Royal Bank of Canada Lowers Kenvue (NYSE:KVUE) to Sector Perform

Royal Bank of Canada cut shares of Kenvue (NYSE:KVUE) from an outperform rating to a sector perform rating in a research report released on Tuesday, MarketBeat reports. The brokerage currently has $24.00 price target on the stock.

KVUE has been the subject of a number of other research reports. Citigroup lowered their price target on Kenvue from $21.00 to $20.00 and set a neutral rating for the company in a report on Wednesday, July 10th. UBS Group increased their price target on Kenvue from $20.00 to $22.00 and gave the stock a neutral rating in a research report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft lifted their price objective on Kenvue from $23.00 to $24.00 and gave the company a buy rating in a report on Wednesday, August 7th. JPMorgan Chase & Co. increased their target price on shares of Kenvue from $22.00 to $24.00 and gave the stock an overweight rating in a report on Wednesday, August 7th. Finally, Piper Sandler boosted their price target on shares of Kenvue from $20.00 to $21.00 and gave the company a neutral rating in a report on Monday. One analyst has rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Hold and an average price target of $22.10.

Kenvue Stock Up 0.5 %

Shares of KVUE opened at $23.12 on Tuesday. The firm has a fifty day moving average price of $21.21 and a 200-day moving average price of $20.03. 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 firm has a market capitalization of $44.27 billion, a P/E ratio of 29.64, a P/E/G ratio of 2.92 and a beta of 1.40. Kenvue has a 12-month low of $17.67 and a 12-month high of $23.55.

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, beating the consensus estimate of $0.28 by $0.04. The company had revenue of $4 billion during 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 firm’s quarterly revenue was down .3% on a year-over-year basis. During the same period in the previous year, the company earned $0.32 EPS. Equities research analysts expect that Kenvue will post 1.08 earnings per share for the current year.

Kenvue Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 28th. Investors of record on Wednesday, August 14th were given a dividend of $0.205 per share. This is a boost from Kenvue’s previous quarterly dividend of $0.20. The ex-dividend date was Wednesday, August 14th. This represents a $0.82 dividend on an annualized basis and a yield of 3.55%. Kenvue’s dividend payout ratio is presently 105.13%.

Institutional Investors Weigh In On Kenvue

Several institutional investors have recently bought and sold shares of the company. Marathon Capital Management boosted its stake in Kenvue by 0.3% in the second 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. Manchester Capital Management LLC boosted its stake in Kenvue by 80.8% in the first quarter. Manchester Capital Management LLC now owns 1,186 shares of the company’s stock valued at $25,000 after acquiring an additional 530 shares in the last quarter. Poehling Capital Management INC. boosted its stake in Kenvue by 0.5% in the second quarter. Poehling Capital Management INC. now owns 104,934 shares of the company’s stock valued at $1,908,000 after acquiring an additional 547 shares in the last quarter. Pathway Financial Advisers LLC boosted its stake in Kenvue by 12.0% in the second quarter. Pathway Financial Advisers LLC now owns 5,131 shares of the company’s stock valued at $93,000 after acquiring an additional 549 shares in the last quarter. Finally, Tradition Wealth Management LLC boosted its stake in Kenvue by 2.8% in the fourth quarter. Tradition Wealth Management LLC now owns 21,278 shares of the company’s stock valued at $458,000 after acquiring an additional 575 shares in the last quarter. 97.64% of the stock is currently 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.