Kenvue (NYSE:KVUE) Price Target Cut to $22.00

Kenvue (NYSE:KVUE) had its price target cut by JPMorgan Chase & Co. from $23.00 to $22.00 in a research report sent to investors on Monday morning, Benzinga reports. They currently have an overweight rating on the stock.

Several other brokerages have also issued reports on KVUE. HSBC lifted their price target on shares of Kenvue from $20.00 to $21.00 and gave the company a hold rating in a report on Wednesday, May 8th. Sanford C. Bernstein initiated coverage on Kenvue in a research note on Thursday, April 11th. They issued an underperform rating and a $18.00 price target for the company. Citigroup reduced their price objective on Kenvue from $21.00 to $20.00 and set a neutral rating on the stock in a research report on Wednesday, July 10th. Finally, William Blair assumed coverage on Kenvue in a research report on Wednesday, April 3rd. They issued a market perform rating for the company. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, Kenvue presently has an average rating of Hold and an average price target of $22.45.

Kenvue Stock Performance

Shares of NYSE:KVUE opened at $18.25 on Monday. Kenvue has a 1 year low of $17.67 and a 1 year high of $25.23. The stock has a market capitalization of $34.95 billion, a price-to-earnings ratio of 23.40, a price-to-earnings-growth ratio of 1.97 and a beta of 1.40. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.99 and a quick ratio of 0.68. The company’s 50 day simple moving average is $18.63 and its 200 day simple moving average is $19.58.

Kenvue (NYSE:KVUE) last issued its quarterly earnings results on Tuesday, May 7th. The company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.03. Kenvue had a return on equity of 21.06% and a net margin of 9.63%. The company had revenue of $2.89 billion for the quarter, compared to analyst estimates of $3.79 billion. The company’s revenue was down 24.9% on a year-over-year basis. As a group, research analysts predict that Kenvue will post 1.13 EPS for the current fiscal year.

Kenvue Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 28th. Investors of record on Wednesday, August 14th will be issued a $0.205 dividend. This is a boost from Kenvue’s previous quarterly dividend of $0.20. This represents a $0.82 annualized dividend and a yield of 4.49%. Kenvue’s dividend payout ratio is presently 102.56%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Stephens Inc. AR raised its stake in Kenvue by 86.1% during the fourth quarter. Stephens Inc. AR now owns 57,694 shares of the company’s stock worth $1,242,000 after buying an additional 26,700 shares during the last quarter. Stifel Financial Corp lifted its stake in shares of Kenvue by 60.4% in the 4th quarter. Stifel Financial Corp now owns 745,064 shares of the company’s stock valued at $16,041,000 after purchasing an additional 280,591 shares during the period. Raleigh Capital Management Inc. boosted its position in shares of Kenvue by 93,834.8% during the 4th quarter. Raleigh Capital Management Inc. now owns 43,210 shares of the company’s stock valued at $930,000 after purchasing an additional 43,164 shares in the last quarter. Fifth Third Bancorp grew its stake in Kenvue by 35.3% during the fourth quarter. Fifth Third Bancorp now owns 277,580 shares of the company’s stock worth $5,976,000 after purchasing an additional 72,435 shares during the period. Finally, The Manufacturers Life Insurance Company increased its holdings in Kenvue by 2.6% in the fourth quarter. The Manufacturers Life Insurance Company now owns 1,598,567 shares of the company’s stock worth $34,417,000 after purchasing an additional 40,995 shares in the last quarter. Institutional investors and hedge funds own 97.64% of the company’s stock.

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.