Kenvue (NYSE:KVUE) Rating Increased to Overweight at Piper Sandler

Piper Sandler upgraded shares of Kenvue (NYSE:KVUE) from a neutral rating to an overweight rating in a report issued on Monday morning, MarketBeat Ratings reports. They currently have $26.00 price target on the stock, up from their prior price target of $21.00.

A number of other equities analysts also recently issued reports on the company. Deutsche Bank Aktiengesellschaft downgraded Kenvue from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $25.00 to $24.00 in a research report on Thursday, December 12th. Jefferies Financial Group started coverage on shares of Kenvue in a report on Tuesday, September 24th. They set a “buy” rating and a $27.00 price target for the company. Royal Bank of Canada raised shares of Kenvue from a “hold” rating to a “moderate buy” rating in a research note on Monday, December 9th. Bank of America lifted their target price on shares of Kenvue from $24.00 to $27.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Finally, JPMorgan Chase & Co. upped their price target 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. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $23.09.

Kenvue Stock Down 0.6 %

Shares of NYSE KVUE opened at $21.08 on Monday. Kenvue has a 1 year low of $17.67 and a 1 year high of $24.46. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.00 and a quick ratio of 0.69. The firm 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. The company has a 50 day simple moving average of $22.81 and a 200 day simple moving average of $21.53.

Kenvue (NYSE:KVUE) last issued its quarterly earnings results on Thursday, November 7th. The company reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.01. The company had revenue of $3.90 billion for the quarter, compared to analyst estimates of $3.92 billion. Kenvue had a net margin of 6.88% and a return on equity of 21.43%. Kenvue’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 earnings per share. On average, research analysts forecast that Kenvue will post 1.07 EPS for the current year.

Kenvue Dividend Announcement

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

Hedge Funds Weigh In On Kenvue

A number of large investors have recently modified their holdings of the company. FMR LLC raised its holdings in Kenvue by 2.3% during the third quarter. FMR LLC now owns 137,915,493 shares of the company’s stock worth $3,189,985,000 after buying an additional 3,075,019 shares during the last quarter. State Street Corp increased its position in shares of Kenvue by 16.8% during the third quarter. State Street Corp now owns 127,213,940 shares of the company’s stock worth $2,942,458,000 after acquiring an additional 18,283,473 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Kenvue by 8.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 86,979,341 shares of the company’s stock worth $2,011,832,000 after acquiring an additional 7,115,374 shares during the last quarter. Geode Capital Management LLC lifted its position in Kenvue by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 44,677,077 shares of the company’s stock valued at $1,029,810,000 after acquiring an additional 399,846 shares in the last quarter. Finally, Harris Associates L P boosted its stake in Kenvue by 7.5% during the 3rd quarter. Harris Associates L P now owns 31,459,511 shares of the company’s stock valued at $727,658,000 after purchasing an additional 2,186,114 shares during the last quarter. 97.64% of the stock is currently 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.