Kenvue (NYSE:KVUE) Given New $27.00 Price Target at Bank of America

Kenvue (NYSE:KVUE) had its price target lifted by Bank of America from $24.00 to $27.00 in a research note released on Tuesday, Benzinga reports. They currently have a buy rating on the stock.

Several other brokerages also recently issued reports on KVUE. UBS Group increased their price objective on shares of Kenvue from $20.00 to $22.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Royal Bank of Canada cut shares of Kenvue from an “outperform” rating to a “sector perform” rating and set a $24.00 price target for the company. in a research note on Tuesday, September 24th. Piper Sandler increased their target price on shares of Kenvue from $20.00 to $21.00 and gave the stock a “neutral” rating in a report on Monday, September 23rd. JPMorgan Chase & Co. raised their target price on shares of Kenvue from $24.00 to $25.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. Finally, Citigroup cut their price target on shares of Kenvue from $21.00 to $20.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Kenvue currently has an average rating of “Hold” and a consensus target price of $22.64.

Kenvue Price Performance

Shares of KVUE opened at $22.93 on Tuesday. The company has a current ratio of 0.99, a quick ratio of 0.68 and a debt-to-equity ratio of 0.69. The stock has a market cap of $43.91 billion, a P/E ratio of 29.40, a price-to-earnings-growth ratio of 2.76 and a beta of 1.40. The stock’s 50-day moving average price is $22.33 and its two-hundred day moving average price is $20.24. Kenvue has a 1 year low of $17.67 and a 1 year high of $23.55.

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

Kenvue Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th will be issued a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a yield of 3.58%. The ex-dividend date of this dividend is Wednesday, November 13th. Kenvue’s payout ratio is currently 105.13%.

Institutional Trading of Kenvue

Hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in 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 purchasing an additional 17,908,497 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in Kenvue by 23.1% in 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 buying an additional 25,238,112 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in Kenvue by 9.6% in 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 during the period. JPMorgan Chase & Co. lifted its position in Kenvue by 11.1% during the first quarter. JPMorgan Chase & Co. now owns 68,319,998 shares of the company’s stock worth $1,466,147,000 after acquiring an additional 6,825,611 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Kenvue by 21.0% during the second quarter. Bank of New York Mellon Corp now owns 43,444,085 shares of the company’s stock worth $789,813,000 after acquiring an additional 7,546,362 shares during the period. 97.64% of the stock is owned by institutional investors and hedge funds.

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.