Kenvue (NYSE:KVUE) Price Target Increased to $21.00 by Analysts at Piper Sandler

Kenvue (NYSE:KVUE) had its price target increased by Piper Sandler from $20.00 to $21.00 in a research report report published on Monday, Benzinga reports. Piper Sandler currently has a neutral rating on the stock.

Several other analysts have also recently weighed in on KVUE. JPMorgan Chase & Co. raised their target price on shares of Kenvue from $22.00 to $24.00 and gave the company an overweight rating in a report on Wednesday, August 7th. UBS Group raised their target price on shares of Kenvue from $20.00 to $22.00 and gave the company a neutral rating in a report on Wednesday, August 7th. Royal Bank of Canada reaffirmed an outperform rating and issued a $24.00 target price on shares of Kenvue in a report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Kenvue from $23.00 to $24.00 and gave the company a buy rating in a report on Wednesday, August 7th. Finally, Citigroup cut their price objective on shares of Kenvue from $21.00 to $20.00 and set a neutral rating on the stock in a report on Wednesday, July 10th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of Hold and an average price target of $21.56.

Kenvue Stock Performance

Shares of KVUE stock opened at $23.02 on Monday. The company has a 50-day moving average of $21.02 and a two-hundred day moving average of $19.99. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.99 and a quick ratio of 0.68. Kenvue has a 1-year low of $17.67 and a 1-year high of $23.55. The firm has a market cap of $44.08 billion, a PE ratio of 29.51, a price-to-earnings-growth ratio of 2.92 and a beta of 1.40.

Kenvue (NYSE:KVUE) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.28 by $0.04. The business had revenue of $4 billion during the quarter, compared to analyst estimates of $3.93 billion. Kenvue had a net margin of 7.23% and a return on equity of 21.80%. The business’s revenue for the quarter was down .3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.32 earnings per share. On average, analysts predict that Kenvue will post 1.08 EPS for the current year.

Kenvue Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 28th. Stockholders of record on Wednesday, August 14th were given a dividend of $0.205 per share. The ex-dividend date was Wednesday, August 14th. This is a positive change from Kenvue’s previous quarterly dividend of $0.20. This represents a $0.82 dividend on an annualized basis and a dividend yield of 3.56%. Kenvue’s dividend payout ratio (DPR) is 105.13%.

Hedge Funds Weigh In On Kenvue

A number of hedge funds have recently modified their holdings of the business. Healthcare of Ontario Pension Plan Trust Fund grew its position in shares of Kenvue by 18.7% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 4,857,910 shares of the company’s stock worth $88,317,000 after acquiring an additional 763,738 shares during the last quarter. Clifford Capital Partners LLC grew its position in shares of Kenvue by 21.3% during the second quarter. Clifford Capital Partners LLC now owns 788,451 shares of the company’s stock worth $14,334,000 after acquiring an additional 138,203 shares during the last quarter. Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group grew its position in shares of Kenvue by 9.4% during the second quarter. Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group now owns 67,723 shares of the company’s stock worth $1,231,000 after acquiring an additional 5,810 shares during the last quarter. Sanctuary Advisors LLC purchased a new position in shares of Kenvue during the second quarter worth approximately $3,859,000. Finally, Ghisallo Capital Management LLC grew its position in shares of Kenvue by 200.0% during the second quarter. Ghisallo Capital Management LLC now owns 3,000,000 shares of the company’s stock worth $54,540,000 after acquiring an additional 2,000,000 shares during the last quarter. 97.64% of the stock is currently owned by hedge funds and other 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.