Canaccord Genuity Group Issues Pessimistic Forecast for Kenvue (NYSE:KVUE) Stock Price

Kenvue (NYSE:KVUE) had its price target reduced by Canaccord Genuity Group from $27.00 to $24.00 in a report released on Friday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other analysts also recently issued reports on KVUE. Royal Bank of Canada restated a “sector perform” rating and set a $24.00 price objective on shares of Kenvue in a report on Monday, February 3rd. UBS Group reduced their price target on shares of Kenvue from $23.00 to $21.00 and set a “neutral” rating for the company in a research report on Friday. JPMorgan Chase & Co. lifted their price objective 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. Bank of America increased their target price on Kenvue from $24.00 to $27.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Finally, Piper Sandler upgraded Kenvue from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $21.00 to $26.00 in a report on Monday, January 6th. One equities research 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. Based on data from MarketBeat, Kenvue has an average rating of “Hold” and an average target price of $23.00.

Kenvue Trading Up 2.2 %

Shares of NYSE:KVUE 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 stock has a market capitalization 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 1-year low of $17.67 and a 1-year high of $24.46. The company has a 50 day moving average price of $21.61 and a 200 day moving average price of $21.93.

Kenvue (NYSE:KVUE) last released its quarterly earnings data on Thursday, February 6th. The company reported $0.26 earnings per share 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 anticipate that Kenvue will post 1.05 EPS for the current fiscal year.

Kenvue Dividend Announcement

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

Hedge Funds Weigh In On Kenvue

A number of hedge funds have recently added to or reduced their stakes in KVUE. Huntington National Bank grew its position in Kenvue by 26.5% in the third quarter. Huntington National Bank now owns 4,161 shares of the company’s stock worth $96,000 after acquiring an additional 871 shares in the last quarter. ING Groep NV boosted its holdings in Kenvue by 23.6% in the third quarter. ING Groep NV now owns 3,576,616 shares of the company’s stock worth $82,727,000 after purchasing an additional 681,954 shares in the last quarter. Everence Capital Management Inc. increased its position in Kenvue by 122.1% during the fourth quarter. Everence Capital Management Inc. now owns 45,380 shares of the company’s stock worth $969,000 after buying an additional 24,950 shares during the last quarter. Saturna Capital Corp raised its holdings in Kenvue by 29.9% during the third quarter. Saturna Capital Corp now owns 1,334,860 shares of the company’s stock valued at $30,875,000 after buying an additional 307,039 shares in the last quarter. Finally, Tyler Stone Wealth Management lifted its position in shares of Kenvue by 134.4% in the third quarter. Tyler Stone Wealth Management now owns 49,050 shares of the company’s stock worth $1,135,000 after buying an additional 28,125 shares during the last quarter. Institutional investors and hedge funds own 97.64% of the company’s stock.

Kenvue Company Profile

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.