Kenvue (NYSE:KVUE) Upgraded by Royal Bank of Canada to Moderate Buy Rating

Royal Bank of Canada upgraded shares of Kenvue (NYSE:KVUE) from a hold rating to a moderate buy rating in a research note published on Monday,Zacks.com reports.

Other equities research analysts have also issued reports about the company. Piper Sandler upped their price target on Kenvue from $20.00 to $21.00 and gave the company a “neutral” rating in a research report on Monday, September 23rd. Jefferies Financial Group initiated coverage on shares of Kenvue in a research report on Tuesday, September 24th. They issued a “buy” rating and a $27.00 price target on the stock. JPMorgan Chase & Co. boosted their price objective 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, Bank of America raised their target price on shares of Kenvue from $24.00 to $27.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $22.64.

Kenvue Stock Performance

Kenvue stock opened at $22.74 on Monday. 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’s fifty day moving average price is $22.96 and its 200 day moving average price is $21.15. The company has a market capitalization of $43.60 billion, a price-to-earnings ratio of 41.35, a price-to-earnings-growth ratio of 2.07 and a beta of 1.37. Kenvue has a 12-month low of $17.67 and a 12-month high of $24.46.

Kenvue (NYSE:KVUE) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.01. Kenvue had a return on equity of 21.43% and a net margin of 6.88%. The firm had revenue of $3.90 billion during the quarter, compared to analyst estimates of $3.92 billion. During the same quarter last year, the firm earned $0.31 EPS. Kenvue’s quarterly revenue was down .4% on a year-over-year basis. On average, research analysts forecast that Kenvue will post 1.07 EPS for the current fiscal year.

Kenvue Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th were given a $0.205 dividend. The ex-dividend date was Wednesday, November 13th. This represents a $0.82 annualized dividend and a yield of 3.61%. Kenvue’s dividend payout ratio (DPR) is 149.09%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Huntington National Bank boosted its position in Kenvue by 26.5% during the third quarter. Huntington National Bank now owns 4,161 shares of the company’s stock valued at $96,000 after purchasing an additional 871 shares during the last quarter. ING Groep NV lifted its holdings in shares of Kenvue by 23.6% during the 3rd quarter. ING Groep NV now owns 3,576,616 shares of the company’s stock valued at $82,727,000 after buying an additional 681,954 shares during the last quarter. Kennon Green & Company LLC lifted its holdings in shares of Kenvue by 140.7% during the 2nd quarter. Kennon Green & Company LLC now owns 159,106 shares of the company’s stock valued at $2,893,000 after buying an additional 93,008 shares during the last quarter. Lorne Steinberg Wealth Management Inc. grew its stake in shares of Kenvue by 59.0% in the 2nd quarter. Lorne Steinberg Wealth Management Inc. now owns 154,690 shares of the company’s stock valued at $2,812,000 after buying an additional 57,375 shares in the last quarter. Finally, Crestwood Advisors Group LLC raised its position in Kenvue by 14.8% during the second quarter. Crestwood Advisors Group LLC now owns 1,537,348 shares of the company’s stock valued at $27,950,000 after acquiring an additional 198,607 shares in the last quarter. 97.64% of the stock is owned by hedge funds and other 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.