Bank of America Raises Kenvue (NYSE:KVUE) Price Target to $27.00

Kenvue (NYSE:KVUE) had its price target hoisted by Bank of America from $24.00 to $27.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other brokerages have also recently commented on KVUE. Piper Sandler upped their price target on Kenvue from $20.00 to $21.00 and gave the stock a “neutral” rating in a research report on Monday, September 23rd. Deutsche Bank Aktiengesellschaft increased their target price on shares of Kenvue from $23.00 to $24.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. JPMorgan Chase & Co. upped their price target on shares of Kenvue from $24.00 to $25.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. Citigroup decreased their price objective on shares of Kenvue from $21.00 to $20.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. Finally, Jefferies Financial Group began coverage on Kenvue in a research note on Tuesday, September 24th. They issued a “buy” rating and a $27.00 price target for the company. One analyst has rated the stock with a sell rating, seven 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 has an average rating of “Hold” and a consensus price target of $22.64.

Kenvue Price Performance

NYSE KVUE opened at $22.96 on Tuesday. The company has a quick ratio of 0.68, a current ratio of 0.99 and a debt-to-equity ratio of 0.69. The firm has a market capitalization of $43.95 billion, a P/E ratio of 29.43, a PEG ratio of 2.76 and a beta of 1.40. The company has a 50-day moving average price of $22.39 and a 200-day moving average price of $20.28. Kenvue has a 52 week low of $17.67 and a 52 week high of $23.55.

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

Kenvue Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th will be given a $0.205 dividend. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $0.82 annualized dividend and a yield of 3.57%. Kenvue’s dividend payout ratio (DPR) is 105.13%.

Institutional Trading of Kenvue

Several institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in Kenvue by 12.0% during the 1st quarter. Vanguard Group Inc. now owns 166,789,085 shares of the company’s stock valued at $3,579,294,000 after purchasing an additional 17,908,497 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Kenvue by 23.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 134,565,333 shares of the company’s stock valued at $2,887,773,000 after buying an additional 25,238,112 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in shares of Kenvue by 9.6% in the second quarter. Massachusetts Financial Services Co. MA now owns 79,863,967 shares of the company’s stock valued at $1,451,927,000 after acquiring an additional 7,023,047 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Kenvue by 11.1% in the first quarter. JPMorgan Chase & Co. now owns 68,319,998 shares of the company’s stock worth $1,466,147,000 after acquiring an additional 6,825,611 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in Kenvue by 21.0% during the 2nd 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.