Kenvue (NYSE:KVUE) Given New $24.00 Price Target at Canaccord Genuity Group

Kenvue (NYSE:KVUE) had its price objective lowered by Canaccord Genuity Group from $27.00 to $24.00 in a research note published on Friday morning,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other equities research analysts have also issued reports on the company. Citigroup lowered their target price on Kenvue from $25.00 to $21.00 and set a “neutral” rating for the company in a research note on Wednesday, January 15th. UBS Group dropped their price objective on shares of Kenvue from $23.00 to $21.00 and set a “neutral” rating on the stock in a research note on Friday. Bank of America upped their price objective on shares of Kenvue from $24.00 to $27.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft lowered Kenvue from a “buy” rating to a “hold” rating and cut their target price for the company from $25.00 to $24.00 in a research report on Thursday, December 12th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $24.00 target price on shares of Kenvue in a report on Monday, February 3rd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Kenvue currently has a consensus rating of “Hold” and a consensus target price of $23.00.

Kenvue Stock Performance

NYSE KVUE opened at $20.23 on Friday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.00 and a quick ratio of 0.69. Kenvue has a 1-year low of $17.67 and a 1-year high of $24.46. The firm has a market capitalization of $38.79 billion, a P/E ratio of 38.17, a P/E/G ratio of 2.16 and a beta of 1.45. The business’s 50-day simple moving average is $21.61 and its 200-day simple moving average is $21.93.

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

Kenvue Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th will be given a dividend of $0.205 per share. The ex-dividend date of this dividend is Wednesday, February 12th. This represents a $0.82 dividend on an annualized basis and a yield of 4.05%. Kenvue’s dividend payout ratio (DPR) is presently 154.72%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Sequoia Financial Advisors LLC lifted its holdings in Kenvue by 18.7% in the fourth quarter. Sequoia Financial Advisors LLC now owns 29,309 shares of the company’s stock worth $626,000 after purchasing an additional 4,619 shares during the period. Saturna Capital Corp raised its position in shares of Kenvue by 28.2% during the 4th quarter. Saturna Capital Corp now owns 1,711,024 shares of the company’s stock worth $36,530,000 after buying an additional 376,164 shares in the last quarter. Moors & Cabot Inc. lifted its stake in shares of Kenvue by 2.4% in the 4th quarter. Moors & Cabot Inc. now owns 184,528 shares of the company’s stock worth $3,940,000 after acquiring an additional 4,327 shares during the period. King Luther Capital Management Corp increased its stake in shares of Kenvue by 286.5% during the fourth quarter. King Luther Capital Management Corp now owns 207,367 shares of the company’s stock valued at $4,427,000 after acquiring an additional 153,715 shares during the period. Finally, Citizens Financial Group Inc. RI bought a new stake in Kenvue during the fourth quarter worth approximately $229,000. 97.64% of the stock is owned by institutional investors and hedge funds.

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.