asset Management Inc. ADV increased its holdings in shares of Kenvue by 3.0% in the 4th quarter. Azzad Asset Management Inc. ADV now owns 291,915 shares of the company’s stock valued at $6,232,000 after acquiring an additional 8,532 shares during the last quarter. Heck Capital Advisors LLC purchased a new position in shares of Kenvue in the 4th quarter valued at about $316,000. Finally, B. Riley Wealth Advisors Inc. grew its stake in Kenvue by 18.1% during the 4th quarter. B. Riley Wealth Advisors Inc. now owns 32,455 shares of the company’s stock worth $693,000 after buying an additional 4,974 shares during 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.