Barclays Cuts Kenvue (NYSE:KVUE) Price Target to $21.00

Kenvue (NYSE:KVUE) had its price target cut by Barclays from $23.00 to $21.00 in a research report sent to investors on Friday,Benzinga reports. They currently have an equal weight rating on the stock.

Other analysts have also issued research reports about the stock. UBS Group decreased their price target on shares of Kenvue from $24.00 to $23.00 and set a “neutral” rating for the company in a research note on Thursday. Citigroup dropped their price target on shares of Kenvue from $25.00 to $21.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 15th. Jefferies Financial Group assumed coverage on Kenvue in a report on Tuesday, September 24th. They set a “buy” rating and a $27.00 price objective for the company. Royal Bank of Canada upgraded Kenvue from a “hold” rating to a “moderate buy” rating in a report on Monday, December 9th. Finally, Bank of America upped their price target on Kenvue from $24.00 to $27.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $23.08.

Kenvue Trading Down 0.4 %

NYSE:KVUE opened at $21.11 on Friday. The firm has a fifty day simple moving average of $22.42 and a two-hundred day simple moving average of $21.71. Kenvue has a 12 month low of $17.67 and a 12 month high of $24.46. The stock has a market capitalization of $40.46 billion, a price-to-earnings ratio of 38.37, a PEG ratio of 1.99 and a beta of 1.46. 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 (NYSE:KVUE) last issued its earnings results on Thursday, November 7th. The company reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.01. Kenvue had a return on equity of 21.43% and a net margin of 6.88%. The business had revenue of $3.90 billion during the quarter, compared to analyst estimates of $3.92 billion. During the same period in the previous year, the company posted $0.31 EPS. The firm’s revenue was down .4% compared to the same quarter last year. Analysts expect that Kenvue will post 1.14 EPS for the current fiscal year.

Kenvue Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th will be paid a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a yield of 3.89%. The ex-dividend date is Wednesday, February 12th. Kenvue’s payout ratio is 149.09%.

Hedge Funds Weigh In On Kenvue

Several institutional investors and hedge funds have recently bought and sold shares of KVUE. Huntington National Bank lifted its position in shares of Kenvue by 26.5% during the 3rd quarter. Huntington National Bank now owns 4,161 shares of the company’s stock valued at $96,000 after buying an additional 871 shares during the last quarter. ING Groep NV raised its stake in Kenvue by 23.6% in the 3rd quarter. ING Groep NV now owns 3,576,616 shares of the company’s stock valued at $82,727,000 after acquiring an additional 681,954 shares during the period. Saturna Capital Corp lifted its holdings in Kenvue by 29.9% during the third quarter. Saturna Capital Corp now owns 1,334,860 shares of the company’s stock valued at $30,875,000 after purchasing an additional 307,039 shares during the last quarter. Everence Capital Management Inc. boosted its position in Kenvue by 122.1% during the fourth quarter. Everence Capital Management Inc. now owns 45,380 shares of the company’s stock worth $969,000 after purchasing an additional 24,950 shares during the period. Finally, Tyler Stone Wealth Management increased its stake in shares of Kenvue by 134.4% in the third quarter. Tyler Stone Wealth Management now owns 49,050 shares of the company’s stock worth $1,135,000 after purchasing an additional 28,125 shares in the last quarter. 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.