Kenvue (NYSE:KVUE) Price Target Raised to $25.00

Kenvue (NYSE:KVUE) had its target price hoisted by JPMorgan Chase & Co. from $24.00 to $25.00 in a report issued on Friday morning, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

Several other analysts have also recently commented on the stock. Citigroup lowered their target price on shares of Kenvue from $21.00 to $20.00 and set a neutral rating for the company in a research note on Wednesday, July 10th. Piper Sandler lifted their target price on shares of Kenvue from $20.00 to $21.00 and gave the stock a neutral rating in a research note on Monday, September 23rd. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Kenvue from $23.00 to $24.00 and gave the stock a buy rating in a research note on Wednesday, August 7th. UBS Group lifted their target price on shares of Kenvue from $20.00 to $22.00 and gave the stock a neutral rating in a research note on Wednesday, August 7th. Finally, Royal Bank of Canada cut shares of Kenvue from an outperform rating to a sector perform rating and set a $24.00 price objective for the company. in a research note on Tuesday, September 24th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of Hold and a consensus price target of $22.20.

Kenvue Price Performance

Shares of NYSE:KVUE opened at $21.60 on Friday. The company has a quick ratio of 0.68, a current ratio of 0.99 and a debt-to-equity ratio of 0.69. The company has a market cap of $41.36 billion, a P/E ratio of 27.69, a PEG ratio of 2.76 and a beta of 1.40. Kenvue has a 52 week low of $17.67 and a 52 week high of $23.55. The company has a 50-day moving average price of $22.20 and a 200 day moving average price of $20.18.

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

Kenvue Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 28th. Shareholders of record on Wednesday, August 14th were given a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a dividend yield of 3.80%. This is a positive change from Kenvue’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Wednesday, August 14th. Kenvue’s dividend payout ratio is presently 105.13%.

Hedge Funds Weigh In On Kenvue

A number of institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of Kenvue by 12.0% during the 1st quarter. Vanguard Group Inc. now owns 166,789,085 shares of the company’s stock valued at $3,579,294,000 after acquiring an additional 17,908,497 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Kenvue by 23.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 134,565,333 shares of the company’s stock valued at $2,887,773,000 after acquiring an additional 25,238,112 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of Kenvue by 9.6% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 79,863,967 shares of the company’s stock valued at $1,451,927,000 after acquiring an additional 7,023,047 shares in the last quarter. Wellington Management Group LLP raised its position in shares of Kenvue by 6.7% during the 4th quarter. Wellington Management Group LLP now owns 76,501,956 shares of the company’s stock valued at $1,647,087,000 after acquiring an additional 4,815,126 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in Kenvue by 11.1% during the 1st quarter. JPMorgan Chase & Co. now owns 68,319,998 shares of the company’s stock worth $1,466,147,000 after buying an additional 6,825,611 shares during the last quarter. 97.64% of the stock is owned by institutional investors and hedge funds.

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.