Kenvue (NYSE:KVUE) Price Target Lowered to $24.00 at Canaccord Genuity Group

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

KVUE has been the subject of several other research reports. Citigroup dropped their price target on shares of Kenvue from $25.00 to $21.00 and set a “neutral” rating for the company in a research note on Wednesday, January 15th. JPMorgan Chase & Co. raised their target price on Kenvue from $24.00 to $25.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. Royal Bank of Canada restated a “sector perform” rating and issued a $24.00 target price on shares of Kenvue in a research report on Monday, February 3rd. Deutsche Bank Aktiengesellschaft cut Kenvue from a “buy” rating to a “hold” rating and lowered their price target for the stock from $25.00 to $24.00 in a report on Thursday, December 12th. Finally, Piper Sandler upgraded shares of Kenvue from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $21.00 to $26.00 in a report on Monday, January 6th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Kenvue currently has a consensus rating of “Hold” and a consensus price target of $23.00.

Kenvue Stock Performance

Shares of Kenvue stock opened at $20.23 on Friday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.69 and a current ratio of 1.00. The business’s 50 day moving average price is $21.54 and its 200 day moving average price is $21.97. The company has a market cap of $38.79 billion, a price-to-earnings ratio of 38.17, a PEG ratio of 2.16 and a beta of 1.45. Kenvue has a one year low of $17.67 and a one year high of $24.46.

Kenvue (NYSE:KVUE) last posted its quarterly earnings results on Thursday, February 6th. The company reported $0.26 EPS for the quarter, hitting the consensus estimate of $0.26. Kenvue had a return on equity of 20.97% and a net margin of 6.66%. On average, research analysts predict that Kenvue will post 1.05 EPS for the current year.

Kenvue Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th will be paid a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a yield of 4.05%. The ex-dividend date of this dividend is Wednesday, February 12th. Kenvue’s payout ratio is currently 154.72%.

Hedge Funds Weigh In On Kenvue

Several hedge funds and other institutional investors have recently added to or reduced their stakes in KVUE. AMF Tjanstepension AB increased its position in shares of Kenvue by 187.3% during the third quarter. AMF Tjanstepension AB now owns 120,477 shares of the company’s stock worth $2,787,000 after acquiring an additional 78,540 shares during the period. Mather Group LLC. grew its stake in Kenvue by 62.0% during the 3rd quarter. Mather Group LLC. now owns 6,857 shares of the company’s stock worth $159,000 after purchasing an additional 2,625 shares in the last quarter. Atomi Financial Group Inc. purchased a new stake in Kenvue during the 3rd quarter worth about $212,000. Perpetual Ltd raised its position in Kenvue by 2.6% in the 3rd quarter. Perpetual Ltd now owns 25,380 shares of the company’s stock valued at $587,000 after purchasing an additional 652 shares in the last quarter. Finally, Juncture Wealth Strategies LLC purchased a new position in shares of Kenvue in the 3rd quarter valued at about $241,000. Hedge funds and other 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.