Kenvue (NYSE:KVUE) Given New $29.00 Price Target at Canaccord Genuity Group

Kenvue (NYSE:KVUE) had its price target raised by Canaccord Genuity Group from $24.00 to $29.00 in a research note released on Wednesday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other research analysts have also issued reports on the company. Piper Sandler boosted their price target on Kenvue from $24.00 to $27.00 and gave the stock an “overweight” rating in a research report on Monday, February 24th. Barclays reduced their price objective on shares of Kenvue from $23.00 to $21.00 and set an “equal weight” rating for the company in a report on Friday, January 17th. UBS Group lowered their target price on shares of Kenvue from $23.00 to $21.00 and set a “neutral” rating on the stock in a research note on Friday, February 7th. Citigroup reduced 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. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $24.00 price objective on shares of Kenvue in a research note on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Kenvue presently has an average rating of “Hold” and an average price target of $23.75.

Kenvue Trading Down 1.6 %

Shares of NYSE:KVUE opened at $23.05 on Wednesday. The company has a quick ratio of 0.69, a current ratio of 1.00 and a debt-to-equity ratio of 0.66. The company’s 50-day moving average price is $21.57 and its 200 day moving average price is $22.30. The company has a market cap of $44.04 billion, a PE ratio of 43.48, a P/E/G ratio of 2.62 and a beta of 1.45. Kenvue has a fifty-two week low of $17.67 and a fifty-two week high of $24.46.

Kenvue (NYSE:KVUE) last released its quarterly earnings results on Thursday, February 6th. The company reported $0.26 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.26. Kenvue had a return on equity of 20.97% and a net margin of 6.66%. Sell-side analysts anticipate that Kenvue will post 1.14 earnings per share for the current year.

Kenvue Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th were issued a $0.205 dividend. The ex-dividend date was Wednesday, February 12th. This represents a $0.82 annualized dividend and a dividend yield of 3.56%. Kenvue’s dividend payout ratio is currently 154.72%.

Institutional Investors Weigh In On Kenvue

Several large investors have recently modified their holdings of the stock. Alerus Financial NA raised its position in shares of Kenvue by 0.3% during the third quarter. Alerus Financial NA now owns 191,345 shares of the company’s stock worth $4,426,000 after purchasing an additional 491 shares during the period. Kiley Juergens Wealth Management LLC increased its stake in Kenvue by 1.9% in the 4th quarter. Kiley Juergens Wealth Management LLC now owns 27,110 shares of the company’s stock worth $579,000 after purchasing an additional 500 shares in the last quarter. Principle Wealth Partners LLC raised its holdings in Kenvue by 3.7% during the 4th quarter. Principle Wealth Partners LLC now owns 14,194 shares of the company’s stock worth $303,000 after buying an additional 500 shares during the period. White Pine Capital LLC lifted its stake in Kenvue by 1.0% during the fourth quarter. White Pine Capital LLC now owns 54,572 shares of the company’s stock valued at $1,165,000 after buying an additional 542 shares in the last quarter. Finally, Deseret Mutual Benefit Administrators boosted its holdings in shares of Kenvue by 29.0% in the fourth quarter. Deseret Mutual Benefit Administrators now owns 2,528 shares of the company’s stock worth $54,000 after buying an additional 568 shares during the period. 97.64% of the stock is owned by institutional investors.

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.