Kenvue (NYSE:KVUE) Price Target Increased to $21.00 by Analysts at Piper Sandler

Kenvue (NYSE:KVUE) had its price target upped by Piper Sandler from $20.00 to $21.00 in a research note published on Monday, Benzinga reports. They currently have a neutral rating on the stock.

Other equities analysts also recently issued research reports about the company. JPMorgan Chase & Co. lifted their price target on Kenvue from $22.00 to $24.00 and gave the company an overweight rating in a research note on Wednesday, August 7th. UBS Group boosted their target price on Kenvue from $20.00 to $22.00 and gave the company a neutral rating in a research note on Wednesday, August 7th. Citigroup dropped their price objective on Kenvue from $21.00 to $20.00 and set a neutral rating on the stock in a report on Wednesday, July 10th. Deutsche Bank Aktiengesellschaft raised their price target on Kenvue from $23.00 to $24.00 and gave the company a buy rating in a report on Wednesday, August 7th. Finally, Royal Bank of Canada restated an outperform rating and set a $24.00 price objective on shares of Kenvue in a research report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Kenvue has an average rating of Hold and an average target price of $22.10.

Kenvue Stock Up 0.5 %

Shares of Kenvue stock opened at $23.12 on Monday. The firm has a market cap of $44.27 billion, a price-to-earnings ratio of 29.64, a PEG ratio of 2.92 and a beta of 1.40. Kenvue has a one year low of $17.67 and a one year high of $23.55. The stock’s 50-day moving average is $21.21 and its 200 day moving average is $20.03. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.99 and a quick ratio of 0.68.

Kenvue (NYSE:KVUE) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.04. The company had revenue of $4 billion for the quarter, compared to analysts’ expectations of $3.93 billion. Kenvue had a net margin of 7.23% and a return on equity of 21.80%. The business’s revenue was down .3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.32 EPS. Equities research analysts anticipate that Kenvue will post 1.08 EPS for the current year.

Kenvue Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 28th. Shareholders of record on Wednesday, August 14th were given a $0.205 dividend. The ex-dividend date of this dividend was Wednesday, August 14th. This represents a $0.82 annualized dividend and a yield of 3.55%. This is an increase from Kenvue’s previous quarterly dividend of $0.20. Kenvue’s payout ratio is presently 105.13%.

Institutional Investors Weigh In On Kenvue

A number of large investors have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD lifted its stake in Kenvue by 23.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 134,565,333 shares of the company’s stock worth $2,887,773,000 after acquiring an additional 25,238,112 shares during the period. Vanguard Group Inc. grew its position in shares of Kenvue by 12.0% in the 1st quarter. Vanguard Group Inc. now owns 166,789,085 shares of the company’s stock worth $3,579,294,000 after buying an additional 17,908,497 shares during the period. Van ECK Associates Corp increased its stake in shares of Kenvue by 110.9% in the 2nd quarter. Van ECK Associates Corp now owns 20,510,427 shares of the company’s stock worth $372,880,000 after acquiring an additional 10,783,258 shares in the last quarter. Clearbridge Investments LLC lifted its position in Kenvue by 16,051.1% during the 1st quarter. Clearbridge Investments LLC now owns 9,813,597 shares of the company’s stock valued at $210,600,000 after acquiring an additional 9,752,836 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in 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 in the last quarter. 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.