Canaccord Genuity Group Cuts Kenvue (NYSE:KVUE) Price Target to $24.00

Kenvue (NYSE:KVUE) had its price target decreased by Canaccord Genuity Group from $27.00 to $24.00 in a research report report published on Friday,Benzinga reports. Canaccord Genuity Group currently has a buy rating on the stock.

Other research analysts have also recently issued research reports about the stock. Bank of America raised their target price on shares of Kenvue from $24.00 to $27.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft cut Kenvue from a “buy” rating to a “hold” rating and decreased their price objective for the company from $25.00 to $24.00 in a report on Thursday, December 12th. Barclays reduced their price target on Kenvue from $23.00 to $21.00 and set an “equal weight” rating for the company in a research report on Friday, January 17th. Piper Sandler upgraded Kenvue from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $21.00 to $26.00 in a research report on Monday, January 6th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $24.00 price objective on shares of Kenvue in a research note on Monday, February 3rd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $23.00.

Kenvue Stock Up 2.2 %

Kenvue stock opened at $20.23 on Friday. Kenvue has a fifty-two week low of $17.67 and a fifty-two week high of $24.46. The company has a market cap of $38.79 billion, a PE ratio of 38.17, a PEG ratio of 2.16 and a beta of 1.45. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.69 and a current ratio of 1.00. The business’s 50-day simple moving average is $21.54 and its two-hundred day simple moving average is $21.97.

Kenvue (NYSE:KVUE) last issued its quarterly earnings results on Thursday, February 6th. The company reported $0.26 earnings per share for the quarter, hitting the consensus estimate of $0.26. Kenvue had a net margin of 6.66% and a return on equity of 20.97%. Equities analysts anticipate that Kenvue will post 1.05 EPS for the current year.

Kenvue Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th will be issued a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a yield of 4.05%. The ex-dividend date of this dividend is Wednesday, February 12th. Kenvue’s payout ratio is 154.72%.

Institutional Trading of Kenvue

A number of institutional investors and hedge funds have recently modified their holdings of KVUE. AMF Tjanstepension AB boosted its holdings in Kenvue by 187.3% in the 3rd quarter. AMF Tjanstepension AB now owns 120,477 shares of the company’s stock worth $2,787,000 after buying an additional 78,540 shares during the last quarter. Mather Group LLC. lifted its position in shares of Kenvue by 62.0% in the third quarter. Mather Group LLC. now owns 6,857 shares of the company’s stock valued at $159,000 after acquiring an additional 2,625 shares in the last quarter. Atomi Financial Group Inc. acquired a new stake in shares of Kenvue in the third quarter worth approximately $212,000. Perpetual Ltd increased its position in shares of Kenvue by 2.6% during the third quarter. Perpetual Ltd now owns 25,380 shares of the company’s stock worth $587,000 after purchasing an additional 652 shares in the last quarter. Finally, Juncture Wealth Strategies LLC acquired a new position in Kenvue in the 3rd quarter valued at $241,000. Hedge funds and other institutional investors 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.