Kenvue (NYSE:KVUE) Raised to “Overweight” at Piper Sandler

Piper Sandler upgraded shares of Kenvue (NYSE:KVUE) from a neutral rating to an overweight rating in a research report sent to investors on Monday morning, Marketbeat Ratings reports. The firm currently has $26.00 target price on the stock, up from their previous target price of $21.00.

A number of other research firms have also recently commented on KVUE. Bank of America lifted their target price on Kenvue from $24.00 to $27.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Jefferies Financial Group assumed coverage on shares of Kenvue in a research note on Tuesday, September 24th. They issued a “buy” rating and a $27.00 target price on the stock. Deutsche Bank Aktiengesellschaft lowered shares of Kenvue from a “buy” rating to a “hold” rating and decreased their price target for the stock from $25.00 to $24.00 in a research note on Thursday, December 12th. Royal Bank of Canada upgraded Kenvue from a “hold” rating to a “moderate buy” rating in a research note on Monday, December 9th. Finally, Barclays raised Kenvue to a “hold” rating in a research report on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $23.09.

Kenvue Stock Down 0.6 %

Kenvue stock opened at $21.08 on Monday. Kenvue has a fifty-two week low of $17.67 and a fifty-two week high of $24.46. 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 firm’s 50-day simple moving average is $22.81 and its 200 day simple moving average is $21.53. The stock has a market cap of $40.42 billion, a PE ratio of 38.33, a price-to-earnings-growth ratio of 2.02 and a beta of 1.46.

Kenvue (NYSE:KVUE) last announced its earnings results on Thursday, November 7th. The company reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.01. The firm had revenue of $3.90 billion for the quarter, compared to the consensus estimate of $3.92 billion. Kenvue had a return on equity of 21.43% and a net margin of 6.88%. The company’s revenue was down .4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.31 EPS. Research analysts predict that Kenvue will post 1.07 EPS for the current fiscal year.

Kenvue Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th were issued a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a dividend yield of 3.89%. The ex-dividend date was Wednesday, November 13th. Kenvue’s payout ratio is 149.09%.

Hedge Funds Weigh In On Kenvue

Several hedge funds have recently bought and sold shares of the company. Leo Wealth LLC boosted its holdings in Kenvue by 0.3% in the 3rd quarter. Leo Wealth LLC now owns 151,611 shares of the company’s stock valued at $3,507,000 after purchasing an additional 481 shares during the period. Alerus Financial NA boosted its stake in Kenvue by 0.3% during the third quarter. Alerus Financial NA now owns 191,345 shares of the company’s stock valued at $4,426,000 after buying an additional 491 shares during the period. Massmutual Trust Co. FSB ADV grew its position in Kenvue by 6.2% during the third quarter. Massmutual Trust Co. FSB ADV now owns 8,400 shares of the company’s stock worth $194,000 after buying an additional 492 shares in the last quarter. Wolff Wiese Magana LLC grew its position in Kenvue by 0.7% during the third quarter. Wolff Wiese Magana LLC now owns 76,999 shares of the company’s stock worth $1,781,000 after buying an additional 501 shares in the last quarter. Finally, Marathon Capital Management raised its holdings in shares of Kenvue by 0.3% in the 2nd quarter. Marathon Capital Management now owns 149,699 shares of the company’s stock valued at $2,722,000 after acquiring an additional 514 shares in the last quarter. Hedge funds and other institutional investors own 97.64% of the company’s stock.

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.