Kenvue (NYSE:KVUE) Price Target Raised to $27.00

Kenvue (NYSE:KVUE) had its price objective boosted by Piper Sandler from $24.00 to $27.00 in a research report sent to investors on Monday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other brokerages have also recently commented on KVUE. Citigroup dropped their price target on Kenvue from $25.00 to $21.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 15th. Canaccord Genuity Group reduced their price target on shares of Kenvue from $27.00 to $24.00 and set a “buy” rating for the company in a research report on Friday, February 7th. UBS Group lowered their target price on shares of Kenvue from $23.00 to $21.00 and set a “neutral” rating on the stock in a research note on Friday, February 7th. Barclays dropped their price target on Kenvue from $23.00 to $21.00 and set an “equal weight” rating for the company in a research note on Friday, January 17th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $24.00 target price on shares of Kenvue in a research note on Monday, February 3rd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Kenvue presently has a consensus rating of “Hold” and a consensus target price of $23.08.

Kenvue Stock Performance

Shares of KVUE stock opened at $23.22 on Monday. 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 firm has a market capitalization of $44.52 billion, a PE ratio of 43.81, a price-to-earnings-growth ratio of 2.62 and a beta of 1.45. The firm has a fifty day simple moving average of $21.36 and a two-hundred day simple moving average of $22.23.

Kenvue (NYSE:KVUE) last issued its quarterly earnings data on Thursday, February 6th. The company reported $0.26 earnings per share for the quarter, meeting the consensus estimate of $0.26. Kenvue had a return on equity of 20.97% and a net margin of 6.66%. 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. Shareholders of record on Wednesday, February 12th were paid a $0.205 dividend. This represents a $0.82 annualized dividend and a yield of 3.53%. The ex-dividend date was Wednesday, February 12th. Kenvue’s payout ratio is currently 154.72%.

Institutional Investors Weigh In On Kenvue

Hedge funds have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD boosted its position in shares of Kenvue by 3.5% during the 4th 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 acquiring an additional 8,211,748 shares during the last quarter. Vanguard Group Inc. raised its stake 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 purchasing an additional 1,636,741 shares in the last quarter. FMR LLC lifted its position in Kenvue by 2.3% during the third quarter. FMR LLC now owns 137,915,493 shares of the company’s stock valued at $3,189,985,000 after purchasing an additional 3,075,019 shares during the last quarter. State Street Corp grew its stake in shares of Kenvue by 16.8% in the 3rd quarter. State Street Corp now owns 127,213,940 shares of the company’s stock worth $2,942,458,000 after buying an additional 18,283,473 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its stake 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 in 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.